Mortgage Repayment Calculator
Calculate your monthly repayments based on loan amount, interest rate, and term. See exactly how much you will pay over the life of your mortgage, with a full amortization breakdown showing how your balance reduces over time.
Calculate RepaymentsStamp Duty Calculator
Work out your Stamp Duty Land Tax (SDLT) bill instantly. Covers standard rates, first-time buyer relief, and the additional property surcharge. See a band-by-band breakdown of exactly what you owe to HMRC on completion day.
Calculate Stamp DutyAffordability Calculator
Find out how much you could borrow based on your income, outgoings, and deposit. Uses the standard 4.5x income multiple that most UK lenders apply, adjusted for existing debt commitments and monthly obligations.
Check AffordabilityOverpayment Calculator
Discover how much you could save by making regular overpayments on your mortgage. See the years you could cut from your term and the thousands in interest you could save over the remaining life of your loan.
Calculate SavingsBuy-to-Let Calculator
Evaluate rental property investments with gross and net yield calculations, monthly cash flow projections, and mortgage cost analysis. Essential for landlords assessing whether a buy-to-let property is financially viable.
Analyse InvestmentFirst-Time Buyer Guide
A comprehensive step-by-step guide covering everything from saving your deposit to collecting the keys. Understand mortgages in principle, surveys, conveyancing, exchange, and completion in plain English.
Read the GuideWhy Mortgage Planning Matters in 2026
The UK property market in 2026 presents both opportunities and challenges for buyers. With the average house price in England hovering around the £295,000 mark and interest rates stabilising in the 4-5% range following the Bank of England's cautious approach to monetary policy, understanding the financial commitment of a mortgage has never been more important. A mortgage is the single largest financial obligation most people will ever take on, typically spanning 25 to 35 years and costing hundreds of thousands of pounds in combined principal and interest.
Proper planning before you commit to a mortgage can save you tens of thousands of pounds over the life of the loan. The difference between a 4.0% and 4.5% interest rate on a £250,000 mortgage over 25 years amounts to roughly £17,000 in additional interest. Choosing a 30-year term instead of 25 years to reduce monthly payments sounds appealing, but it adds approximately £30,000 to your total interest bill. These are the kinds of trade-offs that our calculators help you visualise and understand before you sign on the dotted line.
The UK Mortgage Market: Where Things Stand
The mortgage landscape has shifted considerably since the rapid rate increases of 2022-2023. The Bank of England base rate, which peaked at 5.25% in August 2023, has been gradually adjusted downward through 2025 and into 2026, providing modest relief for borrowers. Fixed-rate mortgage products have become more competitive as lenders fight for market share, with two-year fixes typically ranging from 4.2% to 5.0% and five-year fixes from 3.9% to 4.8%, depending on your deposit size and credit profile.
For first-time buyers, the landscape has improved with stamp duty relief allowing purchases up to £425,000 without paying SDLT, and various lender initiatives offering higher loan-to-value products at 95% LTV. However, affordability remains the primary barrier for many would-be homeowners, with lenders applying stress tests at rates typically 3% above the product rate to ensure borrowers can cope with future rate increases.
The buy-to-let sector continues to evolve under the weight of regulatory changes and tax adjustments introduced over the past several years. Landlords now face the 3% stamp duty surcharge on additional properties, restricted mortgage interest tax relief, and increasingly stringent energy efficiency requirements. Our buy-to-let calculator helps investors understand true net returns after accounting for these factors.
How Our Calculators Help You
Each calculator on MortgageToolset is designed to give you clear, actionable numbers based on current UK mortgage market conditions. We do not ask for personal details or email addresses to show you results. Simply enter your figures and get instant answers. Our mortgage repayment calculator shows monthly payments and total costs. The stamp duty calculator covers all buyer categories including first-time buyers and additional property purchasers. The affordability calculator estimates your maximum borrowing power using standard lender income multiples. And the overpayment calculator demonstrates the powerful impact of paying even small amounts above your minimum monthly requirement.
Beyond the calculators, our guides provide in-depth explanations of key mortgage concepts. The first-time buyer guide walks you through the entire process from saving a deposit to completion day. The remortgage guide explains when and why switching deals makes sense. And our mortgage types page breaks down every product available on the UK market with honest pros and cons for each.
Understanding Your Mortgage Costs
A mortgage is more than just the monthly repayment figure. There are several costs to factor into your budget when buying a property. Arrangement fees charged by lenders typically range from free to £1,999 and can be added to the loan (though you will pay interest on them). Valuation fees cover the lender's survey of the property, usually between £250 and £1,500 depending on the property value. Solicitor or conveyancer fees for the legal work typically range from £1,000 to £2,000 plus disbursements. And if you use a mortgage broker, some charge a fee of around £500 while others earn commission from the lender.
Stamp Duty Land Tax represents one of the largest upfront costs, particularly for those purchasing above the nil-rate thresholds or buying an additional property. Our stamp duty calculator provides an exact breakdown based on your circumstances. It is important to factor this cost into your savings plan well before you start house hunting, as it must typically be paid on completion day alongside your deposit and legal fees.
Frequently Asked Questions
How much deposit do I need for a UK mortgage in 2026?
Most UK lenders require a minimum deposit of 5% of the property price, though putting down 10-20% will give you access to better interest rates. For a property costing the UK average of around £295,000, a 10% deposit would be £29,500. First-time buyers may access government-backed schemes that support smaller deposits. The larger your deposit, the lower your loan-to-value ratio, which typically means lower interest rates and more competitive mortgage products to choose from.
What is the average UK mortgage interest rate in 2026?
As of early 2026, average UK mortgage rates sit between 4.0% and 5.5% for fixed-rate products, depending on the term length and loan-to-value ratio. Two-year fixed rates tend to be slightly higher than five-year fixes. Rates have stabilised following the Bank of England base rate adjustments through 2025. The best deals are typically reserved for borrowers with 40% or more equity or deposit, while those with just 5-10% deposit will pay a premium of 0.5% to 1.0% above the lowest advertised rates.
How much can I borrow for a mortgage in the UK?
UK lenders typically offer between 4 and 4.5 times your annual household income, though some specialist lenders may stretch to 5-5.5x for higher earners. Your borrowing amount also depends on your credit score, existing debts, monthly outgoings, and the lender's own affordability assessment criteria. Use our affordability calculator to get an estimate based on your specific income and circumstances. Remember that affordability assessments also consider future rate increases, so lenders stress-test at higher rates.
Do I pay stamp duty as a first-time buyer?
First-time buyers in England and Northern Ireland pay no stamp duty on the first £425,000 of a property purchase, provided the total price is £625,000 or less. If the property exceeds £625,000, standard SDLT rates apply to the entire purchase. Scotland and Wales have their own land transaction taxes with different thresholds and rates. Use our stamp duty calculator to see the exact amount you would owe based on your property price and buyer status.
Should I get a fixed or variable rate mortgage?
Fixed rates offer payment certainty and protection against rate rises, making them popular when rates are expected to increase or remain volatile. Variable rates (including trackers and discount mortgages) can be cheaper initially but carry the risk of payments increasing if the Bank of England raises rates. In the current 2026 market, most borrowers prefer fixed rates for budget stability, though variable rates may suit those expecting rates to fall or who plan to move or remortgage within a short period. Read our detailed mortgage types guide for a full comparison.