How to Use the UK Mortgage Repayment Calculator
Enter your property price, deposit amount, interest rate and mortgage term, then click Calculate. The tool instantly shows your monthly repayment, total amount repaid, and total interest charged over the full term.
Understanding Your Results
Monthly Repayment — The amount you pay each month combining capital repayment and interest.
LTV (Loan to Value) — The percentage of the property you're borrowing. A lower LTV usually means a better interest rate. Most lenders offer their best rates at 60% LTV or below.
Total Interest — The true cost of the mortgage over its full lifetime. This can be significantly reduced by making overpayments.
UK Mortgage Rate Guide 2026
| LTV | Typical 2-Year Fix | Typical 5-Year Fix |
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| 60% LTV | 3.8% – 4.2% | 3.9% – 4.4% |
| 75% LTV | 4.0% – 4.5% | 4.1% – 4.7% |
| 85% LTV | 4.5% – 5.2% | 4.6% – 5.3% |
| 95% LTV | 5.2% – 6.0% | 5.3% – 6.1% |
💡 Money-saving tip: Overpaying your mortgage by even £100/month on a £240,000 loan at 4.5% can save over £20,000 in interest and shorten your term by 3 years.
Frequently Asked Questions
How much can I borrow for a UK mortgage?
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Most UK lenders allow borrowing of 4–4.5 times your annual salary. On a £40,000 salary, you could typically borrow £160,000–£180,000. Joint applications use combined income. Some professional mortgages allow up to 5.5x income.
What is the average UK mortgage interest rate in 2026?
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Average 2-year fixed rates in 2026 are around 4.0%–5.0% depending on LTV. Tracker rates follow the Bank of England base rate. Always compare rates from multiple lenders or use a mortgage broker.
What happens if I overpay my mortgage?
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Overpaying reduces your outstanding balance, which reduces interest charged on future months. This shortens your mortgage term and saves significant interest. Most lenders allow overpayments of up to 10% per year without penalty.
Fixed vs variable rate — which is better?
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A fixed rate gives certainty — your payment stays the same for the fixed period regardless of Bank of England rate changes. A variable/tracker rate moves with the base rate — good if rates fall, risky if they rise.
What is an interest-only mortgage?
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An interest-only mortgage means your monthly payments only cover the interest, not the capital. At the end of the term, you still owe the full loan amount. These are mainly used for buy-to-let properties.