Mortgage Repayment Calculator
Calculate monthly mortgage payments, total interest, and see the impact of overpayments.
Year-by-Year Breakdown
| Year | Paid | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | £15,007.48 | £10,023.03 | £4,984.45 | £220,015.55 |
| 2 | £15,007.48 | £9,794.04 | £5,213.43 | £214,802.12 |
| 3 | £15,007.48 | £9,554.54 | £5,452.94 | £209,349.18 |
| 4 | £15,007.48 | £9,304.03 | £5,703.44 | £203,645.74 |
| 5 | £15,007.48 | £9,042.02 | £5,965.46 | £197,680.28 |
| 6 | £15,007.48 | £8,767.97 | £6,239.51 | £191,440.77 |
| 7 | £15,007.48 | £8,481.32 | £6,526.15 | £184,914.62 |
| 8 | £15,007.48 | £8,181.51 | £6,825.96 | £178,088.66 |
| 9 | £15,007.48 | £7,867.93 | £7,139.55 | £170,949.11 |
| 10 | £15,007.48 | £7,539.94 | £7,467.54 | £163,481.57 |
Showing first 10 of 25 years
Balance Over Time
How UK Mortgage Repayments Work
With a capital repayment mortgage, each monthly payment covers both interest and a portion of the loan principal. Early payments are mostly interest, but over time more goes toward reducing the balance. By the end of the term, the mortgage is fully paid off.
Interest-Only vs Capital Repayment
An interest-only mortgage means you only pay the interest each month — the loan balance stays the same throughout the term. You need a repayment strategy (savings, investments, or property sale) to clear the capital at the end. Capital repayment mortgages cost more monthly but guarantee the debt is cleared.
The Power of Overpayments
Even small monthly overpayments can save thousands in interest and shorten your mortgage term significantly. Most UK lenders allow overpayments of up to 10% of the outstanding balance per year without early repayment charges. Use this calculator to see exactly how much time and money you could save.