How much does a mortgage cost?

You can use this calculator to find out what your monthly repayment might be based on the amount you want to borrow and the deposit you have available.

You can also:

experiment with different interest rates to see what your payments might be if interest rates rise

What you will need

You will need information to hand about the:

price of the property you are thinking of buying
deposit you have available (which should be around 10% of the purchase price)

If you haven’t found a property or saved a deposit yet, just estimate the value for now. You can always change these on the results screen to try different combinations.

Estimated time to complete: 5 minutes

Calculator tool: calculate your monthly mortgage payment

The tool above is provided by the MoneyHelper. Please refer to their website for the MoneyHelper privacy notice.

Key points

This calculator only provides a rough guide to what a mortgage might cost you
The result will show you how much the mortgage might cost you based on a repayment mortgage over a 25 year repayment term and with a specific interest rate
You can change the purchase price, your deposit, the term and the interest rate to see how much the mortgage might cost you under different circumstances on the results screen

Next steps

If you think you are ready

start looking at properties to buy in your price range and slightly above, you may be able to get a deal on price
see as many properties as you can so that when you find ‘the one’ you can be more confident you are buying the right property for you at the right price