UK Mortgage Calculator
Our free UK mortgage calculator estimates your monthly repayments using the standard amortisation formula based on your loan amount, interest rate, and term length. Whether you are buying your first home or remortgaging, get accurate figures updated for 2026 UK lending rates in seconds — no sign-up required.
Monthly Payment
£0.00
Total Repayment
£0.00
Total Interest
£0.00
How UK Mortgage Repayments Are Calculated
This calculator uses the standard mortgage amortisation formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly repayments. Enter your property value or loan amount in pounds, your annual interest rate as a percentage, and your repayment term in years. The tool instantly displays your monthly payment, total amount repayable over the term, and total interest charged — giving you a clear picture of the true cost of your mortgage.
Frequently Asked Questions
How does a UK mortgage calculator work?
A UK mortgage calculator uses the standard amortisation formula with your loan amount, annual interest rate, and repayment term to compute your fixed monthly payment. It also shows total interest charged and total amount repayable over the full term.
What is a typical mortgage interest rate in the UK in 2026?
UK mortgage rates in 2026 typically range between 4% and 6% depending on your loan-to-value ratio, credit history, and fixed versus variable deal. Use our calculator to compare how different rates affect your monthly repayments.
How much can I borrow for a mortgage in the UK?
Most UK lenders apply an income multiple of 4 to 4.5 times your annual gross salary. For example, earning £45,000 per year may allow you to borrow between £180,000 and £202,500, subject to affordability checks.
What is the difference between a repayment and interest-only mortgage?
A repayment mortgage means each monthly payment covers both interest and a portion of the loan capital, so the debt decreases over time. An interest-only mortgage means you only pay the interest each month, leaving the full capital owed at the end of the term.
How accurate is this mortgage calculator?
Our calculator provides highly accurate estimates based on the standard amortisation formula used by UK lenders. It does not include product fees, insurance, or lender-specific adjustments. For a precise quote, speak with a whole-of-market UK mortgage broker.