Interest Only Mortgage Payment Calculator

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Interest Only Mortgage Calculator

Call one of our independent mortgage advisers for advice on our interest only mortgage payment calculator

Freephone 0800 801079

Your mortgage payment will be determined by the repayment method you select i.e. capital and interest or interest only, the mortgage payment term, the interest rate, mortgage interest calculation method i.e daily / annual interest and the mortgage product selected.

Use the interest only mortgage calculator, by clicking the link above, to work out your repayments whether it be an interest only mortgage or repayment mortgage you are looking for.

Input the mortgage amount, interest rate, and term of mortgage, then press calculate and the monthly mortgage payment will be displayed for both an interest only mortgage payment and a repayment mortgage payment.

Interest Only mortgage
Interest only mortgage - loan for which only payments of interest are paid to the lender during the term of the loan. Anyone opting for an interest-only mortgage, such as linked to an endowment, ISA or pension savings policy, will need to add the cost of the monthly premiums of the policy to the interest figure displayed to arrive at the total monthly payment. On maturity the savings policy is intended to pay off the capital loan.

Repayment mortgage
The second figure gives the total monthly payment for a straight repayment mortgage, including both interest and payment towards the capital loan amount. This reduces the amount owed on the capital, month by month. The second figure shows the amount of interest payment only.

Mortgage Payment Calculator

Mortgage Amount
Interest Rate
Term
Mortgage Type
Interest Calculated

Monthly Payment
Total Payments

This information does not contain all of the details you need to choose a mortgage. Make sure you contact The Mortgage Warehouse (GB) Ltd to obtain a Key Facts Illustration (KFI) before you make a decision. The KFI referred to above is required from 31st October 2004 following the introduction of mortgage regulation under the Financial Services & Markets Act 2000 on that date.

Call 0800 801079 for help with the interest only mortgage payment calculator

interest only mortgage payment calculator (top)

Your home may be repossessed if you do not keep up repayments on your mortgage.