How to Calculate UK Mortgage Payments 2026

Learn the mathematics behind UK mortgage calculations. Understand how interest rates, loan amounts, and mortgage terms combine to determine your monthly payments — with step-by-step examples.

The Mortgage Payment Formula

Monthly payment = P × [r(1+r)^n] / [(1+r)^n − 1], where:

• P = loan amount (property price minus deposit)
• r = monthly interest rate (annual rate ÷ 12)
• n = total number of monthly payments (years × 12)

Use our mortgage calculator for instant results without manual calculation.