Mortgage calculator
Not sure how much you could borrow, or how much your monthly mortgage payments are likely to cost? Our quick and easy-to-use mortgage calculator is here to help.
Once our mortgage calculator gives you an idea of what you can borrow and what your mortgage repayments might look like, our expert advisers can help you decide which mortgage deal will best suit your needs, and support you throughout the mortgage application process.
Work out what you can afford
Step 1: Start with our mortgage calculator
Our mortgage calculator helps you workout how much you might be able to borrow based on your income.
Sometimes taking out a joint mortgage could increase the amount you can borrow, especially if you both have well-paid jobs. You can head to our joint mortgages page to find out more.
However, mortgage affordability is subject to lots of different things, such as your credit history, monthly outgoings and deposit, and it can also vary from lender to lender.
Step 2: Use our mortgage repayment calculator
One of the most common (and sensible) questions we get asked is ‘How much will my mortgage cost?’
It’s a good question. Because your mortgage is probably going to be your biggest outgoing each month, it’s important to know that you can afford your mortgage repayments.
Our mortgage repayment calculator is quick, easy and free, helping you find out the likely cost of your mortgage in seconds.
The mortgage calculator will display your monthly mortgage cost based on the figures you provide, and help you check your mortgage affordability.
Step 3: Get a Mortgage in Principle
A mortgage in principle is a certificate indicating how much a lender is theoretically willing to lend you.
It’s not a guarantee of a mortgage approval but it’s the initial step in the mortgage process.
This certificate is an indicator that if you pass a lender’s mortgage affordability checks, you might be able to buy a property up to the stated value. You’ll also be able to see what your monthly repayments could hypothetically cost.
Get a Mortgage in Principle
See how much you can borrow and which deals you could be eligible for, and we'll email your certificate in minutes.
No credit check needed
We'll check affordability for up to 45 lenders
Fee free, no obligation decision
Find out more
Using our mortgage calculator
Mortgage calculators not only estimate your monthly payments, but also allow you to compare different mortgage options side by side. For example, you can see how a fixed-rate mortgage compares to a variable-rate one in terms of monthly payments and total interest paid over the life of the loan.
Our mortgage calculator offers a valuable feature that allows you to adjust variables such as interest rates and loan terms. This interactive tool helps you understand how changes in these factors can influence your monthly payments and overall affordability. For instance, you can try out different down payment amounts to see their impact on your loan.
For accurate results from our mortgage calculator, it's essential to input precise details. Please ensure that you enter the exact interest rate offered by your lender and the precise amount of your down payment. This will provide you with a realistic estimate of your monthly mortgage payments and assist you in better planning.
How much will my mortgage cost?
The cost of your mortgage is determined by several factors, including the amount you are borrowing, your mortgage term, and the interest rate you are paying. If you have a repayment mortgage, you will make monthly mortgage repayments that cover both the borrowed capital and the interest due.
If you choose an interest-only mortgage, you will only be paying the interest without reducing the amount you owe. You can learn more about this in our repayment vs. interest-only guide and use our interest-only mortgage repayment calculator to estimate your expected payments.
If you’re not sure which mortgage deal is likely to be most cost-effective for you based on your individual circumstances, our expert advisers can run you through the available options to make sure you’re getting the best deal possible.
Should I use a mortgage broker?
A broker can provide invaluable help during an already busy and challenging time, relieving a lot of stress. It's even better if you can find a fee-free broker.
When you apply through London & Country - L&C Mortgages you will have your own dedicated mortgage advisor and can track the progress of your application online.One crucial part of a mortgage broker’s role is to remain unbiased. Their sole concern should be to secure the best deal for you, tailored to your specific situation.
If you use a mortgage broker such as London and Country - L&C Mortgages, you could potentially save hundreds of pounds in mortgage broker fees while securing a competitive interest rate.
Fee-free mortgage brokers
I know what you’re thinking – a mortgage broker that doesn’t charge a fee? It sounds too good to be true!
In fact, we do receive a fee, but it comes from the lender when a new mortgage completes, not the borrower. A lot of mortgage brokers will charge you a fee on top of the fee they get from the lender, but not us.
Using a fee-free broker is a great way to save money during an already costly process.
Just to be clear: there are no hidden costs for borrowers at all. For clarity, you can read our key facts page.