Your monthly mortgage payment depends on three things: how much you borrow, the interest rate, and the term length. Here’s a comprehensive set of tables to help you estimate your payments.
Table of Contents
Monthly Payment by Loan Amount and Rate (25-Year Term)
| Loan Amount | 3.5% | 4.0% | 4.5% | 5.0% | 5.5% | 6.0% |
|---|---|---|---|---|---|---|
| £100,000 | £500 | £527 | £556 | £585 | £614 | £644 |
| £150,000 | £751 | £791 | £834 | £877 | £920 | £966 |
| £200,000 | £1,001 | £1,055 | £1,112 | £1,170 | £1,228 | £1,289 |
| £250,000 | £1,251 | £1,319 | £1,390 | £1,462 | £1,535 | £1,611 |
| £300,000 | £1,501 | £1,583 | £1,668 | £1,754 | £1,842 | £1,933 |
| £350,000 | £1,752 | £1,847 | £1,946 | £2,047 | £2,149 | £2,255 |
| £400,000 | £2,002 | £2,111 | £2,224 | £2,339 | £2,456 | £2,577 |
| £450,000 | £2,252 | £2,374 | £2,502 | £2,631 | £2,763 | £2,899 |
| £500,000 | £2,502 | £2,638 | £2,780 | £2,924 | £3,070 | £3,221 |
Monthly Payment by Loan Amount and Rate (30-Year Term)
| Loan Amount | 3.5% | 4.0% | 4.5% | 5.0% | 5.5% | 6.0% |
|---|---|---|---|---|---|---|
| £100,000 | £449 | £477 | £507 | £537 | £568 | £600 |
| £150,000 | £674 | £716 | £760 | £806 | £852 | £899 |
| £200,000 | £898 | £954 | £1,013 | £1,074 | £1,136 | £1,199 |
| £250,000 | £1,123 | £1,193 | £1,267 | £1,342 | £1,419 | £1,499 |
| £300,000 | £1,347 | £1,432 | £1,520 | £1,610 | £1,703 | £1,799 |
| £350,000 | £1,572 | £1,670 | £1,773 | £1,879 | £1,987 | £2,098 |
| £400,000 | £1,796 | £1,909 | £2,027 | £2,147 | £2,271 | £2,398 |
| £450,000 | £2,021 | £2,148 | £2,280 | £2,416 | £2,555 | £2,698 |
| £500,000 | £2,245 | £2,387 | £2,533 | £2,684 | £2,839 | £2,998 |
Monthly Payment by Term Length
For a £250,000 mortgage at different rates and terms:
| Term | 4.0% | 4.5% | 5.0% | 5.5% |
|---|---|---|---|---|
| 15 years | £1,849 | £1,912 | £1,977 | £2,043 |
| 20 years | £1,515 | £1,582 | £1,650 | £1,720 |
| 25 years | £1,319 | £1,390 | £1,462 | £1,535 |
| 30 years | £1,193 | £1,267 | £1,342 | £1,419 |
| 35 years | £1,107 | £1,183 | £1,262 | £1,342 |
Shorter terms mean higher monthly payments but dramatically less total interest.
Total Interest Paid Over Full Term
For a £250,000 mortgage at 4.5%:
| Term | Monthly Payment | Total Payments | Total Interest | Interest as % of Loan |
|---|---|---|---|---|
| 15 years | £1,912 | £344,160 | £94,160 | 38% |
| 20 years | £1,582 | £379,680 | £129,680 | 52% |
| 25 years | £1,390 | £417,000 | £167,000 | 67% |
| 30 years | £1,267 | £456,120 | £206,120 | 82% |
| 35 years | £1,183 | £497,460 | £247,460 | 99% |
On a 35-year term you’d pay nearly as much in interest as the original loan amount.
Impact of Deposit Size
For a £300,000 property at 4.5%:
| Deposit | Deposit % | Loan Amount | Monthly Payment (25yr) | Mortgage Insurance |
|---|---|---|---|---|
| £15,000 | 5% | £285,000 | £1,586 | Likely higher rate (higher LTV) |
| £30,000 | 10% | £270,000 | £1,502 | Standard rate |
| £45,000 | 15% | £255,000 | £1,419 | Better rate available |
| £60,000 | 20% | £240,000 | £1,335 | Best standard rates |
| £75,000 | 25% | £225,000 | £1,251 | Best rates available |
| £120,000 | 40% | £180,000 | £1,001 | Lowest rates |
A larger deposit gives you access to lower interest rates and a smaller loan — double savings.
Fixed vs Variable Rates
| Rate Type | Typical Rate (2026) | Best For | Risk |
|---|---|---|---|
| 2-year fixed | 4.0% – 4.8% | Short-term certainty | Rate may rise at remortgage |
| 5-year fixed | 4.2% – 5.0% | Medium-term planning | Less flexibility |
| 10-year fixed | 4.5% – 5.3% | Maximum security | May miss rate drops |
| SVR (Standard Variable) | 6.0% – 8.0% | Never choose this intentionally | Very expensive |
| Tracker (base rate + X%) | 4.5% – 5.5% | If you expect rates to fall | Payments can increase |
| Discount variable | 4.0% – 5.0% | Short-term saving | Unpredictable |
⚠️ Always remortgage before your fixed deal ends — defaulting to SVR can cost hundreds per month.
Overpayment Impact
Most mortgages allow overpayments of up to 10% per year. Here’s the impact on a £250,000 mortgage at 4.5% over 25 years:
| Monthly Overpayment | New Term | Interest Saved | Time Saved |
|---|---|---|---|
| £0 (minimum) | 25 years | £0 | 0 years |
| £50 | 23 years 2 months | £13,800 | 1 year 10 months |
| £100 | 21 years 7 months | £25,600 | 3 years 5 months |
| £200 | 19 years 1 month | £44,100 | 5 years 11 months |
| £500 | 14 years 8 months | £79,800 | 10 years 4 months |
Even £100/month in overpayments saves over £25,000 in interest and knocks 3.5 years off the term.
Stamp Duty to Budget For
In addition to your mortgage payment, factor in upfront costs:
| Property Price | Stamp Duty (England) | Stamp Duty (First-Time Buyer) |
|---|---|---|
| £200,000 | £0 | £0 |
| £300,000 | £2,500 | £0 |
| £400,000 | £7,500 | £5,000 |
| £500,000 | £12,500 | £12,500 |
| £600,000 | £17,500 | £17,500 |
How Much Can You Borrow?
Lenders typically offer 4 to 4.5 times your annual income:
| Annual Income | Borrow (4x) | Borrow (4.5x) | Monthly Payment at 4.5% (25yr) |
|---|---|---|---|
| £30,000 | £120,000 | £135,000 | £751 |
| £40,000 | £160,000 | £180,000 | £1,001 |
| £50,000 | £200,000 | £225,000 | £1,251 |
| £60,000 | £240,000 | £270,000 | £1,502 |
| £75,000 | £300,000 | £337,500 | £1,877 |
| £100,000 | £400,000 | £450,000 | £2,502 |
See our mortgage affordability calculator for a personalised estimate.
Interest-Only vs Repayment
For a £250,000 mortgage at 4.5%:
| Type | Monthly Payment | Total Paid (25yr) | Balance at End |
|---|---|---|---|
| Repayment | £1,390 | £417,000 | £0 |
| Interest-only | £938 | £281,400 | £250,000 |
| Difference | £452/month less | Still owe full amount |
Interest-only is £452/month cheaper but you still owe the full £250,000 at the end. You must have a plan to repay the capital.
Key Takeaways
- A £250K mortgage at 4.5% costs £1,390/month over 25 years
- Shorter terms save dramatically — 15 years saves £73,000 vs 25 years
- £100/month overpayment saves £25,600 in interest on a £250K mortgage
- A larger deposit means both a lower rate and smaller loan
- Always remortgage before SVR — SVR rates are typically 6-8%
- Lenders offer 4-4.5x income — joint incomes help significantly
- Interest-only saves monthly but you still owe the full balance at the end
