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Mortgage Calculator

Mortgage Calculator

£
%
years
Daily Monthly Annually
£ /month
Pays loan capital and interest. Guaranteed to pay off the mortgage subject to keeping up with payments.
£ /month
Pays interest only. A separate repayment vehicle is required to pay the loan capital at the end of the term.

About this Mortgage Calculator

This Mortgage calculator is designed to calculate the monthly mortgage payments for either a capital repayment mortgage or an interest only mortgage.

  1. Mortgage Loan Amount:  Input the loan amount (no commas required)
  2. Annual Rate of Interest: Input the rate of interest payable on the mortgage (No % icon required).
  3. Loan Term: Input the loan term.
  4. Interest Added: Click on annual if the interest is calculated annually (quite rare today), monthly if the interest is calculated monthly or click on daily if the interest is calculated daily (most common).
  5. Click generate.

Capital repayment mortgage:

Each monthly payment consists of part capital and interest based on the outstanding capital. The interest is re-calculated depending on whether it is annual, monthly or daily interest to reflect the reducing debt. This type of mortgage is guaranteed to repay the mortgage by the end of the selected term.

Interest only mortgage:

Each monthly payment consists of only interest based on the original capital borrowed. This type of mortgage is not guaranteed to repay the mortgage by the end of the selected term as the same amount of capital is still owed and is a higher risk strategy. Repayment of the capital is subject to the performance of a separate investment vehicle that the borrower must pay into.

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