How It Works
- Property Price: Enter the purchase price of your property
- Deposit: How much you're putting down as a deposit
- Interest Rate: Your mortgage interest rate (annual)
- Term: Length of your mortgage (typically 25-35 years)
- Results: See monthly payments, total interest, and repayment schedules
UK Mortgage Types
Fixed Rate Mortgages
Interest rate stays the same for a set period (typically 2-10 years). Provides payment certainty.
Variable Rate Mortgages
Interest rate can change based on Bank of England base rate or lender's standard variable rate.