Use our quick and easy mortgage repayment calculator to find out how much your monthly repayments would be with a certain borrowed amount. Enter into the boxes how much you want to borrow, the length of the mortgage, and the amount of interest you expect to pay. Only enter digits into the boxes, omit commas, pound signs or percentage signs.
After you hit ‘Submit’ the first figure, ‘Monthly Payment’, tells you how much you will be repaying each month for a standard repayment mortgage.
The second figure, ‘Interest Only’ is the amount of interest incurred on the borrowed amount each month. If you have an endowment mortgage, this will be you interest payment every month. Use this figure to work out how much you will have each month to pay into an investment to repay the borrowed amount at the end of the mortgage period.
This tool should just be used as a guideline. Always find out from your lender how much your monthly repayments will be for a certain mortgage arrangement.