Mortgage repayments, demystified

See the monthly payment, the lifetime interest, and — because this is NetWage — what share of your take-home it swallows.

Tax year 2026 / 27

Your details

Loan amount

Interest rate % / term (years)

Type

Your salary (optional — for affordability)

Monthly payment

£—

Total repaid

£—

Of which interest

£—

Repayment vs interest-only

A repayment mortgage clears the debt by the end of the term; interest-only keeps payments low but the full loan remains due. A 0.5% rate difference on a £220k loan changes the monthly payment by roughly £60 — always compare like-for-like terms.

Lenders typically cap borrowing around 4–4.5× income; the affordability line above shows the payment as a share of your NetWage take-home, which is the number that actually decides whether the month works.