Rates & sources
Standard amortisation formulas used across UK lenders. Interest rates move daily — confirm with your lender or broker.
Source: Bank of England — Statistics — figures refreshed at the start of each tax year.
When to use this calculator
- Before comparing lenders, brokers, or repayment options.
- When you want to test how a different deposit, rate, or term changes affordability.
- When you need a quick estimate before using a formal quote or agreement in principle.
A realistic US planning example
Use these sample inputs as a quick scenario test, then change one variable at a time to compare outcomes.
Loan Amount ($)
$280,000
Fixed Rate (%)
5%
Variable Rate (%)
5%
Term (Years)
25 years
After entering these figures, compare fixed, variable and difference before deciding which scenario looks strongest.
How to read your results
Fixed
Use this metric to compare scenarios side by side and understand how the key drivers affect the final outcome.
Variable
Use this metric to compare scenarios side by side and understand how the key drivers affect the final outcome.
Difference
Use this metric to compare scenarios side by side and understand how the key drivers affect the final outcome.
Common mistakes
- !Mixing up loan amount and property value, which can distort affordability and LTV.
- !Using a headline rate but forgetting fees, insurance, taxes, or repayment type.
- !Testing only one term length instead of comparing the payment and total cost together.
What to do next
- Run a second scenario with a higher rate or shorter term so you can see the downside clearly.
- Compare the result with an affordability or overpayment calculator before applying.
- Use the related guides below to understand trade-offs before you request live quotes.
Frequently asked
Use arrow keys to navigate items, Enter or Space to expand/collapse.
End-of-article next steps
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