Calculate your monthly repayments, total interest and amortization for UK mortgages in British pounds.
✅ Last verified: June 2026 — Based on HMRC 2026/27 rates and UK mortgage market data
⚡ QUICK ANSWER
On a £350,000 property with 20% deposit (£70,000) at 5% over 25 years, monthly repayment is approximately £1,657/month. Total interest: ~£147,000. First-time buyers pay no Stamp Duty on first £425,000. UK lenders typically allow 4-4.5x gross income. Minimum deposit: 5-10%.
🏠 UK Mortgage Calculator 2026
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📊 UK Mortgage Payment Examples 2026
Based on 5% interest rate, 25-year term, 20% deposit. Source: UK mortgage market 2026.
Property Price
Deposit (20%)
Loan Amount
Monthly Payment
Total Interest
£200,000
£40,000
£160,000
£936/mo
~£120,800
£300,000
£60,000
£240,000
£1,404/mo
~£181,200
£350,000
£70,000
£280,000
£1,638/mo
~£211,400
£500,000
£100,000
£400,000
£2,340/mo
~£302,000
£750,000
£150,000
£600,000
£3,510/mo
~£453,000
💡 UK Stamp Duty (SDLT) 2026/27
Property Price
FTB Rate
Standard Rate
Up to £425,000
0% (FTB exempt)
0% up to £250K
£425,001 – £625,000
5%
5%
Above £625,000
No FTB relief
5%–12%
🏠 Total Cost of Buying in UK — £350,000 Property (FTB)
Cost Item
Amount
Notes
Deposit (10%)
£35,000
Minimum FTB
Stamp Duty (FTB)
£0
Exempt under £425K
Solicitor Fees
£1,000–£2,500
Legal costs
Survey / Valuation
£400–£1,500
Homebuyer survey
Mortgage Arrangement Fee
£0–£2,000
Some lenders charge
TOTAL UPFRONT (FTB)
~£37,000–£41,000
No stamp duty saving
💡 UK Mortgage Tips 2026
Fix for Stability
2 and 5-year fixed rates offer certainty. With rates around 4.5-5.5% in 2026, fixing now protects against future rises.
10% Deposit Minimum
Most UK lenders require at least 10% deposit. A 25%+ deposit unlocks the best rates and saves thousands in interest.
Check Your Credit Score First
A good credit score is essential for the best mortgage rates. Check your score free with Experian, Equifax, or TransUnion before applying.
Use a Mortgage Broker
A whole-of-market broker can access deals not available directly from lenders. Many charge no fee as they earn commission from the lender.
UK Mortgage FAQs 2026
What is the minimum deposit for a UK mortgage in 2026?
Most UK lenders require a minimum 5-10% deposit. A 25% or higher deposit gives you access to the best mortgage rates. On a £350,000 property, a 10% deposit means £35,000 down.
Should I choose a fixed or variable rate mortgage in 2026?
A fixed rate gives you certainty — your monthly payment stays the same for 2, 3, or 5 years. In 2026, most buyers prefer 2 or 5-year fixed rates for budget certainty.
What is the maximum mortgage term in the UK?
Most UK lenders offer mortgage terms up to 35 years. Some lenders now offer 40-year terms. The mortgage must typically be paid off by age 70-75 depending on the lender.
What other costs should I budget for when buying a UK home?
Beyond the deposit, budget for Stamp Duty Land Tax (SDLT), solicitor fees (£1,000-£2,500), survey costs (£400-£1,500), mortgage arrangement fees, and removal costs. First-time buyers pay no SDLT on properties up to £425,000.
What is the monthly payment on a £300,000 mortgage in the UK?
On a £300,000 mortgage (£240,000 loan with 20% deposit) at 5% over 25 years, the monthly repayment is approximately £1,404. Total interest over 25 years is approximately £181,200.
Can I overpay my UK mortgage?
Most UK fixed rate mortgages allow overpayments of up to 10% of the outstanding balance per year without penalty. Overpaying reduces your total interest significantly over the mortgage term.