Repayment vs Interest-Only Mortgage Calculator -

Repayment vs Interest-Only Mortgage Calculator

Compare the estimated monthly cost of a repayment mortgage with an interest-only mortgage.

Mortgage amount (£)

Interest rate (%) Enter the annual interest rate.

Mortgage term

Your Mortgage Comparison

Estimated payments based on the figures you entered.

Repayment Mortgage

Estimated monthly payment

£0.00

Capital repaid by end £0.00

Estimated total interest £0.00

Estimated total payments £0.00

Mortgage balance at end £0.00

Your monthly payments repay both the interest and the amount borrowed. If all payments are made as planned, the mortgage balance reaches zero at the end of the term.

Interest-Only Mortgage

Estimated monthly payment

£0.00

Capital repaid by payments £0.00

Estimated total interest £0.00

Estimated interest payments £0.00

Mortgage balance at end £0.00

Your monthly payments cover the interest only. The original mortgage balance still needs to be repaid at the end of the term.

Monthly payment difference

£0.00

This is how much lower the estimated monthly payment is with interest-only compared with a repayment mortgage.

What Does This Mean?

Important: An interest-only mortgage has lower monthly payments because you are not paying off the amount you borrowed. You need a credible plan to repay the mortgage balance when the term ends.

This calculator provides an estimate. It assumes the same interest rate applies throughout the mortgage term and does not include fees, charges, changes in interest rates or other costs. Actual mortgage payments and costs may be different.

Important Information

Energility provides general information to help you understand energy, household and business costs, services and ways to save money. Our content is for general information only and is not financial, legal, tax, technical or other professional advice.

Information about financial products, including mortgages, loans and insurance, is also provided for general information and comparison purposes. Energility does not provide personalised financial advice. Whether a product is suitable or available to you will depend on your circumstances, the provider’s terms and any eligibility or affordability checks that apply.

Prices, tariffs, interest rates, fees, insurance premiums, grants, government schemes, regulations and other information can change. Any costs, savings, repayments, premiums, quotations or calculator results shown by Energility are estimates unless clearly stated otherwise. Your actual costs and results may be different.

Before making an important financial decision, taking out a financial product, signing a contract or carrying out significant work, check the latest information and the provider’s full terms. Where appropriate, consider getting advice from a suitably qualified professional.

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