Mortgage Repayment Calculator

With this type of mortgage, your monthly payments are made partly to repay the interest on the amount borrowed and partly to repay the outstanding capital. The amount left outstanding reduces over the term of the mortgage and the loan is paid off in full at the end of the agreed term.

The monthly payments that you make are simply made up of interest. No part of the mortgage is paid off during the term and this is paid off using the proceeds of a separate investment plan/savings policy such as, for example, an endowment policy, personal pension or ISA. Interest only is an option that is only available on some products and a credible repayment strategy will always be required.

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A minimum of 1 year and a maximum of 40 years.

The part payment percentage can be between 10% and 90%.

The gross annual interest rate as a percentage between 0 and 10%.