HouseCheckup's mortgage calculator helps you estimate monthly repayments for any UK property purchase. With the average UK mortgage now £223,000 according to UK Finance, understanding your true monthly cost is essential before making an offer. Enter a property price, deposit, interest rate, and term to see capital-and-interest breakdowns for both repayment and interest-only mortgages. The £14.99 Complete report includes a full True Monthly Cost analysis covering mortgage, insurance, maintenance, and running costs.
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This free tool checks one data point. The HouseCheckup Complete report combines 70+ data sources into an 18-page report with a composite IQ Score (0–100) — covering flood, EPC, crime, schools, transport, ground stability, investment potential, and more.
Monthly repayments on a repayment mortgage are calculated using an amortisation formula that factors in the loan amount, annual interest rate, and term length. Each payment covers interest on the outstanding balance plus a portion of capital. Early payments are mostly interest; later payments are mostly capital. HouseCheckup shows this split month by month.
A repayment mortgage pays off both capital and interest each month, so the loan is fully repaid by the end of the term. An interest-only mortgage only covers the interest — the original loan balance remains. Interest-only is cheaper monthly but requires a repayment strategy. HouseCheckup calculates both types side by side.
Most UK lenders require a minimum 5–10% deposit, though 15–20% secures better interest rates. A larger deposit means lower monthly repayments and less interest paid overall. HouseCheckup's calculator lets you adjust the deposit percentage to see how it affects your monthly cost and total interest paid.
Yes. HouseCheckup's mortgage calculator shows the total amount repaid over the full term, the total interest paid, and the monthly breakdown. This helps you compare different term lengths and interest rates to find the most cost-effective option for your budget.