A mortgage is a massive financial commitment, so you need to know how much it's going to cost – and we're here to help. Our mortgage calculator lets you work out what your payments will be, whether you're a first-time buyer, moving home, re-mortgaging or buying-to-let.
Select the type of mortgage
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* If you've seen a mortgage deal you're interested in, enter that rate. You can find typical mortgage rates here.
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Monthly repayment amount
Stamp duty cost
Total cost over the mortgage term
Please note: these calculations are intended as a guide only.
MoneySuperMarket cannot guarantee you will be accepted for a mortgage.
Mortgage calculator guide
Will you get a mortgage big enough to purchase your dream abode? If you do are you worried about the repayments?
Even if you are a first-time buyer or a more seasoned investor, the MoneySuperMarket Mortgage Calculator can help you find out the figures you’ll need to get there.
It’s so easy to use that within seconds you’ll know how much the repayments will based on how much you’ll need to borrow, the interest rate and the term of the mortgage. The tool, also known as a remortgage calculator or APR calculator, works different types of home loans – from first-time buyer mortgages to buy-to-let mortgages.
Be aware that these results only offer an indication of how much you’ll need, as each lender has a different way of assessing how much you can borrow and the repayments.
Calculating your mortgage repayments
Taking out a mortgage is the easiest way to get on – or move up – the property ladder. However, it is only a good idea if you can keep up with the payments. That’s where our mortgage calculator comes in. It can tell you the following:
- How much a particular mortgage will cost you in both repayment and interest-only basis – so you can try out different scenarios and compare deals on how much they would cost per month.
- The loan to value percentage you would need to borrow. For example, if you borrowed 75%, then you might not get as good a deal as if you had borrowed 60% of a property’s value.
- An indication of stamp duty you can expect to pay on the purchase.
How to use the calculator
To use the mortgage payment calculator:
1. Enter the price of the property you wish to buy
2. The size of the mortgage you’d need to buy it
3. The number of years you want to take the loan out over
4. The interest rate charged by the lender offering the deal
If your ability to afford the mortgage is a concern, and you are taking out a variable-rate deal, it makes a lot of sense to check how much your repayments could be should the interest rate rise by even 1% or 2%.
How much can I borrow?
You’ll need a vague idea of how much you can borrow before thinking about a new home or investment property. Our calculator does not ask about salary, but banks will, so you will need to be able to afford the mortgage.
All you need to enter are the details below – the price paid for the property, the amount of money you need to borrow, the time you want to borrow it over, the interest rate and your income – and we’ll calculate your monthly repayment for you, plus the total you’ll repay (provided the interest rate doesn’t change).
- The calculator only provides an idea of your monthly repayments – for an accurate number, speak to your lender.
- If the rate you’ve entered is a promotional rate for a fixed period, then bear in mind your payment will increase once this period ends and your interest rate increases – check what this rate will be, and that you’re comfortable you could afford these higher monthly payments.
- If the rate you’ve entered is variable, then be aware that lenders can decide to increase it. To see whether you could afford this, try increasing the rate you entered above by up to 3% to see what the payment would be.
- You should also check whether you’ll pay any fees when you take out the mortgage.
- Please note that most mortgage lenders will look at your income and outgoings very closely, which may affect your ability to secure a mortgage loan.
- Remember your mortgage is secured on your home. Your home may be repossessed if you don’t keep up repayments on your mortgage.