Estimate your monthly mortgage payment

A capital repayment mortgage pays down both the interest and the loan itself each month, so the balance reaches zero by the end of the term. Your monthly payment depends on three things: how much you borrow (the loan amount, after your deposit), the interest rate, and how long you borrow for (the term).

A larger deposit reduces your loan amount and can unlock a lower interest rate — both of which lower your monthly payment. A longer term spreads the loan over more months, reducing each payment, but you'll pay more interest overall because the debt hangs around longer.

Use the calculator above to model different scenarios — try adjusting the deposit, term, and rate to see how each one moves your monthly payment and the total interest you'll pay over the life of the mortgage.

Your deposit determines your loan-to-value (LTV) — the percentage of the property price you're borrowing. The lower your LTV, the better the rates lenders will offer, because a smaller loan is lower risk for them.

A 15% deposit (85% LTV) typically unlocks competitive rates, while a 25% deposit (75% LTV) opens up the cheapest deals on the market. Some specialist schemes — like 100% mortgages — let you borrow with no deposit, but they carry stricter eligibility and may come with higher rates.

If you're selling a property to buy your next home, the equity from your sale acts as your deposit. We'll help you calculate exactly how much you can put down and which LTV bracket that puts you in.

The most common mortgage term in the UK is 25 years, but terms from 5 to 40 years are available. A shorter term means higher monthly payments but far less total interest — on a £300,000 loan at 4.8%, cutting the term from 30 to 25 years saves over £45,000 in interest.

A longer term keeps monthly payments down, which can help with affordability, but it significantly increases the total cost of borrowing. Many borrowers choose a longer term for flexibility and overpay voluntarily when their budget allows — most lenders permit overpayments of 10% per year without penalty.

Your age also affects the maximum term, as most lenders want the mortgage repaid before retirement, though some extend to age 70 or beyond with evidence of pension income.