Mortgage Calculator - How much will your mortgage cost?
 

Mortgage Calculator

Our mortgage calculator is an easy way to see how much your mortgage repayments will cost you each month. It is a great way to compare the monthly cost of different mortgage rates and is a useful guide to exploring how much you might be able to afford on a mortgage each month. The mortgage calculator also allows you to compare the difference in monthly payments between repayment and interest-only products – however, remember, for interest-only you will also need to plan to repay the loan at the end of the life of the mortgage. 

Mortgage Quick Repayment Calculator
  1. Enter your details and press calculate to display the results
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  1. Please note, for an interest only mortgage you will also need to save sufficient funds to repay the mortgage at the end of the repayment period.

All calculations given by Moneyfacts.co.uk are provided in good faith and to the best of our knowledge are accurate. However reliance should not be placed on them and you should check all terms and figures with your chosen product provider before proceeding.

What next?

 

What does the mortgage calculator do?

This calculator simply takes a single mortgage rate for one single time period. For example, if you are looking for a total mortgage term of 10 years and are considering a 10-year fixed rate mortgage, you can use this calculator to show one mortgage rate over 10 years. If you are looking for a total mortgage term that is longer than your mortgage’s initial rate, then you could use the APRC rate to give you an estimate of your payments (noting your monthly payments during the initial term will be lower.) You can use our Mortgage Search to get an exact monthly figure based on your own specific circumstances and find a mortgage deal at the same time! 

How to use our mortgage calculator

The calculator is easy to use – simply put in the amount of money you are planning to borrow, add the number of years you want to pay back your mortgage, add the mortgage rate percentage and then use the drop-down box to select if the interest is calculated daily, monthly, quarterly or yearly. If you are planning to add any mortgage fees onto your mortgage balance, then remember to include this too in the amount you want to borrow. 

Click the calculate button and it will show our calculation for the monthly mortgage payment on both a repayment mortgage and an interest-only mortgage. 

If you’ve never had a mortgage before and are confused as to which is the best option for you, our Getting on the ladder: First-time buyers’ guide may be able to help. 
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