What's Left, step 2 of 7: What does my home cost each month?
Mortgage calculator
Work out your monthly mortgage payment and the total interest over the term.
Your monthly payment is
£1,332.43
on a £225,000 repayment mortgage over 25 years.
What the mortgage costs
| Item | Total |
|---|---|
| Amount borrowed | £225,000.00 |
| Interest over 25 years | £174,727.66 |
| Total you repay | £399,727.66 |
Your deposit is 10% of the price, a loan-to-value of 90%.
This is an estimate, not financial advice. Speak to a mortgage adviser before you apply.
Year by year
| Year | Interest paid | Capital repaid | Balance left |
|---|---|---|---|
| Year 1 | £11,436.44 | £4,552.66 | £220,447.34 |
| Year 2 | £11,197.32 | £4,791.78 | £215,655.56 |
| Year 3 | £10,945.64 | £5,043.46 | £210,612.09 |
| Year 4 | £10,680.74 | £5,308.37 | £205,303.72 |
| Year 5 | £10,401.93 | £5,587.18 | £199,716.54 |
| Year 6 | £10,108.47 | £5,880.64 | £193,835.91 |
| Year 7 | £9,799.60 | £6,189.51 | £187,646.40 |
| Year 8 | £9,474.50 | £6,514.61 | £181,131.79 |
| Year 9 | £9,132.33 | £6,856.78 | £174,275.02 |
| Year 10 | £8,772.19 | £7,216.92 | £167,058.10 |
| Year 11 | £8,393.13 | £7,595.98 | £159,462.12 |
| Year 12 | £7,994.16 | £7,994.94 | £151,467.18 |
| Year 13 | £7,574.24 | £8,414.87 | £143,052.31 |
| Year 14 | £7,132.26 | £8,856.84 | £134,195.47 |
| Year 15 | £6,667.07 | £9,322.04 | £124,873.43 |
| Year 16 | £6,177.44 | £9,811.66 | £115,061.77 |
| Year 17 | £5,662.10 | £10,327.01 | £104,734.76 |
| Year 18 | £5,119.69 | £10,869.42 | £93,865.34 |
| Year 19 | £4,548.79 | £11,440.32 | £82,425.02 |
| Year 20 | £3,947.90 | £12,041.20 | £70,383.82 |
| Year 21 | £3,315.45 | £12,673.65 | £57,710.17 |
| Year 22 | £2,649.79 | £13,339.32 | £44,370.85 |
| Year 23 | £1,949.16 | £14,039.94 | £30,330.91 |
| Year 24 | £1,211.73 | £14,777.37 | £15,553.53 |
| Year 25 | £435.57 | £15,553.53 | £0.00 |
You pay £1,332.43 every month. In the early years most of it is interest; by the end almost all of it pays off the loan.
How mortgage payments are worked out
A repayment mortgage has the same payment every month, worked out with the standard formula: payment = P × r ÷ (1 − (1 + r)−n), where P is the amount you borrow, r the monthly rate (the yearly rate ÷ 12) and n the number of months.
In the example, you borrow £225,000 (£250,000 less a £25,000 deposit) at 5.13% over 25 years: P = £225,000, r = 5.13% ÷ 12 = 0.4275%, n = 300. That gives £1,332.43 a month, and £174,727.66 of interest over the term.
Each payment covers the month's interest plus some of the loan. In the first month interest is £961.88 and £370.55 goes off the balance; that share grows every month, so the balance falls faster in later years.
This assumes the same rate for the whole term. Most deals are fixed for 2 to 5 years, then move to the lender's standard rate unless you remortgage.
Common questions
How much is a £200,000 mortgage a month?
At 4.5% over 25 years a £200,000 repayment mortgage costs £1,111.66 a month. Over 30 years it is £1,013.37 a month, but you pay £31,313.94 more interest in total.
How much interest will I pay on my mortgage?
On £200,000 at 4.5% over 25 years you pay £133,499.49 in interest, so £333,499.49 in all. Overpaying, a shorter term or a lower rate all cut it.
What is the difference between repayment and interest-only?
With repayment you pay off the loan bit by bit and owe nothing at the end. With interest-only you pay just the interest, £750.00 a month on £200,000 at 4.5%, and still owe the full £200,000 at the end.
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These results are an estimate, not financial advice. They use the 2026/27 rates in force on 24 October 2026 and the inputs shown, so your actual tax, pay or costs may differ. Before making a decision about your money, check the figures with HMRC or your provider, or speak to a regulated financial adviser. Free, impartial guidance is available from MoneyHelper.
This page explains the rules using the 2026/27 rates in force on 24 October 2026. It is general information, not financial advice. For decisions about your own money, speak to a regulated financial adviser, or get free, impartial guidance from MoneyHelper.