Mortgage repayment calculator
Type the loan, the term and the rate. Add the rate after a fixed deal and any overpayments, monthly or as a lump sum, to see the payment, the interest and when it's paid off.
Estimate · guidance, not advice
- Interest is worked out monthly on what's owed. Your lender's figures come first.
Cost the whole home
Calm Money Home puts the mortgage together with council tax, bills and running costs, so you see what a place costs each month.
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How the monthly payment is worked out
On a repayment mortgage, each payment covers that month's interest and pays off some of the loan. Early on most of it is interest; near the end most of it is loan.
When a fixed rate ends
The payment is worked out again on what's left, at the rate after the fix, over the rest of the term. Type the years at the first rate and the rate after it to see both payments.
Overpaying
An overpayment comes off what you owe, so less interest builds up and the mortgage ends sooner. Many lenders allow up to 10% of the balance a year without a charge; your mortgage terms give the limit.
A worked example
A £200,000 repayment mortgage over 25 years at 4.5%: £1,111.66 a month, and £133,500.69 in interest over the term. Overpaying £100 a month saves £21,142.01 in interest and finishes 3 years and 6 months sooner.
Questions
What does interest-only mean?
You pay just the interest each month, so the loan is still owed at the end.
Updated
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