Mortgage Repayment Calculator
Want to understand what your mortgage will cost each month? Enter your details into our Mortgage Repayment Calculator to get an instant estimate of your monthly payments based on your loan amount, term, and interest rate. Simple, quick, and designed to help you plan with confidence.
Potential Property Value
£0
Based on 4.5x your household income plus your deposit, you could potentially purchase a property of this value.
Based on your income, this is the amount lenders may be willing to let you borrow. Actual offers may vary.
Your estimated monthly payment based on the interest rate and mortgage term you entered. Increase your deposit or term to lower this.
LTV is the percentage of the property value you're borrowing. Lower LTVs are considered less risky and may secure better rates.
How it works
Three simple steps to secure your mortgage – backed by expert advice and a smart, supportive process from start to finish.
Tell Us a Little Bit About You
A quick, painless 60-second form captures your current situation.
We Find the Perfect Match
Partnering with over 100 leading lenders, including exclusive specialist options
Your Personal Mortgage Team
You’ll be assigned a dedicated team of experts who handle every step.
Any Questions?
Our FAQs are here to give you clear, straightforward guidance so you can understand your options with confidence. Whether you’re checking what you can afford, exploring repayments, or comparing mortgage deals, you’ll find the essentials covered here.
What affects the amount I pay each month on my mortgage?
Your monthly repayments depend on the loan amount, interest rate, mortgage type, and the length of your term. Even small changes to these factors can significantly impact what you pay. Use our mortgage repayment calculator above.
What’s the difference between repayment and interest-only mortgages?
With a repayment mortgage, you pay off both the interest and the loan amount each month. With interest-only, you only pay the interest – meaning the full loan must still be repaid at the end of the term. Most buyers choose repayment for long-term security.
Can my monthly repayments change over time?
Yes. If you’re on a variable or tracker rate, your payments can increase or decrease as interest rates move. If you’re on a fixed rate, your payments stay the same for the duration of your deal.
Is it possible to reduce my monthly mortgage payments?
Potentially. You may be able to extend your mortgage term, switch to a lower interest rate, or remortgage to a more affordable deal. A GoMortgage adviser can help compare the best options.
What happens if I overpay my mortgage?
Overpaying can reduce both the interest you pay overall and the length of your mortgage term. Many lenders allow a set amount of overpayments each year without penalty – it’s always worth checking your agreement.
What should I do if I'm struggling with my mortgage payments?
Contact your lender as soon as possible — they may offer temporary payment support such as reduced payments or switching to interest-only. You can also speak with GoMortgage for help exploring refinancing or more manageable deals.
