How to use a monthly mortgage repayment calculator
- To accurately calculate your monthly repayment and interest amounts, you need to enter the following information into the right fields:
- Purchase price: The total cost of the property in GBP.
- Deposit amount: Your upfront payment in GBP.
- Interest rate: Annual rate as a percentage. This calculator assumes a fixed interest rate.
- Mortgage term: The number of years you’ll repay the mortgage over.
- You will find two results: your monthly mortgage repayment (capital + interest) and the interest-only monthly cost.
Why calculating repayments in advance matters
Taking out a mortgage is a serious, long-term financial commitment. Knowing your monthly repayments before making an offer allows you to move forward and budget with confidence.
For residential buyers, it means a better idea of whether or not a home is within budget once household costs, existing debts, and other expenses are considered.
For investors, it provides a clearer picture of whether or not the expected rental income will cover the mortgage and generate enough of a return to justify the purchase.
We encourage you to try different deposit amounts, interest rates, and mortgage terms to find a solution that fits your budget and long-term plans. Even small changes may have a significant effect on your monthly commitment, and finding the right set of terms puts you in a stronger position when speaking to a broker.
Reach out to Assure Move for expert advice about buying a home.
Reach out to our team to discover why more and more London buyers choose Assure Move for professional, tailored home‑buying support.
