Emiro

Mortgage Calculator UK

Calculate your UK mortgage repayment, model overpayments, and stress-test rate rises. Works for repayment, interest-only, and Buy-to-Let mortgages. Updated for 2025–26.

Your details

Monthly repayment
£1,491
Total interest
£197,226
Total repaid
£447,226
5.20% over 25 years · Property: £300,000

Balance over time

Watch how each repayment reduces your balance and shifts more money from interest to principal.

0y10y20y25y£447,226
Principal paidInterest paidRemaining balance

What if rates rise?

Your repayments at the current rate vs. a 1% and 2% rate rise.

At 5.20%
£1,491
monthly
+1% (6.20%)
£1,641
monthly
+£151 more
+2% (7.20%)
£1,799
monthly
+£308 more

Amortization schedule

Year-by-year (or month-by-month) balance, principal paid, and interest paid for the entire loan term. Download as PDF below.

25 years

YearPrincipalInterestBalance
1£5,007£12,882£244,993
2£5,274£12,615£239,719
3£5,555£12,334£234,164
4£5,851£12,038£228,313
5£6,162£11,727£222,151
6£6,490£11,399£215,661
7£6,836£11,053£208,825
8£7,200£10,689£201,624
9£7,584£10,305£194,041
10£7,988£9,902£186,053
11£8,413£9,476£177,640
12£8,861£9,028£168,779
13£9,333£8,556£159,447
14£9,830£8,059£149,617
15£10,353£7,536£139,263
16£10,905£6,984£128,358
17£11,486£6,403£116,873
18£12,097£5,792£104,775
19£12,742£5,147£92,034
20£13,420£4,469£78,614
21£14,135£3,754£64,479
22£14,888£3,001£49,591
23£15,681£2,209£33,911
24£16,516£1,373£17,395
25£17,395£494£0

Monthly view is approximated from yearly totals. Actual schedule depends on day-count and payment timing conventions used by your lender.

UK LTV tiers — why your deposit matters

UK lenders price mortgages in Loan-to-Value bands. The headline best-buy rates are almost always for 60% LTV or below. As LTV rises, rates step up at each tier:

If your deposit is just shy of a threshold (e.g. 84% LTV), pushing another £5–10k in to hit 80% can save tens of thousands over the mortgage life.

Worked example

A typical UK first-time buyer with a £250,000 mortgage on a £300,000 home (83% LTV) at a 5.2% 5-year fix over 25 years:

Adding the typical 10% annual overpayment (£25,000/year if you can afford it) can clear the loan in roughly 12 years instead of 25 — saving ~£110,000 in interest.

Don't forget stamp duty

On top of your deposit, you'll owe Stamp Duty Land Tax (SDLT in England & NI, LBTT in Scotland, LTT in Wales). On a £350,000 property in England, a standard buyer pays £7,500 SDLT — and an additional-property buyer pays £25,000. Use our UK Stamp Duty Calculator for an exact figure including first-time buyer relief and non-resident surcharges.

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Frequently Asked Questions

What is LTV and why does it matter?▾
LTV (Loan-to-Value) is the percentage of the property price you're borrowing. A £250,000 mortgage on a £300,000 home = 83% LTV. UK lenders price in tiers: rates step down at 95% → 90% → 85% → 80% → 75% → 60% LTV. The jump from 90% to 85% can save 0.3–0.7% on your rate — worth saving slightly more for the deposit if you're close to a threshold.
Repayment vs interest-only — which should I choose?▾
Repayment (capital + interest) is the standard for residential mortgages — you build equity every month and own the property outright at the end of the term. Interest-only means lower monthly payments but the full balance is still owed at the end. Almost all owner-occupier UK mortgages are repayment. Interest-only is now mainly for Buy-to-Let landlords or very high net worth borrowers with a clear repayment vehicle.
How much stamp duty (SDLT) will I pay?▾
From April 2025, standard buyers in England & NI pay 0% SDLT up to £125,000, then 2% up to £250,000, 5% up to £925,000, 10% up to £1.5M, and 12% above. First-time buyers get relief: 0% up to £300,000 and 5% on £300,001–£500,000. Additional-property buyers add a 5% surcharge on every band. Scotland (LBTT) and Wales (LTT) have different rates. Use our dedicated UK Stamp Duty Calculator linked below for the exact figure including all surcharges.
Fixed-rate or tracker mortgage?▾
Fixed-rate locks your payment for 2, 3, 5, or 10 years — most UK borrowers pick a 2- or 5-year fix. Tracker mortgages follow the Bank of England base rate plus a margin and can rise or fall. With BoE rates in 2026 around 4–5%, most borrowers are choosing 2-year fixes to wait out further movements. Fixed gives certainty; trackers can be cheaper but expose you to rate rises.
Can I make overpayments without penalty?▾
Most UK fixed-rate deals allow 10% overpayment per year without Early Repayment Charges (ERCs). Going above triggers ERCs of typically 1–5% of the overpaid amount. Tracker and SVR mortgages usually have no overpayment limits. Even 10% per year, consistently applied, can knock 8+ years off a 25-year mortgage.
How much can I borrow?▾
UK lenders typically lend 4–4.5× your gross annual income (some go to 5–5.5× for high earners or with a Loan-to-Income waiver). They also stress-test your affordability at the SVR (Standard Variable Rate) +1–2%. A joint income of £60,000 typically supports a mortgage of ~£240,000–£300,000, depending on credit history and outgoings.
Does this calculator include the arrangement fee?▾
No — this calculator covers monthly repayments only. UK mortgage arrangement fees (typically £999–£1,999) can be added to the loan or paid upfront. Adding them to the loan means you pay interest on them for the whole term; paying upfront is usually cheaper if cash flow allows.