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Your home may be repossessed if you do not keep up repayments on your mortgage. Sorry – mortgages don’t qualify for Meerkat Rewards.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Use our remortgage calculator to find out how much your repayments could go up if you don't remortgage at the end of your deal.
If you’re over the age of 55 and a UK homeowner, use our equity release calculator to see how much equity you could release from your property.
Go to equity release calculator
Our calculator shows you how much stamp duty you’ll pay when buying a property in the UK. Just enter the price and buyer type to see how much you might have to pay.
A UK mortgage calculator is a useful online tool to help you work out how much you might be able to borrow and what it could cost you each month.
Mortgage calculators can give you an idea of your options, whether you’re:
When you take out a mortgage, the lender will charge interest on what you borrow. The interest will be a percentage of the amount you borrow and is usually added to your account on the first day of the month.
If you take out a fixed-rate mortgage, the interest and your monthly repayments will stay the same for the duration of your fixed period – which means no nasty surprises or having to worry about your rate going up.
If you take out a variable-rate mortgage, the interest and your monthly repayments can go up or down at any time.
Our quick mortgage borrowing calculator can give you a good indication of the amount you could borrow based on your income. It makes its calculation based on 4-5 times your household income, as this is the typical range available from lenders – but the amount you can actually borrow will depend on your personal situation and the individual lender’s criteria.
As part of an affordability assessment, lenders will check your credit report to see how you’ve managed debt in the past. It’s a good idea to check your credit report and get it into shape at least six months before you apply for a mortgage.
The size of your deposit makes a difference too. The bigger your deposit, the more equity you’ll have in the property and the more likely you are to get a better rate of interest.
If you can get an agreement in principle (AIP) from your chosen lender, you’ll have more certainty over how much you’ll be able to borrow. While it’s not a guaranteed mortgage offer, it’s a helpful way of showing sellers you can afford to buy and are serious about doing so – particularly if you’re a first-time buyer.
Our mortgage repayment calculator helps you estimate how much your monthly repayments could be, based on the amount you borrow, the mortgage term and the interest rate. It gives you a useful starting point for understanding how different interest rates or loan lengths could affect your budget.
Your actual repayments will depend on:
the type of mortgage you choose
whether the rate is fixed or variable
your lender’s individual terms.
That’s why it can be helpful to try different figures to see how changes to the interest rate or term could impact how much you pay each month.
Understanding what your monthly repayments are likely to be can help you decide how much you’re comfortable spending on a property and whether a mortgage fits alongside your other expenses. Lenders will look closely at this as part of their affordability checks, alongside your income, credit history and existing financial commitments.
When getting a mortgage, you’ll need to look at how the monthly payments will affect your overall budget and what you can afford to pay comfortably.
Our mortgage repayment calculator can help by showing you what your monthly payments would be based on different interest rates, the property value and the size of your deposit.
You can adjust the interest rate and also change the deposit amount in our mortgage repayment calculator. That way, you can see the difference that saving for a larger deposit – or your interest rate suddenly jumping, if you're on a variable deal – could make.
When working out how much you could afford to borrow, don’t forget mortgage fees and – if it applies to you – stamp duty, as well as the impact of potential life changes. If you had a baby or changed jobs, for example, would you still be able to afford your mortgage repayments?
It’s better to borrow an amount you can confidently pay back than overstretch and find yourself struggling further down the line.
In an ideal world, as much as possible – but you’ll usually need at least 5% of the property price. A larger deposit means you’ll need to borrow less, so you’re likely to pay a smaller amount of interest overall.
Mortgage lenders will look at your loan-to-value ratio (LTV) – the amount you’re borrowing compared to the overall cost of the property – when considering your application. Typically, the lower your LTV, the lower the rate of interest you’ll be charged.
Some lenders offer different interest rates for 100% mortgages, 95% mortgages, 90%, 85%, 80% and so on. It’s worth seeing if increasing your deposit by a few thousand pounds could help you move down to a lower band and get a cheaper interest rate.
You can play with the interest rate in our mortgage repayment calculator to see how much a seemingly small decrease in rate could save you in the long run.
Find out more: how to save for a mortgage deposit
Charlie is a senior commercial leader with close to a decade of experience across the UK’s leading personal-finance and comparison platforms. Before joining Compare the Market as Head of Commercial in 2024, he held senior commercial roles at TotallyMoney and MoneySuperMarket Group.
1 Based on Trustpilot ratings (July 2026).
What our expert says...
“Whether you’re buying a home or remortgaging, our mortgage calculators can give you an indication of what you may be able to borrow and how much it could cost.
“Several factors go into a lender’s decision on how much you can borrow when you actually apply, so be aware that it could look different in the real world. Nevertheless, using mortgage calculators will at least put you in the right ballpark.”