UK Mortgage Calculator – Estimate Monthly Repayments
Calculate UK mortgage repayments, including interest-only and stamp duty estimate.
About the UK Mortgage Calculator
What is the UK Mortgage Calculator?
A UK mortgage calculator estimates monthly mortgage repayments and gives a rough stamp duty land tax figure for England.
Why use this calculator?
UK buyers juggle deposits, loan-to-value bands, fixed versus tracker rates and stamp duty. A repayment estimate helps you work out what is affordable before applying.
How to use it
- Enter the property price and your deposit.
- Enter the interest rate and the mortgage term.
- Review the monthly repayment and the alternative interest-only payment.
- Check the approximate stamp duty figure.
Formula
Monthly repayment = loan × r / (1 − (1+r)^−n)
Stamp duty rules and thresholds vary by nation and change with budgets. This is an approximation for England only.
Frequently Asked Questions
What is loan-to-value?
LTV is the loan amount divided by the property value. Lower LTV means a bigger deposit and usually a lower interest rate.
Repayment versus interest-only?
A repayment mortgage pays off the loan by the end of the term. An interest-only mortgage is cheaper monthly but you must repay the capital another way.
What is included in a monthly mortgage payment?
Most payments combine principal, interest, property taxes and homeowners insurance (often called PITI). Some loans also include private mortgage insurance (PMI).
What is PMI and when can I drop it?
Private mortgage insurance is usually required when your down payment is under 20%. You can typically request removal once you reach 20% equity.
Fixed versus adjustable rate — which is better?
A fixed rate keeps the same interest rate for the whole term, giving predictable payments. An adjustable rate starts lower but can rise after the initial period.
How much house can I afford?
A common guideline is that housing costs stay below 28% of gross monthly income and total debt below 36%, though lenders and budgets vary.
What is the difference between pre-qualification and pre-approval?
Pre-qualification is a quick estimate based on self-reported data. Pre-approval is a verified commitment after a lender reviews your finances.
Is this calculator free to use?
Yes. Every calculator on this site is completely free, with no hidden fees, no subscriptions and no limits on how many times you can use it.
How accurate are the results?
We use standard, widely accepted formulas and calculate in your browser using double-precision arithmetic. Results are rounded for readability, so treat them as reliable estimates rather than a guarantee. Real-world factors can vary the true figure.
Can I add this calculator to my own website?
Yes. Open this calculator page and use the "Add to your website" box in the sidebar to copy a ready-made iframe snippet, then paste it into any HTML page.