Use our mortgage calculator to see what your monthly payments could be if you take out a new loan, move home, or if interest rates change.
Use the equity calculator to see how much value there could be in your home if the property market rises or falls.
The calculators are intended to be used as a guide only.
To use our mortgage calculator, you require a browser that supports JavaScript. Your browser either does not support JavaScript, or it has JavaScript support disabled.
Q&A: Mortgages - (link if available)
The amount of your monthly mortgage is determined by a number of variables. It is affected not only by the amount borrowed, but also the number of years over which you will repay the loan and the interest rate your lender is charging.
A further factor will be the type of mortgage you have. A repayment mortgage meets the interest payments on the loan and covers the cost of your home. An interest only mortgage covers your lender's charges, but does not include the cost of your home.
We have taken a number of example mortgages, to see how they would be affected by changes to the interest rate.
£50,000, 10 year mortgage, with an interest rate reduction from 6.0% to 4.5% Repayment mortgage: Down from £566 to £527 (£40 decrease) Interest only mortgage: Down from £250 to £188 (£62 decrease)
£100,000, 20 year mortgage, with an interest rate rise from 4.5% to 6.5% Repayment mortgage: Up from £641 to £756 (£115 increase) Interest only mortgage: Up from £375 to £542 (£167 increase)
£150,000, 25 year mortgage, with an interest rate increase from 6.0% to 6. 5% Repayment mortgage: Up from £978 to £1,025 (£46 increase) Interest only mortgage: Up from £750 to £813 (£63 increase)
£250,000, 25 year mortgage, with an interest rate increase from 6.0% to 9.0% Repayment mortgage: Up from £1,630 to £2,121 (£490 increase) Interest only mortgage: Up from £1,250 to £1,875 (£625 increase)
£300,000, 15 year mortgage, with an interest rate reduction from 5.7% to 5.0% Repayment mortgage: Down from £2,524 to £2,409 (£115 decrease) Interest only mortgage: Down from £1,425 to £1,250 (£175 decrease)
To use our equity calculator, you require a browser that supports JavaScript. Your browser either does not support JavaScript, or it has JavaScript support disabled.
Q&A: Equity (link if available)
Equity is a term used to describe the value of a property over and above the amount owed on it. For example, somebody with a home worth £250,000 and a mortgage of £150,000 could be said to have equity of £100,000.
In contrast, negative equity occurs when the value of a home is below the amount of money owed on it. For example, somebody with a home worth £300,000, but a mortgage of £325,000 has negative equity of £25,000.
In recent years many home owners have seen the amount of equity in their property increase because of rising house prices. But some commentators suggest that house prices could be set to fall, as last happened in the early 1990s.
We have taken a number of example scenarios, to see how home owners would be affected by changes to average property prices.
£125,000 home, with a £60,000 mortgage and a 13% yearly rise in property prices Value after one year: £141,250. Equity after one year: £81,250. Value after three years £180,362. Equity after three years: £120,362.
£200,000 home, with a £150,000 mortgage and a 5% yearly rise in property prices< br /> Value after one year: £210,000. Equity after one year: £60,000. Value after three years £231,525. Equity after three years: £81,525.
£300,000 home, with a £290,000 mortgage and a 10% yearly fall in property prices Value after one year: £270,000. Negative equity after one year: -£20,000. Value after three years £218,700. Negative equity after three years: -£71,300.
£450,000 home, with a £300,000 mortgage and a 2% yearly rise in property prices Value after one year: £459,000. Equity after one year: £159,000. Value after three years £477,544. Equity after three years: £177,544.
£750,000 home, with a £250,000 mortgage and a 15% yearly fall in property prices Value after one year: £637,500. Equity after one year: £387,500. Value after three years £460,594. Equity after three years: £210,594.
Mortgage required £
Repayment periodeg 25 for 25 years £years
Interest rate (%)* £
£
Repayment mortgage £monthly
Interest only £monthly
Mortgage calculator explained
Current property value* £
Mortgage remaining £
Yearly rise or fall in value (%) rise fall
Property value After one yearAfter three years £ £
Equity(not including repayments) After one yearAfter three years £ £
*See property prices in your area
Equity calculator explained
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