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Property & Mortgage
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Mortgage Summary
Monthly Payment
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Loan Amount
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Total Repaid (mortgage)
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Total Interest
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Stamp Duty (est.)
£0
Total Cost of Purchase
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Cost Breakdown
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FAQs
How do I calculate my monthly mortgage payment?+
Your monthly payment depends on three things: the loan amount, the interest rate and the mortgage term. Use our calculator above — enter the property price and deposit to get the loan amount, then choose your rate and term. For a repayment mortgage, the formula is: M = P × [r(1+r)^n] / [(1+r)^n − 1] where P is the loan, r is the monthly rate and n is the number of payments.
What is the difference between repayment and interest-only?+
A repayment mortgage reduces your loan balance every month — you own the property outright at the end. An interest-only mortgage only pays the interest; the capital balance stays the same and must be repaid at the end via savings, investments or property sale. Interest-only has lower monthly payments but greater long-term risk.
How much deposit do I need for a UK mortgage?+
Most lenders require a minimum 5–10% deposit for residential purchases. The best mortgage rates are available at 25–40% deposit (60–75% LTV). First-time buyer schemes may allow 5% deposits. A higher deposit means lower monthly payments, lower total interest and access to better rates.
What are current UK mortgage rates in 2026?+
As of May 2026, typical 2-year fixed rates are 4.50–5.00% and 5-year fixed rates are 4.25–4.75%. Tracker rates follow the Bank of England base rate (currently 4.25%) plus a margin. The Standard Variable Rate (SVR) you revert to after a deal ends is typically 7.5–8.5% — always remortgage before your deal expires.
⚠️ Estimates only. Actual costs depend on your lender's criteria. Not financial advice.