Mortgage Calculator

Use the mortgage calculator below to estimate your monthly payments for a given mortgage amount, interest rate and term. Don't forget, if you have an interest only mortgage you also need to be saving elsewhere to pay off the loan amount at the end of the term, otherwise you will be effectively renting from the bank.

Amount: 
 
Annual Interest Rate: 
(Current 5-year fixed rate mortgages are around 5.7%)
 
Number of Years: 




Monthly payment:  
 
Interest only:  
 
Total repayment:  
 

But be careful: compared with historic averages, interest rates since 1999 have been very low, so don't get lulled into a false sense of security. The payments if the interest rate went up to 10% are shown below. Can you still afford them?

At 10% your repayments would be:
 
Monthly payment:  
 
Interest only:  
 
Total repayment:  
 
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