Interest only mortgage repayment calculator

Is your interest-only rate changing, or are you thinking of switching to interest-only payments? Use the calculator to see how your payments might be impacted.

Work out your interest only mortgage payments

It’s easy to work out your interest only mortgage repayments with the calculator tool. You’ll just need your current mortgage details to get started. You can find this information in online banking or our mobile app.

  • Enter your current mortgage balance.
  • Put in the number of years and months left plus the current interest rate of your mortgage.
  • Select 'Calculate' to show the interest only mortgage payment. You can then see how it compares to your current monthly repayment.

Do you have any sub-accounts? You’ll need to enter each one separately, then add the interest only payments together to work out your total.

£
If your interest rate is due to change next month, please use your new rate.
Calculate

Your monthly payments:

Once your interest only payments have finished, the amount you pay each month will go up.

Your current monthly payment amount:

##repmp##

While making interest only payments, you’ll pay:

##ipm##

After six months of interest only payments, you’ll pay:

##repmp06##

Remember to add the details of any sub-accounts individually and add them together to get your total monthly payment.

These figures are for illustrative purposes only.

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Let’s look at the details

  • If you’re worried about paying your mortgage, we’ve got a range of options that could help you stay on top of your mortgage payments.

    Get mortgage support

  • The interest only mortgage calculator is designed to provide a helpful estimate of what your interest only repayments could be. To do this, we use a set of assumptions:

    • You will calculate the interest only payments for any sub-accounts individually and add them together.
    • Each year is the same length.
    • Interest is worked out monthly.
    • Monthly payment amounts are rounded to the nearest pound.
    • Your mortgage will not change and there will be no payment adjustments.
    • Your interest rate will stay the same.

  • A sub-account is created when you make a change to your mortgage and we split your balance into several parts. Each sub-account might come with its own interest rate, mortgage term and balance. They also tend to have their own monthly payment amount. You can add these together to work out your total monthly mortgage payment.

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