Mortgage Calculator UK
Calculate your UK monthly mortgage repayment — repayment or interest-only, fixed, tracker, or variable rate. Includes Stamp Duty (SDLT), arrangement fee, deal period cost, and a full amortisation schedule.
How UK Mortgages Work
Repayment vs Interest-Only
| Type | Monthly Cost | End of Term | Best For |
|---|---|---|---|
| Repayment | Higher (capital + interest) | Mortgage fully paid off | Most homeowners |
| Interest Only | Lower (interest only) | Full capital still owed | Buy-to-let investors |
Stamp Duty Land Tax (SDLT) — England & Northern Ireland 2024
| Property Value | SDLT Rate |
|---|---|
| Up to £250,000 | 0% |
| £250,001 – £925,000 | 5% |
| £925,001 – £1,500,000 | 10% |
| Above £1,500,000 | 12% |
Scotland uses LBTT; Wales uses LTT — different thresholds apply. First-time buyer relief available up to £625,000 (zero rate up to £425,000).
2025 UK Mortgage Rate Guide
| Lender | 2-yr Fixed (60% LTV) | 5-yr Fixed (60% LTV) | SVR |
|---|---|---|---|
| Halifax | ~4.50% | ~4.20% | ~7.99% |
| Nationwide | ~4.44% | ~4.14% | ~7.99% |
| Barclays | ~4.48% | ~4.18% | ~8.24% |
| HSBC UK | ~4.39% | ~4.09% | ~6.99% |
| NatWest | ~4.55% | ~4.25% | ~7.74% |
| Santander UK | ~4.52% | ~4.22% | ~7.50% |
| Lloyds Bank | ~4.47% | ~4.17% | ~7.99% |
| Virgin Money | ~4.56% | ~4.26% | ~8.49% |
LTV Tiers and Rate Impact
| LTV | Deposit | Typical Rate Tier | Notes |
|---|---|---|---|
| 60% | 40% | Best rates available | Top tier products |
| 75% | 25% | Very competitive | Wide lender choice |
| 85% | 15% | Moderate rates | Good range of products |
| 90% | 10% | Higher rates | Some lender restrictions |
| 95% | 5% | Highest rates | Government scheme or specialist lenders |
Affordability — FCA Stress Test
Under FCA Mortgage Conduct of Business (MCOB) rules, lenders must assess affordability using a stressed interest rate (typically the reversion/SVR rate or contract rate + 3%). Income multiples are typically 4–4.5× gross salary, though some lenders allow up to 5.5× for high earners.
Frequently Asked Questions
Repayment vs interest-only mortgage — which should I choose?
Repayment mortgages pay off capital and interest monthly — you own the property outright at term end. Interest-only has lower payments but the full capital is still owed at the end and must be repaid separately. Most residential buyers should choose repayment.
How much stamp duty do I pay?
SDLT in England (2024): 0% up to £250,000; 5% on £250,001–£925,000; 10% on £925,001–£1,500,000; 12% above. First-time buyers: 0% up to £425,000, 5% up to £625,000. Scotland uses LBTT; Wales uses LTT.
What LTV gives the best rates?
60% LTV (40% deposit) gets the best rates. Rates step up at 75%, 85%, 90%, and 95% LTV. Even a small deposit increase to hit the next tier can save thousands over the mortgage term.
2-year or 5-year fixed rate?
2-year fixes give flexibility to remortgage sooner if rates fall. 5-year fixes provide payment certainty and fewer remortgaging costs. In a falling rate environment, shorter fixes are better; in rising or uncertain markets, longer fixes provide security.
How much can I borrow?
Most UK lenders offer 4–4.5× gross annual income. Some specialist lenders offer up to 5.5× for high earners or professionals. Affordability is stress-tested at SVR or contract rate + 3% under FCA MCOB rules.
References
- Bank of England — Monetary Policy Committee, Official Bank Rate decisions.
- HM Revenue & Customs — Stamp Duty Land Tax rates and thresholds.
- Financial Conduct Authority (FCA) — Mortgage Conduct of Business (MCOB) sourcebook.
- Money and Pensions Service (MaPS) — MoneyHelper mortgage guidance.
- UK Finance — Mortgage Lenders and Administrators Statistics.
