Mortgage Repayment Calculator

Mortgage Repayment Calculator: Check your Costs

Crunch the numbers with our new mortgage calculator tools - developed by leading industry experts. Fill in the form below for a callback.

    Mortgage Payment Calculator

    Calculate your estimated monthly mortgage repayments, costs, and interest rates at the click of a button.


    Your Monthly Mortgage Payments is


    What is a Mortgage?

    Purchasing a home is a large financial move – meaning that in order to get onto the property ladder, you’ll most likely need to borrow some money. That’s where mortgages come in.

    When buying a home in the UK, you’ll usually be required to put down a cash deposit upfront – but this only covers a fraction of the property value (typically between 5 to 20%). To pay for the remainder of the cost, you’ll most likely need to successfully apply for a mortgage: a long-term, high-value property loan generally provided by a bank or building society.  After the keys are in your hands, you’ll be required to pay the money you borrowed plus interest back in monthly instalments over a predetermined number of years.    

    The amount you’ll pay back monthly will depend on a number of factors, including the type of mortgage chosen, the amount borrowed, and the loan provider. 

    Next Steps: Mortgage in Principle

    Want evidence of how much you can afford to borrow? A mortgage in principle is the perfect step up from online calculators – offering a more accurate result, and documentation designed to stake your claim as a serious and capable buyer.

    We’ll put together a comprehensive document accurately demonstrating your borrowing potential for no additional cost – helping put you in a good position to make an offer the seller can’t refuse.

    Sample Lenders

    Not Sure Where to Start?

    Need advice beyond calculations? Fees Free Mortgages are here to help. 

    Our expert team of mortgage brokers and advisors are here to help at every step of your mortgage journey. If you’re in need of more than just a mortgage borrowing calculation, our free mortgage advice service could help get you on the right track. We’re always available to offer independent, fully-tailored mortgage advice in simple, understandable terms and at no extra cost.

    Learn More

    Don’t Take Our Word For It

    Discover our clients’ mortgage success stories.

    I had so many questions and unknowns about buying my first home but none of them were too silly for Martin to answer. He helped me with finding the mortgage lender that suited me and did all the paperwork upfront, so to make everything run smoothly later on. He advised me with insurance and gave me me guidance and updates every step of the way. For me, Martin made buying my first home an exciting experience, not a stressful one and I would recommend him every time. Thank you.

    Rachael Parnell

    First Time Buyer Mortgage


    Martin Bright has been exceptional throughout a long and convoluted process. After three attempts at securing a house (and three mortgage searches), Martin was patient and professional, always happy to help and always finding a better deal than I thought possible. He explains things clearly and puts forward his thoughts and justifications in a very considered way. I have a 5yr fix at 0.9%. Which beggars belief really! Fantastic outcome, brilliant service and a thoroughly nice chap all round. Wouldn’t hesitate to recommend, and I already have done to a couple of friends looking to secure their own mortgages.

    Alex Prentice

    First Time Buyer Mortgage


    Martin and his team were always quick to respond from mortgage application through to completion. He provided valuable advice and insight throughout, especially during the economic downturn and rapid rises with interest rates, and secured us a great deal with a lightning fast turnaround. Also, Adelle made obtaining Life and Financial Protection insurance super easy – allowing us time to look through the deals she prepared and was always willing to explain complex or unfamiliar terms to us. When we end up moving house in the future – I’m sure I’ll be giving Fees Free Mortgages a call.

    Daniel Percey

    Free Mortgage Advice


    For anyone buying a new home, looking to re-mortgage or interested in setting up life cover – then Martin is absolutely your man. My wife and I have been using Martin for the past 4-years for our mortgages, personal and business life cover, and I would never go else where. Martin offers a very personal and professional service, he is extremely knowledgeable, honest and consistent, and is always looking for the best option for his client. I would highly recommend, great guy.

    Michael John Vingerhoets

    Self Employed Mortgage



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    Property and Mortgage News

    Our team of industry-leading advisors are ready to assist you in your mortgage journey. For expert fees-free mortgage advice, or to discuss any of our services, please contact us using the contact form below, or visit us in our flagship branch, or reach out to your local advisor.

    Get Started


    Understanding your potential mortgage repayment costs is hugely important. It’s possible to calculate your mortgage payments by hand using the equation Mortgage = P[i(1+i)^n] / [(1+i)^n-1] where p= principle amount, i = monthly interest rate, and n = the loan term in months – but there’s plenty of room for human error in this method. That’s why we’ve developed a simple online mortgage payment calculator, designed to show you how much your selected deal will cost you per month. It takes into account the amount of money you’re borrowing, the interest rates and fees of the mortgage deal you’ve selected, and the mortgage term – or how long you’ll be making payments for.

    Mortgage payments consist of two main elements – principle payments, and interest payments. The principal balance is simply the original sum of money borrowed to purchase the house, which must be paid off over time. Payments towards the principle balance reduce the amount you owe on your mortgage, and increase your equity. Interest is the lender’s charge or reward for taking the risk of lending you money. Your interest rate has a direct impact on the size of your mortgage payments – with higher interest rates meaning bigger bills. Some payments may also include taxes and insurance depending on your unique circumstances and lender.

    Whether or not you can afford a mortgage is entirely down to your unique circumstances – meaning it’s impossible to give a ‘one size fits all’ answer! If you’re unsure as to how much you’ll be able to afford, our mortgage experts recommend using one of our simple online mortgage calculators above to gain some insight as to your borrowing potential, alongside potential stamp duty costs, repayments, and your LTV. 

    If you’re looking for advice beyond this, our experts highly recommend arranging a fee-free, no-obligation mortgage advice appointment or consultation with us, during which one of our experienced mortgage brokers will work through your finances, and make accordant recommendations for your next steps.

    Within the context of a mortgage, the ‘principle’ is the initial size of the loan, whilst the principle balance refers to the exact amount of the principle left to repay.  For example, if you took out a £180,000 mortgage on a house, your principle would be £180,000. If with time, you paid off £50,000 of the principle, your principle balance would be £130,000. 

    The principle is not the only element of your monthly mortgage repayments, however. Your payments will first go towards paying off your accrued interest, with the remainder contributing to the principle.

    An interest-only mortgage involves the repayment of only interest charges over the full term of the loan – meaning monthly payments will be lower, but that you’ll still owe the entire amount borrow (or ‘principle’) by the end of the mortgage’s specified timeframe. For this reason, if you’re looking to select an interest-only mortgage, it’s important to ensure you’ll be able to repay the principle when due.

    If you’re considering an interest-only mortgage, or currently have an interest-only mortgage and would like to switch to a repayment plan or remortgage, a skilled broker could be key to ensuring you end up with the best possible product for your circumstances. Our experienced advisors are proud to offer free mortgage advice and consultation services both online and in branch. To book in, fill in the contact form above, or reach out to us over the phone.