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What would your mortgage actually cost per month?
Estimate your monthly payment before you start house-hunting.
Mortgage calculator
See your likely monthly payment before you start house-hunting
Loan amount
£288,000
price minus deposit
Monthly payment
£1,601
Total interest paid
£192,239
Estimate only — real mortgage offers factor in your credit profile, product fees, and the lender's specific criteria. Rates shown are illustrative; get a personalised quote from a broker or lender before making any decisions.
A repayment mortgage pays off both interest and the loan itself, so the balance reaches zero by the end of the term — this is the standard choice for most homebuyers. An interest-only mortgage has lower monthly payments because you're only paying the interest, but the full loan amount is still owed at the end and needs a separate repayment plan (savings, investments, or selling the property). Lenders now restrict interest-only mortgages to specific circumstances, so check with a broker before assuming you'd qualify for one.
Frequently asked questions
What's the difference between repayment and interest-only mortgages?
A repayment mortgage pays off both the loan and the interest, reaching zero by the end of the term. An interest-only mortgage has lower monthly payments, but the full loan amount is still owed at the end.
How is a monthly mortgage payment calculated?
It's based on the loan amount (property price minus deposit), the interest rate, and the length of the term.