The following formula is used to calculate the fixed monthly payment required to fully amortised a loan of your inputted pound amount over a term of months at a specified monthly interest rate.
You can edit any of the fields on the left side of the calculator to produce an accurate quote for your mortgage payment.
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Calculating mortgage payments used to be very complex – but we made it easy! Test out different scenarios for rates, time periods, loan amounts and more to help you decide what mortgage is best suited for you.
There are a few factors that go into estimating how much your regular mortgage payments will be. These 3 numbers are particularly important:
1. Sale Price: This number is the total price of your new home.
2. Term: This is the life or the amortization period of your mortgage (the number of years your mortgage payments will go on for).
3. Interest rate: This is the rate of interest you will be paying on your mortgage.
