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Mortgage Calculator

Your buyer type affects the rates and deposit requirements typically available to you. Eligibility criteria vary by lender.

The full purchase price of the property.

The amount you'll pay upfront.

years
months

Most mortgages are 25–35 years. Shorter terms mean higher payments but less interest overall.

%

Enter a rate from your lender/broker, or leave blank to see average UK rates.

Your Results

Complete the steps to see your estimated monthly payments across different mortgage types.

  • Fixed, tracker & variable rate comparisons
  • Monthly payment breakdown
  • Total interest calculations
Based on current UK average rates

Important: This calculator provides estimates only and does not constitute financial advice. Your actual mortgage rate will depend on your credit history, income, property type, and lender criteria. We recommend speaking with a qualified mortgage advisor before making any financial decisions.

Key Concepts

Understanding Your Mortgage

Getting a mortgage is one of the biggest financial decisions you'll make. Here's what you need to know.
    Loan-to-Value (LTV)
    The ratio of your mortgage loan to the property's value. Lower LTV ratios (bigger deposits) typically unlock better interest rates and more lender options.
    Interest Rates
    Determines how much you pay on top of what you borrowed. Even small differences can mean thousands of pounds over your mortgage term.
    Mortgage Term
    How long you have to repay your mortgage. Longer terms mean lower monthly payments but more total interest paid over time.
Mortgage Types

Types of Mortgage Rates

Choose the right mortgage type for your situation and financial goals.
    Fixed Rate
    Your interest rate stays the same for an agreed period (typically 2-5 years). This gives you certainty over your monthly payments, protecting you if interest rates rise.
    Tracker Rate
    Your rate moves in line with the Bank of England base rate, plus a set percentage. When the base rate goes down, so do your payments — but they'll rise if rates increase.
    Variable Rate
    Your lender's standard variable rate (SVR) can change at any time. Often higher than other options, but typically has no early repayment charges.
Buying Tips

Tips for First-Time Buyers

Making your first property purchase? These essential tips will help you navigate the mortgage process.
    Check Your Credit Score
    Lenders use this to decide your rates. Check for errors and pay down debts before applying for a mortgage.
    Budget Beyond the Deposit
    Save for stamp duty, legal fees, surveys, and moving costs — typically an extra 3-5% of the property price.
    Get an Agreement in Principle
    Shows sellers you're serious and gives you clarity on what you can afford before house hunting.

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