UK Mortgage Calculator — Monthly Payment & Affordability
Calculate your UK mortgage repayments using current high-street bank rates. 2-year fixed, 5-year fixed, tracker, or SVR. No email capture — just math.
Current UK mortgage rates (April 2026)
| Deal type | Typical APR | When it is best |
|---|---|---|
| 2-year fixed (60% LTV) | 4.10% – 4.50% | If you expect rates to fall soon |
| 5-year fixed (60% LTV) | 4.25% – 4.65% | If you want long-term certainty |
| 2-year fixed (95% LTV) | 4.80% – 5.40% | First-time buyers with 5% deposit |
| Tracker (BoE + 0.5–1%) | 4.50% – 5.00% | If base rate falls further |
| Buy-to-let 5-year fixed | 4.85% – 5.75% | Investment properties |
Bank of England base rate is currently 4.00%. The cheapest mortgage deals are reserved for 40% deposit (60% LTV) with top credit scores.
Major UK mortgage lenders
- HSBC UK — often market-leading rates for existing customers, fast online application
- Barclays — Family Springboard mortgage, Premier discounts
- Lloyds Bank / Halifax — largest mortgage lender by volume, flexible overpayment terms
- NatWest — good green mortgage rates for energy-efficient homes
- Santander UK — competitive 5-year fixed deals
- Nationwide — strong for first-time buyers and existing members
The real cost of a UK mortgage
Example: £300,000 loan at 4.50% for 25 years repayment.
- Monthly payment: £1,668
- Total paid over 25 years: £500,346
- Total interest: £200,346
- Stamp duty on a £400k home (non-first-time buyer): £7,500
- Conveyancing + survey: £1,500 – £3,000
- Mortgage arrangement fee: typically £999 – £1,999
Budget for 1–2% of purchase price in upfront costs beyond the deposit.
First-time buyer schemes (2026)
- Lifetime ISA (LISA) — save up to £4,000/yr, government adds 25% (£1,000 max), for a first home up to £450,000.
- Stamp Duty relief — first-time buyers pay no stamp duty up to £425,000.
- First Homes scheme — 30–50% discount on selected new-builds for key workers and locals.
- Shared Ownership — buy 25–75% of a home, pay rent on the rest.
Frequently Asked Questions
What is the current UK mortgage rate?
As of April 2026, typical fixed rates range from 4.2% to 5.5%. BoE base rate is 4.00%. The cheapest deals are for 40% deposit.
2-year or 5-year fixed?
2-year fixes are typically lower but you remortgage in 2 years. 5-year fixes are 0.1–0.3% higher but give longer certainty.
How much deposit do I need?
Minimum 5% (95% LTV), but cheapest rates require 40% deposit. First-time buyers can use LISA, First Homes, or shared ownership.
What about stamp duty?
In England/NI: 0% up to £250,000 (£425,000 first-time buyers), then 5% up to £925,000, 10% up to £1.5m. Second homes pay extra 5%.
Repayment or interest-only?
Repayment clears the loan by term end. Interest-only has lower payments but full capital is owed at the end. Rare for residential.