Mortgage Repayment Calculator
Calculate your monthly mortgage payment for repayment or interest-only, plus total interest over the term and a quick rate-rise comparison.
Your mortgage
Results
Repayment monthly
£1,169
Interest-only monthly
£833
Total interest
£150,754
Total repaid
£350,754
Rate comparison
| Scenario | Monthly payment |
|---|---|
| Current rate (5.0%) | £1,169 |
| +0.5% (5.5%) | £1,228 |
| +1.0% (6.0%) | £1,289 |
| +2.0% (7.0%) | £1,414 |
Illustrative figures only. Your actual payment will depend on the exact product, fees and how interest is calculated by your lender.
How this works
A repayment mortgage pays down both interest and capital each month using standard amortisation, so the balance reaches zero at the end of the term. An interest-only mortgage only covers the interest — the capital balance stays the same and must be repaid separately at the end.
Frequently asked questions
- How is the monthly repayment calculated?
- Using the standard amortisation formula based on loan amount, monthly interest rate and number of monthly payments.
- Why is interest-only cheaper per month?
- Because none of the payment reduces the capital balance — you're only paying the interest due each month.
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