Ways to lower your monthly payment
- Increase the deposit so the loan amount is smaller
- Look for a lower mortgage interest rate
- Choose a longer term if lower monthly cost matters more than total interest
- Reduce the target property price
Financial / Mortgage Tools
Mortgage Payment Calculator
Estimate your monthly mortgage payment from the property price, deposit, interest rate, loan term, and selected currency.
Mortgage Inputs
Use these values to estimate a rough principal-and-interest mortgage payment.
Monthly mortgage payment
GBP1,574
Principal and interest only. Taxes, insurance, and fees are not included.
Loan amount
GBP285,000
Property price minus deposit.
Total interest paid
GBP282,000
Estimated total interest over the full mortgage term.
Total paid over term
GBP567,000
Monthly payment multiplied over the full term.
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Mortgage payment calculator FAQ
- This result covers principal and interest only, so taxes, insurance, fees, and maintenance are not included
- Even a small rate change can materially affect the monthly payment over a long mortgage term
- A larger deposit usually lowers both the monthly payment and the total interest paid over the life of the mortgage
When to use this tool
- Use this calculator when you already know the rough property price and want to estimate the monthly mortgage payment
- Use the house affordability calculator first if you want to start from income, deposit, and borrowing comfort instead
- Use the mortgage overpayment calculator after this if you want to test how extra monthly payments could shorten the term