Mortgage
Repayment Calculator
Estimate your monthly repayment and the total cost of your mortgage based on the amount you borrow, your interest rate, and the term.
This is an illustrative repayment estimate based on a repayment mortgage with a fixed interest rate for the full term. Your Anderson Reed mortgage adviser can explain the options available for your circumstances.
How does our repayment calculator work?
This calculator uses the mortgage amount, interest rate, and term you enter to estimate your monthly repayment. It assumes you make a repayment mortgage payment every month and that the interest rate stays the same for the full term.
Use the results as a helpful starting point. An Anderson Reed mortgage adviser can compare suitable products and explain the payment, fees, and terms that apply to your circumstances.
What is a mortgage repayment?
A mortgage repayment is the regular amount you pay to your lender. With a repayment mortgage, each payment covers the interest due and pays off part of the money you borrowed, helping you work towards owning your home outright.
How do mortgage interest rates work?
Interest is the cost of borrowing money. It is calculated as a percentage of the balance you still owe, so changing the interest rate or mortgage term can make a meaningful difference to your monthly payment and the total amount you repay.
How can we help?
How much can you borrow?
Explore what you may be able to borrow for your next home.
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Compare the next steps for your current mortgage deal.
Coming soonMortgage repayment questions
Helpful answers to common questions about using this calculator.
A mortgage repayment calculator estimates the regular payment needed to repay the amount you borrow, plus interest, over a chosen term. Changing the amount, interest rate, or term lets you compare different scenarios.
No. This calculator does not carry out a credit search, access your credit report, or leave a record that lenders can see.
On a repayment mortgage, each payment covers interest charged by the lender and reduces the amount you borrowed. Earlier payments generally include more interest, while later payments repay more of the loan.
This calculator assumes the interest rate stays the same for the full term. Your actual payment can differ because of product fees, changes to a variable rate, the lender’s calculation method, or the mortgage product you choose.