UK Mortgage Calculator — How Much Will Your Monthly Payments Be?

## UK mortgages in plain English In the UK, most mortgages are **fixed-rate** for 2 or 5 years, then switch to the lender's Standard Variable Rate (SVR) — which is usually much higher. **Typical rates (2025):** 2-year fixed at 4.5%–5.5%, 5-year fixed at 4%–5%. ## Repayment vs interest-only Most UK mortgages are **repayment mortgages** — you pay off both interest and capital each month. **Interest-only** mortgages have lower monthly payments but you owe the full amount at the end. ## Stamp Duty Don't forget Stamp Duty Land Tax (SDLT) when budgeting for a home purchase. On a £300,000 home, SDLT is currently £2,500. Use our Stamp Duty calculator for exact figures. ## The SVR trap When your fixed term ends, your rate can jump significantly. A £200,000 mortgage at 4.5% costs £1,100/month. At the lender's SVR of 7.5%, it jumps to £1,500/month — an extra £400/month. Always remortgage before your fixed term ends.