Mortgage & Loan Calculator
See your monthly mortgage or loan payment, how much interest you will pay overall, and how your balance falls year by year.
Your mortgage
Year by year
| Year | Interest | Capital | Balance |
|---|---|---|---|
| 1 | £10,023 | £4,984 | £220,016 |
| 2 | £9,794 | £5,213 | £214,802 |
| 3 | £9,555 | £5,453 | £209,349 |
| 4 | £9,304 | £5,703 | £203,646 |
| 5 | £9,042 | £5,965 | £197,680 |
| Year | Interest | Capital | Balance |
|---|---|---|---|
| 1 | £10,023 | £4,984 | £220,016 |
| 2 | £9,794 | £5,213 | £214,802 |
| 3 | £9,555 | £5,453 | £209,349 |
| 4 | £9,304 | £5,703 | £203,646 |
| 5 | £9,042 | £5,965 | £197,680 |
| 6 | £8,768 | £6,240 | £191,441 |
| 7 | £8,481 | £6,526 | £184,915 |
| 8 | £8,182 | £6,826 | £178,089 |
| 9 | £7,868 | £7,140 | £170,949 |
| 10 | £7,540 | £7,468 | £163,482 |
| 11 | £7,197 | £7,811 | £155,671 |
| 12 | £6,838 | £8,169 | £147,502 |
| 13 | £6,463 | £8,545 | £138,957 |
| 14 | £6,070 | £8,937 | £130,020 |
| 15 | £5,660 | £9,348 | £120,672 |
| 16 | £5,230 | £9,777 | £110,895 |
| 17 | £4,781 | £10,226 | £100,668 |
| 18 | £4,311 | £10,696 | £89,972 |
| 19 | £3,820 | £11,188 | £78,784 |
| 20 | £3,306 | £11,702 | £67,083 |
| 21 | £2,768 | £12,239 | £54,844 |
| 22 | £2,206 | £12,801 | £42,042 |
| 23 | £1,618 | £13,390 | £28,653 |
| 24 | £1,003 | £14,005 | £14,648 |
| 25 | £359 | £14,648 | £0 |
How mortgage payments are calculated
Repayment mortgages use a standard formula so that each monthly payment is the same and the loan is cleared exactly at the end of the term:
M = P × r(1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
where P is the amount borrowed, r is the monthly interest rate (annual rate ÷ 12) and n is the number of monthly payments. Early payments are mostly interest. As the balance falls, more of each payment goes towards the loan itself.
How the rate changes your payment (£200,000 over 25 years)
| Rate | Monthly | Total interest |
|---|---|---|
| 3.5% | £1,001 | £100,374 |
| 4.5% | £1,112 | £133,499 |
| 5.5% | £1,228 | £168,452 |
Ways to pay less
- Bigger deposit: a lower LTV unlocks better rates.
- Overpay: most lenders allow up to 10% a year without a fee.
- Remortgage on time: avoid rolling onto your lender’s standard variable rate when a fixed deal ends.
Buying a home? Check your stamp duty too.
Figures are estimates and do not include fees, insurance or rate changes. Speak to a mortgage adviser before making decisions.
Sources
Figures are checked against these official sources. Last reviewed 7 November 2026.
Common questions
How much is a £200,000 mortgage per month?
At 4.5% over 25 years, a £200,000 repayment mortgage costs about £1,112 a month. At 5% it is about £1,169 a month. Use the calculator above with your own rate.
What is the difference between repayment and interest-only?
With a repayment mortgage each payment covers interest and part of the loan, so you owe nothing at the end. With interest-only you only pay the interest, so the monthly cost is lower but you still owe the full amount at the end of the term.
What is loan to value (LTV)?
LTV is the loan as a percentage of the property price. A £225,000 loan on a £250,000 home is 90% LTV. Lower LTVs usually get cheaper interest rates, with notable steps at 60%, 75%, 85% and 90%.
Does a longer term save money?
A longer term lowers the monthly payment but increases the total interest you pay, often by tens of thousands of pounds.
Can I use this for a car loan or personal loan?
Yes. Set the deposit to £0, enter the amount you are borrowing, the APR and the term in years.