See what a mortgage actually costs you each month — and the total you'll pay back over the full term once interest and fees are added in.
The rate this calculator uses for the whole term. Real mortgages usually re-fix every 2–5 years, after which the rate changes — often to the lender's higher reversion rate. The binding rate comes with your mortgage offer (ESIS).
How long you spread the mortgage over. A longer term lowers the monthly payment but increases the total interest you pay across the life of the loan.
Repayment pays off both interest and capital, so the balance clears by the end of the term. Interest only pays just the interest each month — the monthly cost is lower, but the full amount borrowed is still owed at the end and needs a separate repayment plan.
Product or arrangement fees charged by the lender. You can pay these upfront, or add them to the loan (tick the box) — adding them spreads the cost but means you pay interest on the fee for the whole term.
what you'd pay each month at the rate and term you entered.
We take your mortgage amount (plus any fees you've added to the loan) and your interest rate over your term in months.
For a repayment mortgage we use the standard amortisation formula so the balance clears by the end of the term. For interest only, the monthly cost is just the interest on the balance.
Total repaid is the monthly payment across every month of the term, plus fees (and, for interest only, the capital you still owe at the end). Total interest is everything paid above the amount borrowed.
Payam Azadi breaks down the difference between your monthly payment and the true total cost of a mortgage — and how the term and rate change both.
Get a real rate from a lender that fits you.
This is an estimate. Your actual monthly payment depends on the rate and product you qualify for — we compare lenders to find the one that suits your situation.
This calculator is a guide. The figures shown are illustrative and based on the inputs you provide — they are not a quote, a mortgage offer, or financial advice. The calculation assumes your interest rate stays the same for the whole term, which it usually won't: most UK mortgages re-fix every 2–5 years and the rate then changes, often to the lender's higher reversion rate. Interest-only mortgages require a separate repayment plan for the capital at the end of the term. Your real monthly payment and total cost also depend on your credit history, monthly commitments, deposit, the property and each lender's stress tests, and individual circumstances may produce different results.
Niche Advice Limited accepts no responsibility for any decisions made on the basis of this calculator. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority (FCA Reference: 750263). Your home may be repossessed if you do not keep up repayments on your mortgage.
Lender criteria and interest rates change frequently. Always confirm any figure with a qualified, FCA-regulated mortgage broker before acting on it.
"How to use this calculator" — short video coming soon.