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Mortgage Calculator – Calculate your monthly mortgage payment

Use our handy mortgage calculator to work out your monthly mortgage payments and check how much you can afford to borrow.

The exact amount you have to pay each month might depend on your bank or building society, and any charges / fees that they might add to the mortgage loan as part of giving you credit.  Look out for setup fees, product reservation fees and home valuation charges.

But the calculator below will give you a very good guide to your expected monthly payments.



Note: Interest rates can vary over time.  If your mortgage is a variable rate or tracker, make sure you will still be able to afford the monthly payments if interest rates rise.  Use the calculator to check what your premium would be if interest rates rose by a couple of percentage points.

With a Repayment Mortgage (Capital and Interest) your monthly mortgage premiums will reduce the outstanding debt every month.

With an Interest Only mortgage you are only paying the interest on the loan, you are not paying off the capital (the large amount you borrowed).  At the end of the mortgage, the bank will still want the full amount paid back, so you need to have an alternative savings scheme running which will have the required amount in it to pay off the capital.

As always, think very carefully before taking out a loan or mortgage secured against your home.  If you cannot keep up the repayments on the loan or mortgage, your home may be repossessed by your lender.

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