Calculate your monthly mortgage repayment with UK-specific terms and references.
A mortgage calculator estimates your monthly home loan repayment based on the loan amount, interest rate, and mortgage term. The formula used is:
Where P = principal loan amount, r = monthly interest rate (annual rate ÷ 12), n = total number of monthly repayments. For example, a £250,000 repayment mortgage at 5.5% over 25 years results in a monthly repayment of approximately £1,526.
Stamp Duty (SDLT): In England and Northern Ireland, you may need to pay Stamp Duty Land Tax on properties over £250,000. First-time buyers get relief on properties up to £425,000. Scotland has LBTT and Wales has LTT — check with HMRC for current thresholds.