UK Mortgage Calculatorwith AI Assistant

Our mortgage calculator uses the standard UK mortgage amortisation formula and is highly accurate for estimating monthly payments. Results are based on the interest rate and term you input. Actual payments may vary slightly based on lender-specific calculation methods, fees, and insurance requirements.

Most UK lenders require a minimum 5-10% deposit, though 15-20% will unlock better interest rates. First-time buyers may access special schemes with 5% deposits. The more deposit you have, the lower your loan-to-value (LTV) ratio and the better rates available to you.

As of January 2026, the Bank of England base rate is 4.50%. This rate influences all UK mortgage rates, with fixed rates typically priced based on future rate expectations and tracker mortgages directly following the base rate plus a margin.

UK lenders typically offer 4-4.5 times your annual income, though some offer up to 5-5.5x for certain professions or larger deposits. Use our How Much Can I Borrow calculator to get an estimate based on your income and circumstances.

First-time buyers in England and Northern Ireland pay no stamp duty on properties up to £425,000. For properties between £425,001 and £625,000, they pay 5% only on the amount above £425,000. Properties over £625,000 are charged at standard rates.

Fixed rate mortgages lock in your interest rate for a set period (typically 2-5 years), giving predictable payments. Tracker mortgages follow the Bank of England base rate plus a margin, so your payments change when the base rate changes. Fixed rates offer certainty, while trackers can benefit from rate cuts.

Overpaying can save thousands in interest and help you become mortgage-free years earlier. Most mortgages allow 10% overpayment per year without penalty. Before overpaying, ensure you have adequate emergency savings and no higher-interest debts. Use our Overpayment Calculator to see potential savings.

Buy-to-let and additional properties attract a 3% surcharge on top of standard stamp duty rates across all bands. This surcharge applies to the entire property value. Use our Stamp Duty Calculator to see the exact amount for your purchase.