Mortgage repayment calculator
Work out what your monthly payments could look like with the mortgage repayment calculator. Enter the amount you want to borrow, the term and interest rate and see the estimated amount you could pay on a repayment mortgage each month.
Work out your mortgage repayments
Repayment
Monthly payment
##repmp##
Total amount payable
##reptotal##
How does the repayment calculator work?
The repayment calculator gives you a quick example based on the figures you input. It assumes your mortgage interest rate stays the same throughout your deal. But rates can change – for example, if you change deals or have a tracker mortgage - which could affect your monthly repayments. The results should be used as a guide only.
Here is a summary of each part of the calculator and how they work.
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Repayment |
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Repayment Amount |
Enter the amount you want on repayment. |
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Repayment Term
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Enter your preferred mortgage term to the nearest year. A longer term will mean you’ll pay less each month but pay more interest overall. This means the total you pay will be more. |
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Repayment Interest |
Enter your interest rate for example, 3.59%. We’ll tell you what rates you qualify for when you apply. |
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Repayment Monthly payment |
This is an estimate and may differ from your actual payment. |
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Repayment Total amount payable |
Total you’ll repay over the term of the repayment mortgage. |
We use the following assumptions in the calculations:
- All years are of equal length.
- We work out interest monthly.
- We round your balance and total interest to the nearest pound.
- The product is a repayment mortgage – where you pay back both the capital and interest each month.
- There won't be any changes in interest rate.
- There won't be any other changes to your mortgage which would change your monthly payment.
Ready to see our mortgage rates?
For a more exact idea of what your mortgage repayments could be you can use the full mortgage calculator. You will also see what mortgage rates we have too.
Give us a few simple details to get started.
Let’s look at the details
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With a repayment mortgage, your monthly payments go towards both the total amount borrowed and the interest payable. In the early years, a larger portion of each payment goes towards interest. Over time, as the balance reduces, more of each payment goes towards paying off the capital.
By the end of the mortgage term, the entire loan is paid off – so long as you’ve kept up with your monthly payments. You might also be able to repay your mortgage early, though early repayment charges may apply. It’s worth checking the terms of your deal before doing so.
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It varies from lender to lender. At Lloyds, we usually offer repayment mortgages with a term of up to 40 years. Shorter terms tend to have higher mortgage repayments, but longer mortgage terms mean you could end up paying more interest overall.
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