Mortgage Repayment Calculator
Whether you're planning ahead or just curious, our smart mortgage repayment calculator gives you a quick snapshot of what you might pay each month in seconds.
Use our handy mortgage repayment calculator for guidance only. The figures are illustrative, and your actual mortgage payments may differ.
Mortgage Type
With a repayment mortgage you repay all the capital and interest during the term. For interest-only, you only repay the interest amount each month and the capital is repaid in full at the end of the term.Your monthly repayment:
Total amount repayable:
Total interest payable:
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Mortgage Repayments 101
Answers to all the key mortgage repayment questions. No jargon. No fluff. Just real guidance to help you feel in control of your mortgage journey.
Several factors will impact what your mortgage repayments will be, mainly:
The size of your mortgage loan
Your deposit
The interest rate and type of mortgage you select
Your mortgage term
When comparing different mortgage deals, small differences in any of the above could have a big effect on your repayments.
Our mortgage repayment calculator is a quick and easy tool that gives you an idea of your monthly repayments in seconds. Remember, these figures are a guide. Your exact repayments will depend on what the outcome is for all of the above factors.
As a general rule of thumb, most mortgage lenders will offer around 4 to 4.5 times your annual income as a mortgage. This is usually the starting point. Lenders will then look further at your income and outgoings, the size of your deposit, age, and credit history to assess your overall affordability.
To get a rough idea, you can use our mortgage affordability calculator.
Everyone’s situation is different. At Picnic, our mortgage team can help you figure out exactly how much you can borrow based on your own personal circumstances. Just click the button below to make an enquiry, and we’ll help you get started.
Most traditional mortgage terms are 25 years, but they can be both shorter or longer, depending on your circumstances. Some lenders offer mortgages for just 5 years if that’s affordable to the applicant and acceptable to the lender.
Longer-term mortgages, up to 45 years, are now available and designed to help make mortgage repayments as affordable as possible.
There are two main ways to repay your mortgage: capital and repayment, or interest-only.
If you’re buying a home to live in, capital and repayment mortgages are by far the most common choice. Interest-only mortgages are typically only used for buying investment properties, such as buy-to-let.
You can find out more about how each repayment method works in our guide: Interest-Only Mortgage or Capital Repayment: Which to Choose?.
This depends on the mortgage deal and the length of your mortgage term.
Using our mortgage repayment calculator as a rough guide, a £150,000 mortgage could cost you £808 per month, based on a 4.2% interest rate and a 25-year mortgage term.
Using the same mortgage term, but with a lower interest rate of 3.95%, the repayments could be £788 per month.
Ready to start your mortgage journey and find out exactly what deals are available? Great—just click on the button below, and a member of our mortgage team will contact you to get the ball rolling.
This depends on the mortgage deal and the length of your mortgage term.
Using our mortgage repayment calculator as a rough guide, a £200,000 mortgage could cost you £1,056 per month, based on a 4% interest rate and a 25-year mortgage term.
Using the same interest rate, but over 30 years, the repayments could be £955 per month.
Ready to start your mortgage journey and find out exactly what deals are available? Great—just click on the button below, and a member of our mortgage team will contact you to get the ball rolling.
This depends on the mortgage deal and the length of your mortgage term.
Using our mortgage repayment calculator as a rough guide, a £250,000 mortgage could cost you £1,354 per month, based on a 4.25% interest rate and a 25-year mortgage term.
Using the same interest rate, but over 35 years, the repayments could be £1,145 per month.
Ready to start your mortgage journey and find out exactly what deals are available? Great—just click on the button below, and a member of our mortgage team will contact you to get the ball rolling.
This depends on the mortgage deal and the length of your mortgage term.
Using our mortgage repayment calculator as a rough guide, a £300,000 mortgage could cost you £1,584 per month, based on a 4% interest rate and a 25-year mortgage term.
Using the same interest rate, but over 30 years, the repayments could be £1,432 per month.
Ready to start your mortgage journey and find out exactly what deals are available? Great—just click on the button below, and a member of our mortgage team will contact you to get the ball rolling.
This depends on the mortgage deal and the length of your mortgage term.
Using our mortgage repayment calculator as a rough guide, a £400,000 mortgage could cost you £2,100 per month, based on a 3.95% interest rate and a 25-year mortgage term.
Using the same interest rate, but over 30 years, the repayments could be £1,898 per month.
Ready to start your mortgage journey and find out exactly what deals are available? Great—just click on the button below, and a member of our mortgage team will contact you to get the ball rolling.