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Mortgage Calculator
Work out your monthly mortgage payment, the total interest you'll pay and how your balance falls over time. Choose any major or world currency.
Currency
Monthly payment
£1,539.58
Total of all payments
£461,874.36
Total interest
£166,874.36
Payment to income
38.5%
Monthly payment breakdown
£1,539.58
Principal & interest£1,389.58
Tax & insurance£150.00
Total cost breakdown
£461,874.36
Principal£250,000.00
Interest£166,874.36
Tax & insurance£45,000.00
Payments over the years
Year 1Year 25
Tap or hover a bar to see that year's split.
Payment schedule
Swipe to see the full schedule and balance.
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | £1,389.58 | £452.08 | £937.50 | £249,547.92 |
| 2 | £1,389.58 | £453.78 | £935.80 | £249,094.14 |
| 3 | £1,389.58 | £455.48 | £934.10 | £248,638.66 |
| 4 | £1,389.58 | £457.19 | £932.39 | £248,181.48 |
| 5 | £1,389.58 | £458.90 | £930.68 | £247,722.58 |
| 6 | £1,389.58 | £460.62 | £928.96 | £247,261.96 |
| 7 | £1,389.58 | £462.35 | £927.23 | £246,799.61 |
| 8 | £1,389.58 | £464.08 | £925.50 | £246,335.52 |
| 9 | £1,389.58 | £465.82 | £923.76 | £245,869.70 |
| 10 | £1,389.58 | £467.57 | £922.01 | £245,402.13 |
| 11 | £1,389.58 | £469.32 | £920.26 | £244,932.81 |
| 12 | £1,389.58 | £471.08 | £918.50 | £244,461.73 |
Mortgage glossary
- Loan amount
- The sum you borrow from the lender, usually the property price minus your deposit.
- Annual interest rate
- The yearly cost of borrowing, charged on the balance you still owe.
- Term
- How many years you take to repay the loan in full.
- Principal
- The part of each payment that reduces what you owe.
- Interest
- The part of each payment that goes to the lender as the cost of borrowing.
- Amortization
- The schedule showing how each payment splits between principal and interest until the balance reaches zero.
- Tax & insurance
- Regular property taxes and insurance often paid alongside the mortgage.
- Payment to income
- Your monthly payment as a share of take-home pay — lenders often look for this to stay below around 28–35%.
Figures are estimates for a fixed-rate repayment mortgage and are for information only.