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Interest-Only Mortgage Calculator

Estimate monthly interest-only mortgage payments and see the interest cost over the selected term.

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HOW IT WORKS

How the Interest-Only Mortgage Calculator works

1

Enter the mortgage balance

Add the amount borrowed on an interest-only basis.

2

Enter rate and term

Add the annual interest rate and intended mortgage term.

3

See the interest payment

The monthly estimate covers interest only and does not reduce the capital balance.

COMMON QUESTIONS

Frequently asked questions

What is an interest-only mortgage?

Monthly payments normally cover interest without repaying the original capital balance.

Will the mortgage balance fall each month?

Not through the interest-only payment itself. You generally need a separate repayment strategy for the capital.

Does this calculator include lender fees?

No. It shows the mathematical interest payment based on the balance and rate entered.

Is the rate guaranteed for the whole term?

Not necessarily. Real mortgage products can have fixed, tracker or variable periods. Enter the rate you want to model.

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Property Mortgage Calculator UK Estimate monthly repayments, total interest and loan-to-value. Property Mortgage Overpayment Calculator See how overpayments could reduce interest and shorten the mortgage term. Property Remortgage Savings Calculator Compare current and new repayment mortgage costs, interest and remortgage fees.