Edinburgh · Scotland · UK-wide
This calculator shows what a mortgage would cost you each month on a capital repayment basis, and on interest only, together with the total amount repaid over the full term. It also shows what the payment would become if rates rose by one, two or three percentage points — which is worth looking at before you fix, not after.
£0
excluding fees and insurance
Send these figures over and we will come back with the actual rates available to you, and what the payment would really be.
Common questions
On a repayment mortgage each payment covers the interest accrued that month plus a slice of the capital, calculated so the balance reaches zero at the end of the term. Early payments are mostly interest and later payments mostly capital, which is why overpaying early saves disproportionately more.
On a fixed rate, nothing until the fix ends. On a tracker or standard variable rate, the payment changes with the rate. As a rough guide, each 1% rise adds around £55 a month per £100,000 borrowed on a 25-year repayment mortgage.
A shorter term costs more each month but far less overall. Reducing a £200,000 mortgage from 30 years to 25 typically raises the monthly payment by around £100 while saving tens of thousands in interest. Most lenders allow overpayments of 10% a year, which achieves something similar with more flexibility.
The monthly payment is much lower because you pay no capital, but you still owe the full amount at the end of the term, and the total interest paid is far higher. Lenders require evidence of a credible repayment plan and usually a substantial deposit.
A twenty-minute conversation will tell you what you can realistically borrow, what it will cost and whether it is worth doing. It is free, and we will tell you honestly if the answer is no.