Mortgage Calculator

Try out the mortgage affordability calculator. This will help you work out if you can afford the mortgage amount that your looking to borrow.


This is for illustrative purposes only and does not represent the amount you may have to pay for a mortgage. Your home may be repossessed if you do not keep repayments on your mortgage.


Click on the sections below for more information.

Loan Amount

Enter the amount that you want to borrow.

Interest Rates

As mortgages are long-term loans, lenders charge interest to cover the risks of lending the money, and to make money for themselves. Interest rates are usually based upon the Bank of England Base Rate + 2 -3 %. Non-standard or complex loans usually have higher interest rates.

A common feature of UK mortgages is that most loans are issued on ‘variable rates’. This means that the interest rate you pay rise and falls in line with the underlying base rate, and most ‘fixed rates’ are only fixed for a short-period (usually 1 – 2 years; long-term fixed rates, such as those offered in Europe and the United States are relatively uncommon in the UK). Therefore, you should be aware from the outset that what you have budgeted for and can pay now may be a very different figure in the future (as people in the early 1990’s found to their cost).

Loan Term

Most mortgages in the UK are issued for a term of 25 years – however you can take a loan for any period of time – the general rule is that the shorter the duration, the higher the monthly repayments. (In unusual circumstances, it may be possible to structure a loan for more than 25 years).