£300,000 Mortgage Monthly Payment UK (2026 Calculator)
By Wealthvieu
·
Updated
A £300,000 mortgage typically costs £1,668-£1,842 per month at current rates. Here’s the complete breakdown.
Monthly Payments by Interest Rate (25-Year Term)
| Interest Rate |
Monthly Payment |
Total Interest |
Total Repaid |
| 3.5% |
£1,502 |
£150,479 |
£450,479 |
| 4.0% |
£1,584 |
£175,117 |
£475,117 |
| 4.5% |
£1,668 |
£200,270 |
£500,270 |
| 5.0% |
£1,754 |
£226,145 |
£526,145 |
| 5.5% |
£1,842 |
£252,743 |
£552,743 |
| 6.0% |
£1,933 |
£280,061 |
£580,061 |
Monthly Payments by Term Length (at 5%)
| Term |
Monthly Payment |
Total Interest |
Total Repaid |
| 15 years |
£2,372 |
£127,159 |
£427,159 |
| 20 years |
£1,980 |
£175,017 |
£475,017 |
| 25 years |
£1,754 |
£226,145 |
£526,145 |
| 30 years |
£1,610 |
£279,679 |
£579,679 |
| 35 years |
£1,514 |
£335,073 |
£635,073 |
Income Required for £300K Mortgage
| Lending Multiple |
Required Income |
Joint Income Option |
| 4.0x |
£75,000 |
£37,500 + £37,500 |
| 4.5x |
£66,667 |
£33,333 + £33,333 |
| 5.0x (with good credit) |
£60,000 |
£30,000 + £30,000 |
Total Home Buying Costs
For a £300,000 home with 10% deposit (£270K mortgage):
| Cost |
Amount |
| Deposit (10%) |
£30,000 |
| Stamp duty (first-time buyer) |
£0 |
| Stamp duty (home mover) |
£5,000 |
| Solicitor fees |
£1,800 |
| Survey |
£600 |
| Mortgage arrangement fee |
£999 |
| Moving costs |
£800 |
| FTB total |
£34,199 |
Overpayment Impact
| Monthly Overpayment |
Term Reduction |
Interest Saved |
| £150 |
4 years 1 month |
£40,230 |
| £300 |
6 years 10 months |
£68,450 |
| £500 |
9 years 8 months |
£98,560 |
Affordability Check
On a £70,000 salary (£4,153/month take-home):
| Expense |
Amount |
% of Income |
| Mortgage (5%, 25yr) |
£1,754 |
42% |
| Council Tax |
£210 |
5% |
| Home insurance |
£65 |
2% |
| Utilities |
£220 |
5% |
| Housing total |
£2,249 |
54% |
This leaves £1,904/month for other expenses — comfortable if no other major debts.
