mortgage calculator

Mortgage Calculator

Need to calculate mortgage repayments quickly and accurately? Our free Mortgage Calculator helps you estimate monthly payments, total repayment and total interest based on property price, deposit, interest rate and mortgage term.

Whether you are checking:

• monthly mortgage repayments
• mortgage cost on a house
• interest paid over a mortgage term
• deposit and loan amount calculations

This simple online tool makes mortgage calculations fast and easy.

How to Calculate Mortgage Repayments

Mortgage repayments are based on the loan amount, interest rate and mortgage term.

Formula:

Mortgage Amount = Property Price - Deposit

Monthly Repayment = Based on loan amount, interest rate and term

Mortgage Calculation Example

If a property costs £250,000 and you have a £25,000 deposit:

• £250,000 - £25,000 = £225,000 mortgage amount
• At 5% over 25 years, the monthly repayment is approximately £1,315.18
• Total repayment is approximately £394,553.21
• Total interest is approximately £169,553.21

What Is a Mortgage?

A mortgage is a loan used to buy a property. It is usually repaid monthly over a set term, often 20, 25 or 30 years.

What Is a Deposit?

A deposit is the amount you pay upfront towards the property purchase. A larger deposit usually means you need to borrow less.

Common Mortgage Examples

• £150,000 property with 10% deposit = £135,000 mortgage
• £250,000 property with 10% deposit = £225,000 mortgage
• £350,000 property with 10% deposit = £315,000 mortgage
• £500,000 property with 10% deposit = £450,000 mortgage

Why Use Our Mortgage Calculator?

• Estimate monthly mortgage repayments instantly
• Calculate mortgage amount after deposit
• See total repayment and total interest
• Useful for house buying and affordability planning
• No calculator needed