Mortgage Calculator UK — Calculate Your Monthly Mortgage Payment
Free UK mortgage calculator. Calculate monthly repayments for residential and buy-to-let mortgages. Compare fixed variable and tracker rates for 2026.
Buying a home in the UK is one of the biggest financial commitments you will ever make. With average house prices exceeding £290000 nationally and over £520000 in London understanding your monthly mortgage repayment before making an offer is essential. UK mortgages typically run for 25-35 years with interest rates varying between fixed tracker and variable options. Our calculator helps you compare different scenarios to find the most affordable option for your budget.
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Key Information
| Parameter | Details |
|---|---|
| Average UK Mortgage Rate (Fixed 2yr) | 4.5% - 5.5% (2026) |
| Average UK Mortgage Rate (Fixed 5yr) | 4.2% - 5.0% (2026) |
| Stamp Duty Threshold | £250000 (England) |
| Maximum Loan-to-Value | 90% - 95% (first-time buyers) |
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Use Calculator NowFrequently Asked Questions
How much can I borrow on £50000 salary UK?
On a £50000 salary UK lenders typically offer 4-4.5x your income meaning you could borrow £200000-£225000. With a partner earning £30000 jointly you could borrow £340000-£360000. Your actual borrowing depends on credit score existing debts and the deposit amount. Most lenders also stress-test at higher rates to ensure affordability.
What is stamp duty on a £300000 house?
For a £300000 property in England in 2026 the stamp duty for a standard buyer is £2500 (0% on first £250000 then 5% on £250001-£925000). First-time buyers pay £0 stamp duty on properties up to £425000 making significant savings. Scotland and Wales have different rates and thresholds.
Fixed vs variable mortgage which is better UK?
Fixed rate mortgages give you payment certainty for 2-5 years protecting against rate rises. Variable or tracker mortgages start lower and fall if the Bank of England base rate drops but can increase unpredictably. In 2026 with rates potentially declining many borrowers choose a 2-year fix planning to remortgage when rates drop further.
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Last updated: 24 March 2026