UK Mortgage Payment Calculator: Monthly Payments by Amount, Rate & Term

By WealthVieu · Updated
This article is based on data from official government and regulatory sources. How we ensure accuracy

For the full first-time buyer roadmap and affordability framework, see the UK First-Time Buyers hub.

Your monthly mortgage payment depends on three things: how much you borrow, the interest rate, and the term length. Here’s a comprehensive set of tables to help you estimate your payments.

Monthly Payment by Loan Amount and Rate (25-Year Term)

Loan Amount 3.5% 4.0% 4.5% 5.0% 5.5% 6.0%
£100,000 £500 £527 £556 £585 £614 £644
£150,000 £751 £791 £834 £877 £920 £966
£200,000 £1,001 £1,055 £1,112 £1,170 £1,228 £1,289
£250,000 £1,251 £1,319 £1,390 £1,462 £1,535 £1,611
£300,000 £1,501 £1,583 £1,668 £1,754 £1,842 £1,933
£350,000 £1,752 £1,847 £1,946 £2,047 £2,149 £2,255
£400,000 £2,002 £2,111 £2,224 £2,339 £2,456 £2,577
£450,000 £2,252 £2,374 £2,502 £2,631 £2,763 £2,899
£500,000 £2,502 £2,638 £2,780 £2,924 £3,070 £3,221

Monthly Payment by Loan Amount and Rate (30-Year Term)

Loan Amount 3.5% 4.0% 4.5% 5.0% 5.5% 6.0%
£100,000 £449 £477 £507 £537 £568 £600
£150,000 £674 £716 £760 £806 £852 £899
£200,000 £898 £954 £1,013 £1,074 £1,136 £1,199
£250,000 £1,123 £1,193 £1,267 £1,342 £1,419 £1,499
£300,000 £1,347 £1,432 £1,520 £1,610 £1,703 £1,799
£350,000 £1,572 £1,670 £1,773 £1,879 £1,987 £2,098
£400,000 £1,796 £1,909 £2,027 £2,147 £2,271 £2,398
£450,000 £2,021 £2,148 £2,280 £2,416 £2,555 £2,698
£500,000 £2,245 £2,387 £2,533 £2,684 £2,839 £2,998

Monthly Payment by Term Length

For a £250,000 mortgage at different rates and terms:

Term 4.0% 4.5% 5.0% 5.5%
15 years £1,849 £1,912 £1,977 £2,043
20 years £1,515 £1,582 £1,650 £1,720
25 years £1,319 £1,390 £1,462 £1,535
30 years £1,193 £1,267 £1,342 £1,419
35 years £1,107 £1,183 £1,262 £1,342

Shorter terms mean higher monthly payments but dramatically less total interest.

Total Interest Paid Over Full Term

For a £250,000 mortgage at 4.5%:

Term Monthly Payment Total Payments Total Interest Interest as % of Loan
15 years £1,912 £344,160 £94,160 38%
20 years £1,582 £379,680 £129,680 52%
25 years £1,390 £417,000 £167,000 67%
30 years £1,267 £456,120 £206,120 82%
35 years £1,183 £497,460 £247,460 99%

On a 35-year term you’d pay nearly as much in interest as the original loan amount.

Impact of Deposit Size

For a £300,000 property at 4.5%:

Deposit Deposit % Loan Amount Monthly Payment (25yr) Mortgage Insurance
£15,000 5% £285,000 £1,586 Likely higher rate (higher LTV)
£30,000 10% £270,000 £1,502 Standard rate
£45,000 15% £255,000 £1,419 Better rate available
£60,000 20% £240,000 £1,335 Best standard rates
£75,000 25% £225,000 £1,251 Best rates available
£120,000 40% £180,000 £1,001 Lowest rates

A larger deposit gives you access to lower interest rates and a smaller loan — double savings.

Fixed vs Variable Rates

Rate Type Typical Rate (2026) Best For Risk
2-year fixed 4.0% – 4.8% Short-term certainty Rate may rise at remortgage
5-year fixed 4.2% – 5.0% Medium-term planning Less flexibility
10-year fixed 4.5% – 5.3% Maximum security May miss rate drops
SVR (Standard Variable) 6.0% – 8.0% Never choose this intentionally Very expensive
Tracker (base rate + X%) 4.5% – 5.5% If you expect rates to fall Payments can increase
Discount variable 4.0% – 5.0% Short-term saving Unpredictable

⚠️ Always remortgage before your fixed deal ends — defaulting to SVR can cost hundreds per month.

Overpayment Impact

Most mortgages allow overpayments of up to 10% per year. Here’s the impact on a £250,000 mortgage at 4.5% over 25 years:

Monthly Overpayment New Term Interest Saved Time Saved
£0 (minimum) 25 years £0 0 years
£50 23 years 2 months £13,800 1 year 10 months
£100 21 years 7 months £25,600 3 years 5 months
£200 19 years 1 month £44,100 5 years 11 months
£500 14 years 8 months £79,800 10 years 4 months

Even £100/month in overpayments saves over £25,000 in interest and knocks 3.5 years off the term.

Stamp Duty to Budget For

In addition to your mortgage payment, factor in upfront costs:

Property Price Stamp Duty (England) Stamp Duty (First-Time Buyer)
£200,000 £0 £0
£300,000 £2,500 £0
£400,000 £7,500 £5,000
£500,000 £12,500 £12,500
£600,000 £17,500 £17,500

How Much Can You Borrow?

Lenders typically offer 4 to 4.5 times your annual income:

Annual Income Borrow (4x) Borrow (4.5x) Monthly Payment at 4.5% (25yr)
£30,000 £120,000 £135,000 £751
£40,000 £160,000 £180,000 £1,001
£50,000 £200,000 £225,000 £1,251
£60,000 £240,000 £270,000 £1,502
£75,000 £300,000 £337,500 £1,877
£100,000 £400,000 £450,000 £2,502

See our mortgage affordability calculator for a personalised estimate.

Interest-Only vs Repayment

For a £250,000 mortgage at 4.5%:

Type Monthly Payment Total Paid (25yr) Balance at End
Repayment £1,390 £417,000 £0
Interest-only £938 £281,400 £250,000
Difference £452/month less Still owe full amount

Interest-only is £452/month cheaper but you still owe the full £250,000 at the end. You must have a plan to repay the capital.

Key Takeaways

  1. A £250K mortgage at 4.5% costs £1,390/month over 25 years
  2. Shorter terms save dramatically — 15 years saves £73,000 vs 25 years
  3. £100/month overpayment saves £25,600 in interest on a £250K mortgage
  4. A larger deposit means both a lower rate and smaller loan
  5. Always remortgage before SVR — SVR rates are typically 6-8%
  6. Lenders offer 4-4.5x income — joint incomes help significantly
  7. Interest-only saves monthly but you still owe the full balance at the end
WealthVieu
Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.

The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy