The UK Mortgage Calculator is mainly intended for United Kingdom residents using the British Pound currency.
Interest Only: £1,562.50
Monthly Repayment: £2,192.21
Monthly
Total
Mortgage Payment
£2,192.21
£657,663.80
Taxes
£500.00
£150,000.00
Home Insurance
£208.33
£62,500.00
Other Costs
£500.00
£150,000.00
Total Out-of-Pocket
£3,400.55
£1,020,163.80
Loan Amount
£375,000.00
Mortgage Deposit
£125,000.00
Total Interest
£282,663.80
Amortization schedule
Month
Date
Interest
Principal
Ending Balance
1
05/2025
£1,562
£630
£374,370
2
6/2025
£1,560
£632
£373,738
3
7/2025
£1,557
£635
£373,103
4
8/2025
£1,555
£638
£372,465
5
9/2025
£1,552
£640
£371,825
6
10/2025
£1,549
£643
£371,182
7
11/2025
£1,547
£646
£370,537
8
12/2025
£1,544
£648
£369,888
9
1/2026
£1,541
£651
£369,237
10
2/2026
£1,538
£654
£368,583
11
3/2026
£1,536
£656
£367,927
12
4/2026
£1,533
£659
£367,268
End of year 1
13
5/2026
£1,530
£662
£366,606
14
6/2026
£1,528
£665
£365,941
15
7/2026
£1,525
£667
£365,274
16
8/2026
£1,522
£670
£364,604
17
9/2026
£1,519
£673
£363,931
18
10/2026
£1,516
£676
£363,255
19
11/2026
£1,514
£679
£362,576
20
12/2026
£1,511
£681
£361,895
21
1/2027
£1,508
£684
£361,210
22
2/2027
£1,505
£687
£360,523
23
3/2027
£1,502
£690
£359,833
24
4/2027
£1,499
£693
£359,140
End of year 2
25
5/2027
£1,496
£696
£358,444
26
6/2027
£1,494
£699
£357,746
27
7/2027
£1,491
£702
£357,044
28
8/2027
£1,488
£705
£356,339
29
9/2027
£1,485
£707
£355,632
30
10/2027
£1,482
£710
£354,922
31
11/2027
£1,479
£713
£354,208
32
12/2027
£1,476
£716
£353,492
33
1/2028
£1,473
£719
£352,773
34
2/2028
£1,470
£722
£352,050
35
3/2028
£1,467
£725
£351,325
36
4/2028
£1,464
£728
£350,597
End of year 3
37
5/2028
£1,461
£731
£349,865
38
6/2028
£1,458
£734
£349,131
39
7/2028
£1,455
£738
£348,393
40
8/2028
£1,452
£741
£347,653
41
9/2028
£1,449
£744
£346,909
42
10/2028
£1,445
£747
£346,162
43
11/2028
£1,442
£750
£345,412
44
12/2028
£1,439
£753
£344,659
45
1/2029
£1,436
£756
£343,903
46
2/2029
£1,433
£759
£343,144
47
3/2029
£1,430
£762
£342,381
48
4/2029
£1,427
£766
£341,616
End of year 4
49
5/2029
£1,423
£769
£340,847
50
6/2029
£1,420
£772
£340,075
51
7/2029
£1,417
£775
£339,300
52
8/2029
£1,414
£778
£338,521
53
9/2029
£1,411
£782
£337,740
54
10/2029
£1,407
£785
£336,955
55
11/2029
£1,404
£788
£336,166
56
12/2029
£1,401
£792
£335,375
57
1/2030
£1,397
£795
£334,580
58
2/2030
£1,394
£798
£333,782
59
3/2030
£1,391
£801
£332,981
60
4/2030
£1,387
£805
£332,176
End of year 5
61
5/2030
£1,384
£808
£331,368
62
6/2030
£1,381
£812
£330,556
63
7/2030
£1,377
£815
£329,741
64
8/2030
£1,374
£818
£328,923
65
9/2030
£1,371
£822
£328,101
66
10/2030
£1,367
£825
£327,276
67
11/2030
£1,364
£829
£326,447
68
12/2030
£1,360
£832
£325,615
69
1/2031
£1,357
£835
£324,780
70
2/2031
£1,353
£839
£323,941
71
3/2031
£1,350
£842
£323,099
72
4/2031
£1,346
£846
£322,253
End of year 6
73
5/2031
£1,343
£849
£321,403
74
6/2031
£1,339
£853
£320,550
75
7/2031
£1,336
£857
£319,693
76
8/2031
£1,332
£860
£318,833
77
9/2031
£1,328
£864
£317,970
78
10/2031
£1,325
£867
£317,102
79
11/2031
£1,321
£871
£316,231
80
12/2031
£1,318
£875
£315,357
81
1/2032
£1,314
£878
£314,478
82
2/2032
£1,310
£882
£313,597
83
3/2032
£1,307
£886
£312,711
84
4/2032
£1,303
£889
£311,822
End of year 7
85
5/2032
£1,299
£893
£310,929
86
6/2032
£1,296
£897
£310,032
87
7/2032
£1,292
£900
£309,132
88
8/2032
£1,288
£904
£308,228
89
9/2032
£1,284
£908
£307,320
90
10/2032
£1,280
£912
£306,408
91
11/2032
£1,277
£916
£305,492
92
12/2032
£1,273
£919
£304,573
93
1/2033
£1,269
£923
£303,650
94
2/2033
£1,265
£927
£302,723
95
3/2033
£1,261
£931
£301,792
96
4/2033
£1,257
£935
£300,857
End of year 8
97
5/2033
£1,254
£939
£299,919
98
6/2033
£1,250
£943
£298,976
99
7/2033
£1,246
£946
£298,030
100
8/2033
£1,242
£950
£297,079
101
9/2033
£1,238
£954
£296,125
102
10/2033
£1,234
£958
£295,166
103
11/2033
£1,230
£962
£294,204
104
12/2033
£1,226
£966
£293,238
105
1/2034
£1,222
£970
£292,267
106
2/2034
£1,218
£974
£291,293
107
3/2034
£1,214
£978
£290,314
108
4/2034
£1,210
£983
£289,332
End of year 9
109
5/2034
£1,206
£987
£288,345
110
6/2034
£1,201
£991
£287,354
111
7/2034
£1,197
£995
£286,360
112
8/2034
£1,193
£999
£285,360
113
9/2034
£1,189
£1,003
£284,357
114
10/2034
£1,185
£1,007
£283,350
115
11/2034
£1,181
£1,012
£282,338
116
12/2034
£1,176
£1,016
£281,322
117
1/2035
£1,172
£1,020
£280,302
118
2/2035
£1,168
£1,024
£279,278
119
3/2035
£1,164
£1,029
£278,250
120
4/2035
£1,159
£1,033
£277,217
End of year 10
121
5/2035
£1,155
£1,037
£276,180
122
6/2035
£1,151
£1,041
£275,138
123
7/2035
£1,146
£1,046
£274,092
124
8/2035
£1,142
£1,050
£273,042
125
9/2035
£1,138
£1,055
£271,988
126
10/2035
£1,133
£1,059
£270,929
127
11/2035
£1,129
£1,063
£269,865
128
12/2035
£1,124
£1,068
£268,798
129
1/2036
£1,120
£1,072
£267,725
130
2/2036
£1,116
£1,077
£266,649
131
3/2036
£1,111
£1,081
£265,568
132
4/2036
£1,107
£1,086
£264,482
End of year 11
133
5/2036
£1,102
£1,090
£263,392
134
6/2036
£1,097
£1,095
£262,297
135
7/2036
£1,093
£1,099
£261,198
136
8/2036
£1,088
£1,104
£260,094
137
9/2036
£1,084
£1,108
£258,985
138
10/2036
£1,079
£1,113
£257,872
139
11/2036
£1,074
£1,118
£256,754
140
12/2036
£1,070
£1,122
£255,632
141
1/2037
£1,065
£1,127
£254,505
142
2/2037
£1,060
£1,132
£253,373
143
3/2037
£1,056
£1,136
£252,237
144
4/2037
£1,051
£1,141
£251,095
End of year 12
145
5/2037
£1,046
£1,146
£249,949
146
6/2037
£1,041
£1,151
£248,799
147
7/2037
£1,037
£1,156
£247,643
148
8/2037
£1,032
£1,160
£246,483
149
9/2037
£1,027
£1,165
£245,318
150
10/2037
£1,022
£1,170
£244,147
151
11/2037
£1,017
£1,175
£242,973
152
12/2037
£1,012
£1,180
£241,793
153
1/2038
£1,007
£1,185
£240,608
154
2/2038
£1,003
£1,190
£239,418
155
3/2038
£998
£1,195
£238,224
156
4/2038
£993
£1,200
£237,024
End of year 13
157
5/2038
£988
£1,205
£235,819
158
6/2038
£983
£1,210
£234,610
159
7/2038
£978
£1,215
£233,395
160
8/2038
£972
£1,220
£232,175
161
9/2038
£967
£1,225
£230,951
162
10/2038
£962
£1,230
£229,721
163
11/2038
£957
£1,235
£228,486
164
12/2038
£952
£1,240
£227,245
165
1/2039
£947
£1,245
£226,000
166
2/2039
£942
£1,251
£224,750
167
3/2039
£936
£1,256
£223,494
168
4/2039
£931
£1,261
£222,233
End of year 14
169
5/2039
£926
£1,266
£220,967
170
6/2039
£921
£1,272
£219,695
171
7/2039
£915
£1,277
£218,418
172
8/2039
£910
£1,282
£217,136
173
9/2039
£905
£1,287
£215,849
174
10/2039
£899
£1,293
£214,556
175
11/2039
£894
£1,298
£213,258
176
12/2039
£889
£1,304
£211,954
177
1/2040
£883
£1,309
£210,645
178
2/2040
£878
£1,315
£209,330
179
3/2040
£872
£1,320
£208,010
180
4/2040
£867
£1,326
£206,685
End of year 15
181
5/2040
£861
£1,331
£205,354
182
6/2040
£856
£1,337
£204,017
183
7/2040
£850
£1,342
£202,675
184
8/2040
£844
£1,348
£201,327
185
9/2040
£839
£1,353
£199,974
186
10/2040
£833
£1,359
£198,615
187
11/2040
£828
£1,365
£197,250
188
12/2040
£822
£1,370
£195,880
189
1/2041
£816
£1,376
£194,504
190
2/2041
£810
£1,382
£193,122
191
3/2041
£805
£1,388
£191,735
192
4/2041
£799
£1,393
£190,341
End of year 16
193
5/2041
£793
£1,399
£188,942
194
6/2041
£787
£1,405
£187,537
195
7/2041
£781
£1,411
£186,126
196
8/2041
£776
£1,417
£184,710
197
9/2041
£770
£1,423
£183,287
198
10/2041
£764
£1,429
£181,859
199
11/2041
£758
£1,434
£180,424
200
12/2041
£752
£1,440
£178,984
201
1/2042
£746
£1,446
£177,537
202
2/2042
£740
£1,452
£176,085
203
3/2042
£734
£1,459
£174,626
204
4/2042
£728
£1,465
£173,162
End of year 17
205
5/2042
£722
£1,471
£171,691
206
6/2042
£715
£1,477
£170,214
207
7/2042
£709
£1,483
£168,731
208
8/2042
£703
£1,489
£167,242
209
9/2042
£697
£1,495
£165,747
210
10/2042
£691
£1,502
£164,245
211
11/2042
£684
£1,508
£162,737
212
12/2042
£678
£1,514
£161,223
213
1/2043
£672
£1,520
£159,703
214
2/2043
£665
£1,527
£158,176
215
3/2043
£659
£1,533
£156,643
216
4/2043
£653
£1,540
£155,103
End of year 18
217
5/2043
£646
£1,546
£153,557
218
6/2043
£640
£1,552
£152,005
219
7/2043
£633
£1,559
£150,446
220
8/2043
£627
£1,565
£148,881
221
9/2043
£620
£1,572
£147,309
222
10/2043
£614
£1,578
£145,730
223
11/2043
£607
£1,585
£144,145
224
12/2043
£601
£1,592
£142,554
225
1/2044
£594
£1,598
£140,955
226
2/2044
£587
£1,605
£139,350
227
3/2044
£581
£1,612
£137,739
228
4/2044
£574
£1,618
£136,121
End of year 19
229
5/2044
£567
£1,625
£134,496
230
6/2044
£560
£1,632
£132,864
231
7/2044
£554
£1,639
£131,225
232
8/2044
£547
£1,645
£129,580
233
9/2044
£540
£1,652
£127,927
234
10/2044
£533
£1,659
£126,268
235
11/2044
£526
£1,666
£124,602
236
12/2044
£519
£1,673
£122,929
237
1/2045
£512
£1,680
£121,249
238
2/2045
£505
£1,687
£119,562
239
3/2045
£498
£1,694
£117,868
240
4/2045
£491
£1,701
£116,167
End of year 20
241
5/2045
£484
£1,708
£114,459
242
6/2045
£477
£1,715
£112,743
243
7/2045
£470
£1,722
£111,021
244
8/2045
£463
£1,730
£109,291
245
9/2045
£455
£1,737
£107,555
246
10/2045
£448
£1,744
£105,810
247
11/2045
£441
£1,751
£104,059
248
12/2045
£434
£1,759
£102,300
249
1/2046
£426
£1,766
£100,535
250
2/2046
£419
£1,773
£98,761
251
3/2046
£412
£1,781
£96,980
252
4/2046
£404
£1,788
£95,192
End of year 21
253
5/2046
£397
£1,796
£93,397
254
6/2046
£389
£1,803
£91,594
255
7/2046
£382
£1,811
£89,783
256
8/2046
£374
£1,818
£87,965
257
9/2046
£367
£1,826
£86,139
258
10/2046
£359
£1,833
£84,306
259
11/2046
£351
£1,841
£82,465
260
12/2046
£344
£1,849
£80,616
261
1/2047
£336
£1,856
£78,760
262
2/2047
£328
£1,864
£76,896
263
3/2047
£320
£1,872
£75,024
264
4/2047
£313
£1,880
£73,145
End of year 22
265
5/2047
£305
£1,887
£71,257
266
6/2047
£297
£1,895
£69,362
267
7/2047
£289
£1,903
£67,459
268
8/2047
£281
£1,911
£65,548
269
9/2047
£273
£1,919
£63,629
270
10/2047
£265
£1,927
£61,701
271
11/2047
£257
£1,935
£59,766
272
12/2047
£249
£1,943
£57,823
273
1/2048
£241
£1,951
£55,872
274
2/2048
£233
£1,959
£53,912
275
3/2048
£225
£1,968
£51,945
276
4/2048
£216
£1,976
£49,969
End of year 23
277
5/2048
£208
£1,984
£47,985
278
6/2048
£200
£1,992
£45,993
279
7/2048
£192
£2,001
£43,992
280
8/2048
£183
£2,009
£41,983
281
9/2048
£175
£2,017
£39,966
282
10/2048
£167
£2,026
£37,940
283
11/2048
£158
£2,034
£35,906
284
12/2048
£150
£2,043
£33,864
285
1/2049
£141
£2,051
£31,812
286
2/2049
£133
£2,060
£29,753
287
3/2049
£124
£2,068
£27,685
288
4/2049
£115
£2,077
£25,608
End of year 24
289
5/2049
£107
£2,086
£23,522
290
6/2049
£98
£2,094
£21,428
291
7/2049
£89
£2,103
£19,325
292
8/2049
£81
£2,112
£17,213
293
9/2049
£72
£2,120
£15,093
294
10/2049
£63
£2,129
£12,964
295
11/2049
£54
£2,138
£10,825
296
12/2049
£45
£2,147
£8,678
297
1/2050
£36
£2,156
£6,522
298
2/2050
£27
£2,165
£4,357
299
3/2050
£18
£2,174
£2,183
300
4/2050
£9
£2,183
£0
End of year 25
Year
Date
Interest
Principal
Ending Balance
1
5/25-4/26
£18,574
£7,732
£367,268
2
5/26-4/27
£18,179
£8,128
£359,140
3
5/27-4/28
£17,763
£8,544
£350,597
4
5/28-4/29
£17,326
£8,981
£341,616
5
5/29-4/30
£16,866
£9,440
£332,176
6
5/30-4/31
£16,383
£9,923
£322,253
7
5/31-4/32
£15,876
£10,431
£311,822
8
5/32-4/33
£15,342
£10,964
£300,857
9
5/33-4/34
£14,781
£11,525
£289,332
10
5/34-4/35
£14,191
£12,115
£277,217
11
5/35-4/36
£13,572
£12,735
£264,482
12
5/36-4/37
£12,920
£13,386
£251,095
13
5/37-4/38
£12,235
£14,071
£237,024
14
5/38-4/39
£11,515
£14,791
£222,233
15
5/39-4/40
£10,759
£15,548
£206,685
16
5/40-4/41
£9,963
£16,343
£190,341
17
5/41-4/42
£9,127
£17,180
£173,162
18
5/42-4/43
£8,248
£18,059
£155,103
19
5/43-4/44
£7,324
£18,982
£136,121
20
5/44-4/45
£6,353
£19,954
£116,167
21
5/45-4/46
£5,332
£20,975
£95,192
22
5/46-4/47
£4,259
£22,048
£73,145
23
5/47-4/48
£3,131
£23,176
£49,969
24
5/48-4/49
£1,945
£24,361
£25,608
25
5/49-4/50
£699
£25,608
£0
In the United Kingdom (UK), it is usually very helpful when potential mortgage borrowers show good preparation for the process by bringing along all the information that may be required when applying for a mortgage at a bank, such as:
addresses for the last three years, no gaps
income information for the last three months, as well as three years of income records
bank statements for the past three months, though it can help to have more
documentation of loans or credit cards
On top of that, a good second step is to check credit scores and raise any questionable negative marks with the banker that issues the mortgage. Assuming good credit in the UK, it is possible to borrow with a relatively small down payment. There are many mortgage loan products requiring deposits of 5% or less of the property value, though it can change accordingly with market conditions.
Tracker Mortgage
A tracker mortgage is a type of mortgage that follows the movements of other rates, the most common of which is the Bank of England base rate. Most banks in the UK favor variable-rate mortgages in one form or another. Therefore, there are a wider variety of mortgages of this type in the UK. Some mortgages start out as trackers and, after a few years, become standard variable-rate mortgages.
Introductory tracker rates can be among the lowest mortgage interest rates available. However, like all variable rates, they can go up as well as down. Also, most introductory tracker rates will likely have an early repayment charge when remortgaged or repaid during the introductory period. Borrowers with a lifetime tracker mortgage can expect to see early repayment charges for a period after being taken out.
Flexible Mortgage
A flexible mortgage is a mortgage type that allows the borrower to overpay, underpay, or take a payment holiday from a mortgage from time to time. The overpayment feature can be used to pay the loan down faster, either in lump sums or as part of the regular payment process. The underpayment feature is used to make lower monthly payments from time to time, and payment holidays can be used to avoid payment for brief stints, sometimes up to six months. However, these features usually come with special charges and conditions, so shop around carefully and compare the costs of flexible mortgages.
Stamp Duty
A unique aspect of mortgages in the UK is stamp duty, which is a tax that is charged as a percentage of the purchase price when a property is bought. Depending on the price bracket that the property falls in, the percentage can vary:
Up to £250,000
0%
From £250,001 to £925,000
5%
From £925,001 to £1,500,000
10%
Over £1,500,001
12%
There is a special discount (relief) for first-time buyers if the purchase price is £625,000 or less. Stamp tax is not applicable for first-time buyers of properties worth £425,000 or less and the existing rate of 5% will apply between £425,000 and £625,000. Properties over £625,000 follow the same rules as buyers not buying for the first time.
There are other special rules that apply in regards to stamp duty in the UK, such as higher rates for additional properties and different rates in different countries. Furthermore, special rules apply in specific instances, including the replacement of a main residence, when corporate bodies or shared ownership properties are involved, when buying six or more properties in one transaction, for multiple transfers between the same buyers and sellers, and many more. Stamp duty can be complex, and it is best to consult professionals to determine the precise rate that will be charged on any property purchase.