Mortgage Repayment Calculator

See how much your monthly payments could be

Your home could be repossessed if you don’t keep up repayments on your mortgage

What is a mortgage calculator?

A mortgage calculator is a useful tool that helps you estimate your monthly mortgage payments based on various factors such as the mortgage amount, mortgage term, and mortgage interest rate. It eliminates the need for complex manual calculations and provides quick results. With a mortgage calculator, you can get a better understanding of the financial implications of borrowing money to purchase a property.

Who is a mortgage calculator for?

A mortgage calculator is beneficial for anyone who is considering buying a property or refinancing an existing mortgage. Whether you are a first-time homebuyer, a current homeowner looking to upgrade, or a real estate investor, a mortgage calculator can assist you in making informed decisions about your mortgage options.

What information do I need to use a calculator?

To use a mortgage calculator effectively, you will need the following information:

  • Mortgage amount: This is the total amount of money you intend to borrow from a lender to purchase a property.
  • Mortgage term (years): The mortgage term is the length of time you choose to repay your mortgage. Typically, mortgage terms range from 15 to 30 years.
  • Mortgage interest rate (%): The mortgage interest rate is the annual percentage rate charged by the lender for borrowing the money. It influences your monthly mortgage payments.

By entering these details into the mortgage calculator, you can generate accurate estimates of your monthly repayment amount.

Which mortgage calculator is right for me?

There are various types of mortgage calculators available online, each designed to address different needs. Here are a few common ones:

  1. Basic Mortgage Repayment Calculator: This calculator helps you determine your monthly mortgage payments based on the mortgage amount, term, and interest rate. It provides a quick estimate of how much you need to budget for your mortgage.
  2. Affordability Calculator: If you are unsure about the mortgage amount you can afford, an affordability calculator can help. By considering your income, expenses, and other financial factors, it provides an estimate of the maximum mortgage amount you can borrow.
  3. Refinance Calculator: If you are thinking about refinancing your mortgage, a refinance calculator can assist you in evaluating whether it's a financially viable option. It calculates your new monthly payments based on the updated mortgage terms and interest rates.

Choose the mortgage calculator that aligns with your specific requirements to get the most accurate results.

How much deposit do I need to buy a house?

The amount of deposit you need to buy a house depends on several factors, including the mortgage lender's requirements and the type of mortgage you choose. Generally, lenders prefer a deposit of at least 20% of the property's purchase price to secure a mortgage with favorable terms. However, it's possible to secure a mortgage with a smaller deposit, such as 10% or even 5% of the purchase price.

Keep in mind that a larger deposit often leads to lower interest rates and better mortgage deals. Additionally, a higher deposit reduces the overall amount you need to borrow, resulting in lower monthly repayments.

What are mortgage interest rates?

Mortgage interest rates are the charges imposed by lenders on the money you borrow to purchase a property. These rates can vary depending on various factors, including economic conditions, market trends, your creditworthiness, and the mortgage term.

Interest rates can be fixed or variable. Fixed interest rates remain constant throughout the mortgage term, providing stability and predictable monthly payments. Variable interest rates, on the other hand, can fluctuate based on market conditions, potentially affecting your monthly payments.

Comparing mortgage interest rates from different lenders is crucial to find the best mortgage deal. Lower interest rates can save you a significant amount of money over the life of your mortgage.

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What Our Clients Say About Us

5.0 Based on 138 reviews from review us onZack R. ★★★★★ Having dealt with Ascot Mortgages and Alison for many years now I can say that you wont find a more professional, knowledgeable and efficient company to help with your mortgage. Alison is patient and makes the whole process seem easy. She has the answer to any question you have and seems to genuinely care. I can not recommend enough. I am sure I will be using Ascot Mortgages for years to come.Umair Z. ★★★★★ It has been a fantastic experience to work with both Phil and Jardelle at Ascot Mortgages to secure a mortgage product for my first home. Phil made the mortgage process smooth and easy. They are professionals and know what they are doing. Very pleased with the service and communication. would highly recommend them.Hello at NLP West M. ★★★★★ I needed a buy to let re-mortgage. Ascot were efficient from start to finish. I can recommend them completely especially because they can search the whole spectrum of mortgage lenders and meet the clients needs. never waiting for staff to get back and always kept me in the loop.Onohomen O. ★★★★★ ZHOU J. ★★★★★ It has been a brilliant experience to work with both Phil and Jardelle at Ascot Mortgages to secure a great mortgage product for our next home. Given how challenging the current market is, they have done a fantastic job to meet our needs with their expertise, professionalism and effectiveness. We would highly recommend their services to whom seeks help with their property purchase.Nicholas S. ★★★★★ Fantastic service. Ellie and Jardelle were always quick to reply to any queries and very helpful throughout the process. Highly recommend!Stacey S. ★★★★★ Jason was brilliant to work with! Always on top of the transaction! Would highly recommend 👍Scott ★★★★★ Although I've not bought anything yet, they (Jason in particular) have been super helpful in my search for the right mortgage deal, whilst also giving an honest opinion during these difficult times. Would highly recommend.Sandra I. ★★★★★ Fantastic from start to finish! Natalia and Jason found me the best rate for my remortgage and they were extremely efficient! Best service I’ve ever received from a brokerage company. Thanks so much.Virmantas N. ★★★★★ Amazing service and great communication. Ellie Morgan had quickly completed all requests and over delivered all expectations.Highly recommended for those who want to get the stuff done without any delays!David W. ★★★★★ I have used ascot for 3 renewals since they done helped me with my purchase which was complicated and will continue to use them going forward. Very fair prices and very helpful and knowledgeable even with just general information.Adam B. ★★★★★ Natalia made life very easy for us when remortgaging. Third time using ascot always a breezeTaff G. ★★★★★ Ascot Mortgages have been brilliant. Easy to work with and incredibly helpful. I am always happy to recommend them. Natalia and Jason have made the whole process much easier than I was expecting. Excellent service.Daryl L. ★★★★★ We've had a fantastic experience with Natalia Barry and Jason Jones at Ascot Mortgages for our property purchases and refinancing. Their expertise, coupled with genuine care and understanding of our needs, made the process smooth and stress-free.They were consistently communicative, keeping us informed at every step. Their assistance in consolidating our protection cover was invaluable, simplifying what could have been a complex process.What set them apart was their personal touch – always polite and ready to pick up the phone for a chat. This level of personal engagement is rare and much appreciated.In short, Natalia and Jason are not just skilled professionals but also truly dedicated to their clients. We highly recommend their services to anyone in need of mortgage advice.Sarah A. ★★★★★ I have used this firm for several years and they have always been super helpful and supportive, attentive and resolved issues in really useful ways. Shout out to Alison, Ellie and Jardelle (and the team!)Georgia W. ★★★★★ We worked with Ellie to secure our mortgage and protection, and she was a dream! Being a first time buyer, I was quite clueless about the process, and in a time where mortgage rates have been quite high, she worked right til the end to make sure we were getting our mortgage at the best possible rate and was always available to answer all questions I had. Can't recommend enough 🙂Richard D. ★★★★★ Laura S. ★★★★★ As a first time buyer, trying to navigate through potential mortgages was a very daunting thought. Ascot Mortgages were recommended to me and I've been extremely happy with the service provided. They have guided me through every step and I finally have a mortgage. Very pleased and would recommend.Lucy B. ★★★★★ Having Phil as my mortgage advisor was great from the very start! He is down to earth and speaking to him was always a pleasure. The kindness, compassion and support I have been given all the way through what can be a stressful process was immeasurable. Phil and Jardelle worked as a solid team and was able to make me feel at ease all the way through buying my first home. The team were always available and the communication between everyone was always clear and I felt safe in the hands of the company as a whole. Thank you for helping me buy my first home!Flora R. ★★★★★ I worked with Richard (Protection Adviser) for a couple of days to sort out life and critical illness insurance. Absolutely brilliant, he found me and my husband the perfect policy. Very knowledgeable and easy to get on, he definetely makes things easy to understand. Thank you for the great service provided.Matthew R. ★★★★★ I've dealt with Phil at Ascot Mortgages for a while now and Phil always comes back back to me with the right plan.Keep the good work up!rafal W. ★★★★★ I would thoroughly recommend Phil Greenwood at Ascot Mortgages ltd to anyone looking to seek advice on purchasing a home.Phil was absolutely fantastic. He made the process very smooth and easy and was always there to answer any questions I had.Shahid L. ★★★★★ This company has been truly amazing in constantly giving me the support and help i need for my mortgage and for their continuous work ethic guiding customers like myself and educating them into making the best possible decisions. My special mention goes to Phil Greenwood who deserves every single credit for his brilliant work and communication skills. The more I got to work with Phil, the more he gained my respect as he is a hugely likeable man and possibly the best mortgage advisor yet. Even after I finished my time with Ascot Mortgages, I will never lose my trust in the company and I hope they exceed their business and gain even more success and popularity.Best wishes,Shahid Latif and familyPretty L. ★★★★★ Phil helped me renew my mortgage. He was great at keeping me updated with any rate changes and secured a lower rate than at the time my mortgage went through. Thank you Ascot for your supportNikki E. ★★★★★ Huge thanks to Richard Johnson for sorting out all of my insurance policies! I had accumulated a variety of life cover and various other policies over the years that all needed a good review and refresh. Richard was extremely patient and helped me to remove the duplication and choose the best cover to suit our current needs. I have used Ascot Mortgages for over 12 years and have met several members of the team, always finding the right help and support to work through what can be a complicated and stressful time. Thanks again, Richard!js_loader
Ascot Mortgages Ltd
5.0
Based on 138 reviews
Google Rating
5.0
Based on 138 reviews
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