Mortgage payment calculator

What this calculator does

It turns a property price, your deposit, a rate, and a term into the number that actually governs your life: what leaves your account every month. It also shows the loan-to-value ratio (the share of the price you are borrowing, which drives the rate lenders offer you) and the total interest over the full term, a figure banks are in no hurry to print on posters.

How this calculator works

The payment comes from the standard annuity formula: level monthly payments at your rate over your term. Early payments are mostly interest and late ones mostly principal; the chart shows that balance shifting as the years pass. The total cost figure is simply every monthly payment added up, and the interest figure is that total minus what you borrowed.

What it leaves out: arrangement and valuation fees, any insurance the lender requires, rate changes after a fixed period ends, overpayments, and the purchase taxes and notary costs that vary by country. It prices the loan, not the whole purchase. A real offer also depends on affordability checks and lending rules in your market, which no calculator can see from here.

When to use it (and when not)

Use it before viewings, not after: knowing your monthly ceiling turns 'can we afford this' from a mood into a number. Then stress-test it by adding a couple of percentage points to the rate; if the payment still fits, the mortgage fits. Do not read the result as a promise of what a lender will offer, and do not let the total-interest figure frighten you into paralysis. It is a reason to compare terms and to renegotiate when your fixed period ends, nothing more.

This calculator is educational, not financial advice, and not a lending decision. The payment shown is an illustration of the figures you entered; a real offer depends on a lender's criteria, its fees, and the rules of your market, and rates change. It names no lender and recommends no product. Before you sign, talk to a regulated adviser or broker in your market.