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£ Mortgage Calculator UK
One UK-specific suite: monthly payments, how much you can borrow, stamp duty (SDLT) with first-time buyer relief, the lender stress test, LTV rate bands, Help to Buy & First Homes. Built for England & Northern Ireland buyers.
Estimate only — not financial advice. Figures are educational estimates using rates published on gov.uk (SDLT bands from 1 April 2025). A lender's decision depends on its own affordability checks, credit search and valuation. Consider an independent mortgage adviser.
Monthly mortgage payments
Principal & interest on a repayment mortgage. Enter your loan, rate and term.
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per month (principal & interest)
Total interest
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Loan (incl. fee)
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Number of payments
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Method: standard amortisation
M = P·r(1+r)ⁿ / ((1+r)ⁿ−1), r = annual rate ÷ 12, n = years × 12. Excludes buildings insurance, stamp duty and fees paid upfront. Estimate only — not financial advice.How much can I borrow?
UK lenders combine an income multiple (often ~4.5×) with an affordability test at a stressed rate. We show both — the lower one usually wins.
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maximum mortgage (lower of the two tests)
Income-multiple test
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Affordability test (@ stress rate)
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Affordable monthly payment
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Max property price (loan + deposit)
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Method: income test = gross income × multiple. Affordability test inverts the amortisation formula at the stress rate on (take-home − outgoings − £200 buffer). Lenders each use their own models — this mirrors the approach, it is not a lending decision. Estimate only — not financial advice.
Stamp duty (SDLT) calculator
England & Northern Ireland residential rates from 1 April 2025 (gov.uk) — use it as a stamp duty calculator UK and first time buyer mortgage calculator UK. Scotland uses LBTT and Wales uses LTT — different bands.
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stamp duty land tax due
Effective rate
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Relief applied
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| Slice of price | Rate | Tax |
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Method: marginal slice rates — standard: 0% ≤£125k, 2% £125,001–£250k, 5% £250,001–£925k, 10% £925,001–£1.5m, 12% above. First-time buyer relief: 0% ≤£300k, 5% on £300,001–£500k, no relief above £500k. Additional property: standard + 5pp on every band (from 31 Oct 2024 / 1 Apr 2025). Your solicitor files the SDLT return within 14 days of completion. Estimate only — not tax advice.
Lender stress test
Could you still afford the mortgage if rates rose? Compare your deal rate against a stressed rate.
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payment shock at the stress rate
Payment at deal rate
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Payment at stress rate
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Extra per month
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Extra per year
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Method: both payments use the same amortisation formula; only the rate changes. Lenders historically stress-tested around 6–7% (MoneySavingExpert). This is a budgeting illustration, not a lender's decision model. Estimate only — not financial advice.
LTV & mortgage rate bands
The lower your loan-to-value, the cheaper your rate. See your LTV and the typical five-year fixed rate for your band.
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loan-to-value
LTV band
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Typical 5-yr fixed rate
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Loan amount
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Monthly at typical rate
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Method: LTV = loan ÷ price. Typical rates: 95% LTV 5.39%, 90% 5.26%, 80% 5.15%, 75% 5.07%, 60% 4.98% (five-year fixes, October 2026, via MoneySavingExpert — illustrative; live rates move daily). Estimate only — not financial advice.
UK buyer schemes
Help to Buy equity loan (England) and First Homes discount — how they change your deposit and mortgage.
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mortgage needed
Your deposit (5% min)
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Government equity loan
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Price after discount
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Monthly mortgage payment
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Method: Help to Buy — 5% deposit + 20% equity loan (40% London), interest-free for five years, repaid as a share of the property value. First Homes — minimum 30% discount off market price, discount retained on resale. Eligibility, price caps and availability vary; check gov.uk. Estimate only — not financial advice.
Mortgage questions, answered
How much can I borrow for a mortgage in the UK?
Most UK lenders cap borrowing at around 4.5 times your gross annual income. On a £60,000 salary that is £270,000. Lenders then run affordability checks: they stress-test your payments at a higher rate and subtract your committed outgoings. For example, with £3,500 monthly take-home pay, £1,800 of outgoings and a £200 buffer, you can afford £1,500 a month, which supports roughly £212,230 at a 7% stress rate over 25 years — so the affordability test, not the 4.5x multiple, would bind here.
What are the monthly payments on a £270,000 mortgage at 5% over 25 years?
£1,578.39 per month. Over 25 years you would repay £473,517 in total, which includes £203,517 of interest. Small rate changes move this a lot: at 4.98% the same loan costs £1,575.25 a month.
How much stamp duty will I pay on a £500,000 house in England?
As a standard buyer you pay £15,000: nothing on the first £125,000, 2% on the slice from £125,001 to £250,000 (£2,500), and 5% on the slice from £250,001 to £500,000 (£12,500). As a first-time buyer you pay £10,000: 0% on the first £300,000 and 5% on the £200,000 above it. Stamp duty bands: 0% up to £125,000, 2% to £250,000, 5% to £925,000, 10% to £1.5 million, 12% above.
Do first-time buyers pay stamp duty on a £350,000 home?
Yes, but a reduced amount: £2,500. First-time buyer relief gives 0% on the first £300,000 and 5% on the portion from £300,001 to £500,000, so 5% of £50,000 = £2,500. Relief disappears entirely above £500,000, where standard rates apply.
What is the mortgage lender stress test?
Lenders must check you could still afford payments if rates rose. On a £270,000 mortgage over 25 years, payments are £1,575.25 a month at 4.98% but £1,908.30 at a 7% stress rate — a 21.1% payment shock. The stress-test tab above runs this comparison on your own figures.
How does loan-to-value (LTV) affect my mortgage rate?
Lower LTV means a cheaper rate. Typical five-year fixed rates in October 2026 were about 5.39% at 95% LTV, 5.26% at 90%, 5.15% at 80%, 5.07% at 75% and 4.98% at 60% LTV. A £300,000 home with a £30,000 deposit is 90% LTV, so around 5.26%; with a £120,000 deposit it is 60% LTV, around 4.98%. Rates move, so treat these as illustrative.
How does the Help to Buy equity loan work?
You put down at least a 5% deposit and the government lends you 20% of the price (40% in London), interest-free for five years. On a £300,000 home outside London: £15,000 deposit, £60,000 equity loan, and a £225,000 mortgage covering the rest. The equity loan is repaid as a share of the sale price later.
What is the First Homes scheme?
First Homes gives first-time buyers at least a 30% discount on new-build homes. A £300,000 home costs £210,000 under the scheme, and the discount stays attached to the property when you sell, so it helps the next buyer too. Eligibility and price caps vary by local area.
How much extra stamp duty do I pay on a second home?
Buyers of an additional residential property pay 5 percentage points above standard rates on every band. On a £295,000 purchase that is £19,500, versus £4,750 for a standard buyer of the same home. The higher rates apply from 1 April 2025.
What monthly payment can I afford on my salary?
Lenders look at take-home pay minus committed outgoings, with a buffer for rate rises. With £3,500 monthly take-home, £1,800 of outgoings and a £200 buffer, £1,500 a month is affordable. At a 7% stress rate over 25 years that supports a maximum loan of about £212,230.
What does a £200,000 mortgage cost per month at 4.98%?
£1,166.85 per month over 25 years. That is the principal-and-interest payment only; your lender will add buildings insurance and your solicitor will add stamp duty and fees on top.
Is this calculator financial advice?
No. Every figure here is an estimate for education and comparison only, not professional financial advice. Mortgage offers depend on the lender's own affordability assessment, credit checks and valuation. Stamp duty bands are those published on gov.uk for England and Northern Ireland from 1 April 2025 and can change at any Budget. Scotland uses Land and Buildings Transaction Tax and Wales uses Land Transaction Tax, which have different bands. Speak to an independent mortgage adviser before making decisions.
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