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Work out exactly what your monthly capital and interest mortgage repayments would be — and see how much of that is interest versus capital over the full term.
Adjust the loan amount, interest rate and term using the sliders below. Results update instantly. For a personalised rate based on your actual circumstances, speak to Jagpal Singh.
Three variables determine your capital and interest repayment — and understanding each one helps you make smarter decisions about your mortgage.
The more you borrow, the higher your monthly repayment. Even a small reduction in your loan amount — through a larger deposit or a lower purchase price — can make a meaningful difference to your monthly outgoings and the total interest paid.
Your interest rate has the single biggest impact on your monthly payment. A difference of just 0.5% on a £300,000 mortgage over 25 years can equate to thousands of pounds over the mortgage term — which is why whole-of-market advice matters so much.
A longer term reduces your monthly payment but significantly increases the total interest you pay. A 35-year term vs a 25-year term on the same loan can cost tens of thousands more in interest — even if the monthly saving seems attractive.
A calculator gives you a starting point. A qualified independent adviser gives you the full picture — the right lender, the right rate, and the right mortgage for your situation.