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MortgageMetrics

Mortgage repayment calculator

See your monthly payment, total interest and how your balance falls over time. Add an overpayment to see what you could save.

Free, no sign-up Last reviewed 3 October 2026

Your details

The amount you borrow: the property price minus your deposit.

Bank of England base rate: 3.75%

Repayment type

Many deals allow up to 10% of the balance a year without charges.

Mortgage balance over time

    Show year-by-year table
    YearInterest paidCapital repaidBalance

    How mortgage repayments are calculated

    A repayment mortgage uses a fixed monthly payment worked out so that the loan is fully repaid by the end of the term. In the early years most of each payment is interest. As the balance falls, more of each payment goes towards the capital.

    Overpaying reduces the balance sooner, so you pay less interest overall and finish earlier. This calculator assumes your contractual payment stays the same and the overpayment comes on top.

    Assumptions

    • One interest rate for the whole term. In reality, most borrowers fix for 2 to 5 years and then remortgage.
    • Interest is calculated monthly. Lender fees are not added to the loan.
    • Overpayments are made every month from the start.

    Get advice from an FCA-authorised mortgage broker

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    Frequently asked questions

    What is the difference between repayment and interest-only?

    With a repayment mortgage each payment covers the interest plus part of the loan, so you owe nothing at the end of the term. With interest-only you pay just the interest, so the full loan is still owed at the end and you need a credible plan to repay it.

    Can I overpay my mortgage?

    Most fixed and tracker deals let you overpay up to 10% of the balance each year without an early repayment charge. Check your mortgage offer for the exact limit before overpaying.

    Why does my lender quote a different figure?

    Lenders calculate interest daily or monthly, may add fees to the loan and usually move you to their standard variable rate when your initial deal ends. This calculator assumes one rate for the whole term.

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