OverPayWise

Mortgage planning tools

Free mortgage repayment calculator

Estimate monthly mortgage payments before you commit.

Work out the monthly repayment, total interest, total repaid, deposit percentage, and loan-to-value for a repayment mortgage.

Practical purchase planning

Model a home price, deposit, rate, and term before comparing overpayments or affordability.

Estimated monthly payment

£1,334

Based on a 80% loan-to-value mortgage.

Inputs

Mortgage details

Estimate

Results

Monthly repayment

£1,334

Mortgage amount

£240,000

Loan-to-value

80%

Total interest

£160,199

Total repaid

£400,199

Assumes a repayment mortgage with a fixed interest rate for the full term. Fees, insurance, taxes, and rate changes are not included.

Assumptions

Assumptions to review

Check these inputs before relying on the result.

Mortgage balance
£240,000
Property price minus deposit. This is the balance being repaid.
Interest rate
4.5%
Assumed to stay fixed for the full mortgage term.
Mortgage term
25 years
The number of years used to spread the repayment mortgage.
Product fees
Not included
Product fees, insurance, taxes, and future rate changes are outside this estimate.

Last reviewed

12 June 2026

Interest method

Monthly interest is estimated from the annual rate unless a page states a different method. Lender figures can use daily interest, product-specific rules, and exact payment dates.

Educational scope

UK-focused calculator estimate. It explains trade-offs and does not make a personal recommendation.

How this is calculated
  1. The annual interest rate is converted into a monthly rate.
  2. Each month, interest is estimated on the current mortgage balance.
  3. The repayment first covers that month's interest. The rest reduces the balance.
  4. As the balance falls, less interest is charged and more of each payment goes towards the debt.

Learn the mortgage maths behind these estimates →

Main limitations
  • The estimate uses the values entered on this page and does not check lender eligibility, affordability, credit history, product availability, or personal tax treatment.
  • Fees, ERCs, insurance, valuation costs, legal costs, rate changes, and overpayment rules are included only where the calculator explicitly asks for them.

Results are estimates based on the assumptions shown here. They are not financial advice and can differ from lender figures because real products, fees, rate changes, overpayment rules, and repayment timing vary.

Learn the maths

Work out a mortgage repayment by hand

Follow a plain-English lesson covering the inputs, repayment formula, variable definitions, a UK worked example, common mistakes, and practice questions with fully worked solutions.

Open the repayment lesson

Balance path

Estimated mortgage balance over time

YearBalanceInterest paidPrincipal paid
0£240,000£0£0
5£210,859£9,645£6,363
10£174,380£8,043£7,965
15£128,717£6,037£9,971
20£71,555£3,526£12,482
25£0£383£15,625

Important disclaimer

This calculator provides estimates only and does not constitute financial advice. Mortgage costs may vary depending on lender fees, product fees, insurance, taxes, rate changes, repayment rules, and your final mortgage offer.

Review the OverPayWise methodology and editorial standards

Learn This Calculation

Understand the lesson behind Mortgage Repayment Calculator.

Use the education page before relying on the result. It explains the assumptions, shows the maths, gives worked examples, and includes practice questions so the estimate is easier to check.

Tutorial

Learn how the repayment formula turns loan amount, rate, and term into a monthly estimate.

Maths lesson

Covers monthly interest, amortisation, total interest, total repaid, and loan-to-value.

Worked examples

Works through a purchase price, deposit, 4.5% rate, and 25-year term manually.

Practice questions

Practise estimating monthly payments and checking the mortgage balance and LTV.

Next Lesson

Compare two mortgage deals

Move from one repayment estimate to a side-by-side product comparison.

OverPayWise provides educational estimates only. It is not FCA authorised, does not provide regulated financial advice, and does not arrange mortgages.