Mortgage Calculator
Calculate your monthly mortgage payments and total cost.
Monthly Payment
£1,389.58
Total Interest
£166,874.36
Total Cost
£416,874.36
Principal (60%) Interest (40%)
Compare Terms
| Term | Monthly | Total Interest | Total Cost |
|---|---|---|---|
| 15 years | £1,912.48 | £94,246.98 | £344,246.98 |
| 20 years | £1,581.62 | £129,589.63 | £379,589.63 |
| 25 years | £1,389.58 | £166,874.36 | £416,874.36 |
| 30 years | £1,266.71 | £206,016.78 | £456,016.78 |
| 35 years | £1,183.14 | £246,919.57 | £496,919.57 |
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Mortgage FAQ
How is the monthly payment calculated?
This calculator uses the standard amortisation formula. It assumes a fixed interest rate and equal monthly payments over the full term. The formula accounts for compound interest applied monthly.
Should I choose a shorter or longer term?
Shorter terms mean higher monthly payments but significantly less total interest paid. Longer terms reduce monthly payments but cost more overall. Use the comparison table above to see the difference.