UK Mortgage Calculator
Plan your home purchase with confidence. Calculate your monthly mortgage payments, understand your affordability, and explore different scenarios to find the best mortgage option for your needs.
Make Informed Mortgage Decisions
Understanding your mortgage options is crucial when purchasing a property. Our UK Mortgage Calculator provides accurate estimates based on current interest rates and helps you plan your finances for one of life's biggest investments.
UK Mortgage Calculator
Your Mortgage Results
Monthly Payment
£0
Per Month
Total Repayment
£0
Over Full Term
Loan Details
- Loan Amount: £0
- Loan to Value (LTV): 0%
- Mortgage Type: Repayment
Cost Breakdown
- Total Interest: £0
- Arrangement Fee: £0
- Total Cost: £0
What do these results mean?
These calculations provide an estimate of your mortgage payments based on the information you entered. Actual mortgage rates and offers may vary based on your credit score, the lender, and other factors. We recommend speaking with a mortgage advisor for personalized advice.
How Our UK Mortgage Calculator Works
Enter Property Details
Input the property value, your deposit amount, and see your loan-to-value (LTV) ratio calculated instantly.
Choose Mortgage Options
Select your preferred mortgage term and type, and input the interest rate based on current market offerings.
Include Additional Costs
Factor in arrangement fees and other costs to get a comprehensive view of your mortgage expenses.
View Detailed Results
Get a complete breakdown of monthly payments, total cost, and interest payments over the life of your mortgage.
Current UK Mortgage Rates
Below are representative mortgage rates available in the UK market as of April 2025. Rates are subject to change and depend on individual circumstances.
| Mortgage Type | LTV | 2-Year Fixed | 5-Year Fixed | Variable |
|---|---|---|---|---|
| First-time buyer | 90% | 4.35% | 4.15% | 4.50% |
| Moving home | 85% | 4.10% | 3.95% | 4.25% |
| Remortgage | 75% | 3.85% | 3.70% | 4.00% |
| Buy-to-let | 75% | 4.75% | 4.60% | 4.95% |
| Low deposit | 95% | 4.85% | 4.70% | 5.10% |
Note: These rates are for illustrative purposes only. Actual rates will depend on your personal circumstances, credit score, and chosen lender. Always consult with a mortgage advisor before making decisions.
Frequently Asked Questions For UK Mortgages
With a repayment mortgage, your monthly payments cover both the interest and a portion of the principal loan amount. By the end of the mortgage term, you will have paid off the entire loan and own your property outright.
With an interest-only mortgage, your monthly payments only cover the interest on your loan. The principal amount remains unchanged and must be repaid in full at the end of the mortgage term. This option requires you to have a separate repayment strategy in place.
LTV (Loan-to-Value) is the ratio of your mortgage amount to the property's value, expressed as a percentage. For example, if you're buying a £300,000 property with a £60,000 deposit, your mortgage would be £240,000, giving an LTV of 80%.
LTV is important because it affects:
- The interest rates available to you (lower LTVs typically receive better rates)
- Your eligibility for certain mortgage products
- The amount of equity you have in your property
- Your risk of negative equity if property prices fall
The minimum deposit typically required for a UK mortgage is 5% of the property's value (95% LTV), although these mortgages often come with higher interest rates. Most buyers aim for at least a 10% deposit (90% LTV) to access better mortgage deals.
Deposit requirements can vary based on:
- Your credit history and financial situation
- The type of property you're buying
- Whether you're a first-time buyer, home mover, or buy-to-let investor
- Current economic conditions and lender risk appetites
The larger your deposit, the lower your LTV, which typically results in better mortgage rates and reduced monthly payments.
Beyond the deposit and monthly mortgage payments, you should budget for:
- Stamp Duty Land Tax - A tax on property purchases in England and Northern Ireland (different systems apply in Scotland and Wales)
- Legal fees - Typically £1,000-£1,500 for a solicitor or conveyancer
- Surveyor's fees - £400-£1,500 depending on the type of survey
- Mortgage arrangement fees - Often £1,000-£2,000
- Valuation fees - £150-£1,500 depending on property value
- Electronic transfer fee - Around £40-£50
- Moving costs - £500-£2,000 depending on volume and distance
- Initial furnishing and decorating - Variable based on your needs
- Building and contents insurance - Required by most mortgage lenders
Balancing mortgage repayments and retirement planning is important for long-term financial security:
- Consider a mortgage term that allows you to pay off your mortgage before retirement
- Don't neglect pension contributions while paying your mortgage
- Take advantage of workplace pension schemes with employer matching
- Consider overpaying on your mortgage when possible to reduce the term and total interest paid
- Regularly review both your mortgage and pension to ensure they remain on track
For comprehensive retirement planning alongside your mortgage strategy, use our UK Pension Calculator to project your future retirement income.
Plan Your Complete Financial Future
Understanding both your mortgage costs and future pension income is essential for comprehensive financial planning. Use our calculators to make informed decisions for your future.