Mortgage Calculator
Calculate your monthly repayments, total interest, and see a full amortisation schedule.
Results are estimates for guidance only and do not constitute financial advice. Always consult a qualified professional for financial decisions.
How Mortgage Repayments Work
A repayment mortgage divides your loan into monthly payments that cover both interest and principal. In the early years, most of each payment goes toward interest. As the balance decreases, more goes toward paying off the loan itself. An interest-only mortgage only covers the interest each month — you must repay the full loan amount at the end of the term.
How is a mortgage repayment calculated?
Using the annuity formula: M = P × [r(1+r)^n] / [(1+r)^n – 1], where P is the loan, r is the monthly rate, and n is total monthly payments.
What is LTV?
Loan to Value — your mortgage as a percentage of the property value. Lower LTV typically means better rates.
What is the difference between repayment and interest only?
Repayment pays off the loan over the term. Interest only just covers interest — you owe the full amount at the end.
How much can I borrow?
Typically 4-5x your annual income, but this varies by lender and circumstances.
