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.
Sources
Rate ranges are compiled from the Bank of England (Bank Rate) and the published rates of major UK lenders. Figures are 2026 references and change frequently — confirm current rates directly with a lender. See our methodology and editorial policy for how we source and update data.
Related calculators
- Barclays Mortgage Calculator
- HSBC UK Mortgage Calculator
- Halifax Mortgage Calculator
- NatWest Mortgage Calculator
- Nationwide Mortgage Calculator
- Santander UK Mortgage Calculator
- Fixed Deposit Calculator – the UK
- SIP Calculator – the UK
- Rent vs Buy Calculator – the UK
- Retirement Calculator – the UK
- Affordability Calculator