Mortgage Repayment Calculator
Mortgage Repayment Calculator
See what your mortgage could cost each month, how much interest you will pay over the term, and what happens to your payments if rates go up. Works for repayment and interest only mortgages.
★★★★★ Helping homeowners across Scotland plan their payments. Rated 5 stars by 235+ clients on Google.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
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How It Works
Your Payment Depends on Three Things
The amount you borrow, the interest rate and the term all change your monthly payment.
- ✓Amount: the more you borrow, the higher the payment
- ✓Rate: even a small change can make a big difference
- ✓Term: longer terms mean lower payments but more interest overall
- ✓Type: interest only is cheaper monthly but you still owe the full amount
How We Help
Ways to Lower Your Payments
Five things to look at.
Compare Rates
The rate you pay makes the biggest difference. We compare lenders for you.
Adjust the Term
A longer term lowers payments, a shorter one saves interest.
Overpay When You Can
Paying a bit extra can cut years off your mortgage.
Plan for Your Deal Ending
Moving onto a standard variable rate can push payments up.
Check Fees
A low rate with a big fee is not always cheaper.
Repayment Calculator
Work Out Your Monthly Payment
See your monthly cost, the total interest and what happens if rates change.
Illustration only. Assumes the rate stays the same for the whole term. Does not include fees or insurance. With interest only, you still owe the full amount at the end of the term and need a plan to repay it.
Terms of up to 40 years are available with some lenders, usually depending on your age at the end of the term. A longer term lowers the monthly payment but means you pay more interest overall.
Book a Chat →📞 Call 01698 666021Or fill in the form below and we will be in touch within one working day.
Mortgage Types
Repayment, Interest Only and More
Which one suits you?
Standard Variable
The lender's own rate, usually higher. What you move onto when a deal ends.
Talk It Through →Common Questions
Repayment Questions, Answered
The things people ask us most.
How are mortgage repayments worked out?
Using the amount borrowed, the interest rate and the term. Our calculator shows the monthly payment and total interest.
What is the monthly payment on a £150,000 mortgage?
At 4.5% over 25 years on repayment, around £834 a month. Use the calculator for your own figures.
Is a longer term a good idea?
It lowers your payments but you pay more interest overall. It can help with affordability.
What happens if rates go up?
On a fixed rate, nothing until the deal ends. On a tracker or variable rate, your payment goes up.
Should I choose repayment or interest only?
Most people choose repayment. Interest only needs a clear plan to repay the loan.
Can I reduce my payments?
You may be able to switch deal, extend your term or overpay. We can look at your options.
Related guides
- How much can I borrow?
- Should I overpay my mortgage?
- What happens when your fixed rate ends
- Mortgage affordability checks explained
- All mortgage questions answered
Written by Tony Flynn, mortgage broker at Tony Flynn Mortgages, helping homebuyers across Lanarkshire and Scotland. This page is general information, not personal advice. Speak to Tony about your own circumstances.
Get in Touch
Want Lower Payments?
Fill in the form and we will be in touch within one working day. We will compare deals and show you exactly what you could pay.