Using the Mortgage Calculator UK
If a deal has an initial fixed-rate period, use this as a payment estimate for that rate rather than a prediction of the entire mortgage. The rate paid after the deal ends may be different.
Worked example
Use the example inputs below to reproduce this result. These are the form's starting values, not recommended targets. Changing your inputs updates your result above; this worked example stays fixed for comparison. Results are rounded for display.
Example inputs
- Amount borrowed
- 20000
- Annual interest rate (%)
- 6
- Term (months)
- 60
Example result
- Monthly payment
- 386.66
- Total interest
- 3,199.36
Method and assumptions
Monthly repayment mortgage with constant rate. Excludes stamp duty, fees and insurance.
Build a complete housing comparison
A housing calculation usually answers one part of a larger decision. Keep the purchase price, financing, recurring ownership expenses and eventual sale assumptions in separate lines of your budget. This makes it easier to spot costs omitted by a particular model. When comparing alternatives, use the same time horizon and currency for both.
Common question
Should I enter the property price or the mortgage amount?
Enter the amount borrowed after the deposit, adding only charges actually financed into the loan. The purchase price alone would overstate the financed balance.
Guide updated .