How much deposit do I need for a UK mortgage?

The largest range of products sits at 75% loan-to-value, which means a 25% deposit. Five and ten per cent deposits exist, but the rates rise sharply as the deposit falls, and above 90% LTV the choice narrows to a handful of lenders. A useful rule of thumb is that every 5% more deposit tends to move you into a cheaper band.

What is the difference between repayment and interest-only?

On a repayment mortgage the monthly payment covers the interest plus part of the capital, so the balance falls to zero by the end of the term. On interest-only you pay only the interest, so the payment is much lower but the full amount borrowed is still owed at the end and must be repaid from another source. Interest-only means paying far more interest in total over the life of the loan.

How much can I borrow on my salary?

Most lenders cap borrowing at around four and a half times gross household income, though some will go higher for certain professions or incomes. That cap is not the answer on its own: lenders also stress-test the payment at a higher rate than the one they are offering, and that test — not the income multiple — is often what limits borrowing for anyone with debts, dependants or childcare costs.

What happens when my fixed rate ends?

You move onto the lender's standard variable rate, which is almost always more expensive than the deal you came off. Lenders must write to you before it happens, and the sensible time to arrange a remortgage is around six months before the fix ends, because most lenders let you lock a new rate that far ahead without penalty.

Is a lower rate always the cheaper deal?

No, and this is the most expensive mistake in mortgage comparison. A product with a lower rate but a large arrangement fee can cost more than a slightly higher rate with no fee, particularly if you expect to move or remortgage before the fee has been recovered. The comparison only makes sense over the period you actually intend to hold the mortgage.

Do I pay stamp duty on a mortgage?

No — stamp duty land tax is charged on the purchase price, not on the mortgage. It is still a cash cost on completion, and it cannot be borrowed against the property, so it belongs in the calculation of how much cash you need alongside the deposit, legal fees and survey.

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Mortgage calculator you can trust

Repayment and interest-only, in one place. Work out what you would pay each month, how much you could borrow, and what the mortgage really costs over its full term — including the stamp duty and fees most calculators leave out.

What you would pay each month, and what happens when a fixed rate ends.

Property price (£)

Deposit (£)

90% loan to value

Interest rate (%)

Term (years)

Repayment type

Fixed period (years)

Used to show what happens when the fix ends

Monthly payment

£1,500.75

on a £270,000 loan at 4.5% over 25 years

Loan amount: £270,000
Total paid over the term: £450,225
Total interest: £180,225

When the fix ends

After 5 years you move onto the lender's standard variable rate — modelled here at 8.49%, being Bank Rate of 3.75% plus a typical 4.74% margin.

Payment now: £1,500.75
Payment after the fix: £2,172.29
Monthly increase: +£671.54

This is why remortgaging before a fix ends matters. Most lenders let you lock in a new rate up to six months ahead.

An estimate. Your lender's figure will differ because of fees, valuation and their own criteria.

What this calculator answers

Calculate your monthly payment

Enter the price, your deposit and the rate you have been offered. You get the exact monthly figure for a repayment mortgage, and for interest-only if that is what you are considering — with the warning that interest-only leaves the whole loan outstanding at the end.

Find out how much you can borrow

Lenders apply two tests and you are bound by whichever bites first: an income multiple, usually around 4.5×, and a stressed affordability test at a higher rate than they are offering. This calculator runs both and shows you which one limits you.

Calculate what your mortgage costs

The monthly payment is not the cost. Over a 25-year term you typically pay more in interest than the original loan, and the deposit is not the only cash you need up front. Both are shown in full, with the stamp duty working shown band by band.

Current UK mortgage rates

Every lender we track, with the rate, the fee and the maximum loan-to-value. Rates change weekly.

Bank of England Bank Rate

3.75%

Held at the most recent Monetary Policy Committee meeting. Every tracker and standard variable rate is priced from this figure.

Read from the Bank of England on 25 October 2026.

Current Bank Rate at the Bank of England

Why there is no live rate table on this page

Lenders change mortgage rates frequently — sometimes several times in a month — and each one publishes its own. A table of numbers here would look authoritative and be wrong within days, and a wrong rate on a mortgage comparison costs real money. So instead of quoting figures we cannot keep current, we link you to each lender's own published rates, which are always the primary source.

The calculator above is built from whatever rate you enter, so you can take a figure from any lender's page and see what it costs you immediately.

Every type of UK mortgage, explained

The numbers change weekly. What a product is does not — and that is what determines whether it suits you.

Fixed rate

How it works: The rate is set for a period — commonly two, three, five or ten years — and does not move, whatever happens to Bank Rate.
Who carries the risk: You carry the risk of rates falling: if they drop, you are paying more than the market until the fix ends. You are protected if they rise.
Who it suits: Anyone whose budget cannot absorb a payment rise, and especially first-time buyers in the early years when savings are thin.

Tracker

How it works: The rate follows Bank Rate at a fixed margin, so it moves the day the Bank of England moves. Many trackers have a collar — a floor below which the rate will not fall.
Who carries the risk: You carry the risk of rates rising, and payments can change at any MPC meeting. You benefit immediately when they fall.
Who it suits: Borrowers who can absorb a rise and want to benefit from cuts, or who expect to overpay or move soon.

Standard variable rate (SVR)

How it works: The lender's own default rate, set at its discretion rather than by formula. It is what you revert to when a fixed or tracker period ends.
Who carries the risk: The lender can move it whenever it likes, and it is almost always more expensive than the deal you came off.
Who it suits: Nobody, for any length of time. It is a staging post to remortgage away from, not a destination.

Discount rate

How it works: A set discount off the lender's SVR for a period. Because it is a discount off a moving rate, the payment can change even during the deal.
Who carries the risk: You carry both the risk of SVR moving and the risk that the lender re-prices its SVR.
Who it suits: Borrowers who want a lower rate without a fixed early-repayment charge, and who can tolerate payment movement.

Offset

How it works: A savings balance is held against the mortgage and interest is charged only on the net difference, so savings effectively earn the mortgage rate tax-free.
Who carries the risk: Usually a slightly higher headline rate, so the offset only pays if the savings balance is large enough to beat the difference.
Who it suits: Anyone holding meaningful cash — the self-employed with a tax reserve, or someone who has sold and not yet bought.

Capped rate

How it works: A variable rate with a ceiling: it can fall but cannot rise above a set level for the capped period.
Who carries the risk: You carry the downside risk only, though these products are now rare and usually carry a higher rate for the cap.
Who it suits: Borrowers who want rate protection but expect rates to fall, and who value the ceiling over the headline rate.

UK mortgage lenders and their current rates

Every link below goes to the lender's own published rates page — the primary source, not a comparison site. Rates, fees and criteria are set by each lender and change without notice.

Banks

Current rates

Skipton Building Society

Known for helping borrowers with small deposits, including its track record product for renters with no deposit.

FixedTrackerVariable

Current rates

Leeds Building Society

Strong on shared ownership and on lending into retirement, which most banks will not do.

FixedTrackerVariableOffset

Current rates

Coventry Building Society

Consistently competitive and one of the few societies to offer offset and flexible features at mainstream rates.

FixedTrackerVariableOffset

Current rates

Specialist and intermediary-only

Accord Mortgages

Yorkshire Building Society's broker-only brand. Intermediary-only, so it is reached through a broker rather than directly.

FixedTrackerVariable

Current rates

Lender details checked on 25 October 2026. This is a starting list rather than every lender in the market — a broker has access to the full panel, including lenders who do not deal directly with the public.

Mortgage questions, answered

How much deposit do I need for a UK mortgage?: The largest range of products sits at 75% loan-to-value, which means a 25% deposit. Five and ten per cent deposits exist, but the rates rise sharply as the deposit falls, and above 90% LTV the choice narrows to a handful of lenders. A useful rule of thumb is that every 5% more deposit tends to move you into a cheaper band.
What is the difference between repayment and interest-only?: On a repayment mortgage the monthly payment covers the interest plus part of the capital, so the balance falls to zero by the end of the term. On interest-only you pay only the interest, so the payment is much lower but the full amount borrowed is still owed at the end and must be repaid from another source. Interest-only means paying far more interest in total over the life of the loan.
How much can I borrow on my salary?: Most lenders cap borrowing at around four and a half times gross household income, though some will go higher for certain professions or incomes. That cap is not the answer on its own: lenders also stress-test the payment at a higher rate than the one they are offering, and that test — not the income multiple — is often what limits borrowing for anyone with debts, dependants or childcare costs.
What happens when my fixed rate ends?: You move onto the lender's standard variable rate, which is almost always more expensive than the deal you came off. Lenders must write to you before it happens, and the sensible time to arrange a remortgage is around six months before the fix ends, because most lenders let you lock a new rate that far ahead without penalty.
Is a lower rate always the cheaper deal?: No, and this is the most expensive mistake in mortgage comparison. A product with a lower rate but a large arrangement fee can cost more than a slightly higher rate with no fee, particularly if you expect to move or remortgage before the fee has been recovered. The comparison only makes sense over the period you actually intend to hold the mortgage.
Do I pay stamp duty on a mortgage?: No — stamp duty land tax is charged on the purchase price, not on the mortgage. It is still a cash cost on completion, and it cannot be borrowed against the property, so it belongs in the calculation of how much cash you need alongside the deposit, legal fees and survey.

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This calculator provides estimates for guidance only and is not financial advice. The mathematics is exact for the figures you enter, but your lender's assessment depends on your full circumstances, their criteria and their own fees. Rates and lender details change without notice — always check the lender's own published rates before making a decision. Stamp duty figures are the England and Northern Ireland residential rates; Scotland and Wales have separate regimes.