Mortgage Calculator
Calculate mortgage repayments, loan-to-value, total interest, mortgage fees, overall borrowing cost and view a complete amortisation schedule.
Property Details
Enter the details of the property you intend to purchase.
Loan-to-Value (LTV)
Mortgage Details
Configure the mortgage offered by your lender.
Mortgage Fees
Include any lender and legal costs associated with the mortgage.
Mortgage Summary
A complete overview of your mortgage before repayments begin.
Property Price
Deposit
Deposit (%)
Mortgage Amount
Loan-to-Value (LTV)
Total Fees
Mortgage Type
Payment Frequency
Interest Rate
Mortgage Term
Repayment Summary
Key repayment figures for your mortgage.
Payment
Amount Financed
Interest Paid
Overall Cost
Amortisation Schedule
Detailed repayment schedule for every mortgage payment.
| # | Payment | Principal | Interest | Balance | Cumulative Interest |
|---|---|---|---|---|---|
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How to Calculate a Mortgage
Enter your property value, deposit, mortgage details and any applicable fees to estimate repayments, total interest, loan-to-value (LTV), borrowing costs and view a complete amortisation schedule.
Overview
The Mortgage Calculator helps home buyers estimate the full cost of purchasing a property before applying for a mortgage. Whether you are buying your first home, moving house, remortgaging or purchasing an investment property, this calculator estimates monthly repayments, total interest, loan-to-value (LTV), mortgage fees and overall borrowing costs. It supports both repayment and interest-only mortgages, making it a useful planning tool for comparing mortgage products and understanding long-term financial commitments.
Benefits
How It Works
Enter the property purchase price.
Enter either a deposit amount or deposit percentage.
The calculator determines the mortgage amount required.
Loan-to-Value (LTV) is calculated automatically.
Enter the mortgage interest rate.
Choose the mortgage term and repayment frequency.
Select repayment or interest-only mortgage.
Include mortgage fees if applicable.
The calculator estimates repayments and generates a complete amortisation schedule.
How to Use This Tool
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1Choose your preferred currency.
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2Enter the property purchase price.
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3Enter your deposit amount or percentage.
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4Select the mortgage type.
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5Enter the annual interest rate.
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6Enter the mortgage term.
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7Choose years or months.
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8Select the repayment frequency.
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9Enter any applicable mortgage fees.
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10Review the repayment summary and amortisation schedule.
Helpful Tips
- A larger deposit generally reduces monthly repayments.
- Lower LTV mortgages often qualify for better interest rates.
- Compare mortgages using total borrowing cost instead of monthly repayments alone.
- Adding fees to the mortgage increases the amount of interest paid.
- Review the amortisation schedule to understand how your balance reduces over time.
- Consider future interest rate changes when budgeting.
- Always budget for insurance, maintenance and household bills.
- Obtain a mortgage Agreement in Principle before making an offer on a property.
Common Uses
First-time buyer mortgage.
Home mover mortgage.
Remortgaging.
Buy-to-let mortgage.
Investment property.
Interest-only mortgage.
Comparing lenders.
Budget planning before buying a home.
Worked Examples
The following examples demonstrate how this tool can be used in realistic scenarios.
First-time buyer
Estimate repayments on a £300,000 property with a 10% deposit using a 25-year repayment mortgage.
Interest-only mortgage
Compare the monthly repayments between repayment and interest-only mortgage options.
Including mortgage fees
Add arrangement and legal fees to compare the effect of paying them upfront versus adding them to the mortgage.
Lower Loan-to-Value
Compare repayments using deposits of 10%, 20% and 30% to see how LTV affects borrowing costs.
Common Mistakes
Avoid these common mistakes to achieve the most accurate results.
- Ignoring additional buying costs such as legal fees and stamp duty.
- Choosing a mortgage based only on monthly repayments.
- Forgetting that interest rates may change.
- Borrowing more than comfortably affordable.
- Ignoring property maintenance costs.
- Using unrealistic property values.
- Not comparing multiple lenders.
- Assuming mortgage approval is guaranteed.
Glossary
Definitions of the most important terms used by this tool.
Mortgage
A loan used to purchase property, secured against the property itself.
Deposit
The amount paid upfront towards the property purchase.
Loan-to-Value (LTV)
The percentage of the property value financed by the mortgage.
Repayment Mortgage
A mortgage where both principal and interest are repaid throughout the loan term.
Interest-only Mortgage
A mortgage where only interest is paid during the mortgage term and the principal is repaid separately.
Amortisation Schedule
A repayment schedule showing how each payment is divided between principal and interest.
Arrangement Fee
A fee charged by the lender for setting up the mortgage.
Stamp Duty
A property purchase tax charged in some countries.
Frequently Asked Questions
What is a repayment mortgage?
A repayment mortgage gradually repays both the loan balance and interest so the mortgage is fully repaid at the end of the term.
What is an interest-only mortgage?
Interest-only mortgages require you to pay only the interest during the mortgage term, with the loan balance repaid separately.
What is Loan-to-Value (LTV)?
LTV measures how much of the value of the property is being financed by the mortgage. Lower LTV ratios often qualify for better mortgage products.
Can I include mortgage fees?
Yes. Common mortgage fees can be included and optionally added to the mortgage balance.
Can I compare different deposits?
Yes. Changing the deposit allows you to compare repayments and borrowing costs quickly.
Does this calculator work for buy-to-let mortgages?
Yes. It can be used to estimate repayments for many property purchase scenarios.
Are these repayment figures guaranteed?
No. Actual mortgage offers depend on lender criteria, interest rates and affordability assessments.
Does this include mortgage insurance or property taxes?
No. Only the mortgage figures entered into the calculator are included.
Things to Know
- Results are estimates only.
- Mortgage providers may calculate repayments differently.
- Interest rates and lending criteria vary between lenders.
- Insurance, maintenance and utility costs are not included.
- Always confirm mortgage quotations before making financial commitments.
Disclaimer
This calculator is provided for educational and budgeting purposes only.
It should not be considered financial or mortgage advice.
SwiftVecto accepts no responsibility for borrowing decisions based solely on these estimated calculations.
Official References
The following official resources were used when developing this tool and are useful for further reading.