Finance & Business
UK Mortgage Calculator
Calculate your monthly mortgage payments with UK-specific features including stamp duty, first-time buyer relief and arrangement fees.
Reviewed by the calculator.uk.com Team · Last reviewed 3 October 2026 · Our methodology
Enter your mortgage details to see the results
Stamp Duty Land Tax by purchase price
| Price | Home mover | First-time buyer |
|---|---|---|
| £200,000 | £1,500 | £0 |
| £250,000 | £2,500 | £0 |
| £300,000 | £5,000 | £0 |
| £350,000 | £7,500 | £2,500 |
| £425,000 | £11,250 | £6,250 |
| £500,000 | £15,000 | £10,000 |
| £600,000 | £20,000 | £20,000 (no relief above £500,000) |
The temporary higher thresholds (£250,000 for everyone and £425,000 for first-time buyers) ended on 31 March 2025. A home mover buying at £300,000 now pays £5,000, compared with £2,500 before.
£200,000 over 25 years: effect of the rate
| Rate | Monthly | Total interest |
|---|---|---|
| 3.5% | £1,001 | £100,374 |
| 4.0% | £1,056 | £116,702 |
| 4.5% | £1,112 | £133,499 |
| 5.0% | £1,169 | £150,754 |
| 5.5% | £1,228 | £168,453 |
| 6.0% | £1,289 | £186,581 |
£200,000 at 4.5%: effect of the term
| Term | Monthly | Total interest |
|---|---|---|
| 25 years | £1,112 | £133,499 |
| 30 years | £1,013 | £164,813 |
| 35 years | £947 | £197,536 |
Stretching from 25 to 35 years cuts the payment by £165 a month but adds £64,036 of interest.
Worked example: a first-time buyer in Nottingham
Emma buys a £350,000 house with a 10% deposit (£35,000), borrowing £315,000 over 30 years on a two-year fix at 4.5%.
- Stamp duty with first-time buyer relief: 5% of (£350,000 − £300,000) = £2,500
- Monthly repayment: £1,596.06
- Outstanding balance when the fix ends after two years: about £304,603
If Emma does nothing when the fix ends and moves to a standard variable rate of, say, 6.5%, her payment on the remaining 28 years would jump to about £1,971 — £375 a month more. Most lenders let you lock in a new deal three to six months before the fix ends, so put a reminder in your diary well ahead of time.
Related to UK Mortgage Calculator
The UK Mortgage Calculator helps you estimate your monthly mortgage payments and total costs when buying a property in the United Kingdom. It takes into account UK-specific factors such as stamp duty, first-time buyer relief and arrangement fees. The calculator uses the standard mortgage amortization formula while incorporating current UK mortgage regulations and tax rules.
Monthly Payment Calculation
The monthly payment is calculated using the formula: M = P[r(1 + r)^n]/[(1 + r)^n - 1], where: - P is the loan amount (property price - deposit + arrangement fee) - r is the monthly interest rate (annual rate ÷ 12) - n is the total number of payments (years × 12)
The calculator also includes UK-specific features such as stamp duty calculations based on current rates, and first-time buyer relief. It generates an amortization schedule showing how your payments are split between principal and interest, and how the loan balance decreases over your mortgage term.
When taking out a mortgage in the UK, there are several types of mortgages and associated costs to consider. The main types of mortgages are fixed-rate, variable-rate, and tracker mortgages. Fixed-rate mortgages maintain the same interest rate for a set period, variable-rate mortgages can change at the lender's discretion, and tracker mortgages follow a specific financial indicator (usually the Bank of England base rate).
Key Costs to Consider
1. Deposit: Typically 5-25% of the property price 2. Stamp Duty Land Tax (SDLT): Varies based on property price and buyer status 3. Arrangement Fee: Usually £0-£2,000 4. Valuation Fee: £150-£1,500 depending on property value 5. Legal Fees: £500-£1,500 6. Surveyor's Fee: £250-£600
The calculator helps you understand the impact of these costs on your monthly payments and total expenditure. It's particularly useful for comparing different scenarios, such as varying deposit amounts or mortgage terms, to find the most affordable option for your circumstances.
1. How much deposit do I need for a UK mortgage?
In the UK, you typically need a minimum deposit of 5% of the property's value, though many lenders prefer 10-15%. Many lenders offer 95% mortgages (a 5% deposit) to first-time buyers, while buy-to-let mortgages usually require 25% or more. A larger deposit often secures better interest rates and lower monthly payments.
2. What is Stamp Duty and how is it calculated?
Stamp Duty Land Tax (SDLT) is a tax paid when buying property in England and Northern Ireland. The rate varies based on the property price and whether you're a first-time buyer. Since 1 April 2025, first-time buyers pay no stamp duty on the first £300,000 and 5% on the portion up to £500,000; above £500,000 they pay standard rates. Other buyers pay nothing on the first £125,000, 2% up to £250,000, 5% up to £925,000, 10% up to £1.5 million and 12% above that, plus a 5% surcharge on additional properties.
3. Can I still use Help to Buy?
No. The Help to Buy equity loan scheme in England closed to new applications in October 2022, and purchases had to complete by 31 March 2023. If you already have a Help to Buy equity loan, it is interest-free for five years, then fees start at 1.75% of the loan value and rise every year, and the loan must be repaid when you sell or pay off your mortgage. First-time buyers today can use a Lifetime ISA towards a deposit, which adds a 25% government bonus on up to £4,000 a year.
4. What's the difference between fixed, variable, and tracker mortgages?
Fixed-rate mortgages maintain the same interest rate for a set period (typically 2-5 years), providing predictable monthly payments. Variable-rate mortgages can change at the lender's discretion, often following market trends. Tracker mortgages follow a specific financial indicator (usually the Bank of England base rate) plus a set percentage, automatically changing when the base rate changes.
5. What is the scientific source for this calculator?
Mortgage repayments are calculated using the standard amortisation formula built on time-value-of-money principles, consistent with the way UK lenders price and illustrate mortgage products. Stamp duty calculations reflect current HMRC rates and thresholds for residential property in England and Northern Ireland. Mortgage illustrations in the UK, including how lenders present the Annual Percentage Rate of Charge (APRC), are governed by the Financial Conduct Authority's Mortgages and Home Finance: Conduct of Business sourcebook (MCOB), particularly MCOB 10.