Mortgage Calculator
Monthly payments, total interest, and true mortgage cost
Calculate your monthly repayments, see the full interest cost, understand your LTV, and find out how overpayments accelerate payoff and reduce total interest.
Your home may be repossessed if you do not keep up repayments on a mortgage. This calculator is illustrative only and does not constitute mortgage advice. Speak to a regulated mortgage adviser before making any borrowing decisions.
Loan to Value
80.0%
Loan amount
£240,000
Monthly payment
£1,334.00
Total repaid
£400,199
Total interest
£160,199
66.7% of loan
Interest to loan ratio
66.7%
Outstanding balance over time
| Label | Value |
|---|---|
| Initial loan | £240,000 |
| Balance at year 13 | £148,221 |
| Final balance | £0 |
Why LTV matters
Lenders use LTV to price risk. Below 75% typically gets you the best rates. 75–90% is standard but costs more. Above 90% you'll need specialist lenders and pay a significant premium. A 5% lower LTV bracket can save thousands over the term.
Tip: Mortgage-free living significantly reduces your retirement spending target. A complete retirement projection should factor in your mortgage payoff date.
Mortgage details
LTV: 80.0% · Loan: £240,000
Extra payment above minimum each month
Want a complete retirement projection?
For a complete retirement projection including tax, State Pension, and 10,000 Monte Carlo simulations — use our full retirement planner.
This calculator is for illustrative purposes only and does not constitute financial or mortgage advice. Monthly payment figures are calculated using standard annuity formulas and assume a fixed interest rate for the full mortgage term — most mortgages revert to a standard variable rate after an initial fixed period. Actual payments will depend on your lender's terms, fees, and any rate changes over the mortgage term. This calculator does not account for arrangement fees, valuation fees, legal costs, or other costs associated with taking out a mortgage. Mortgage eligibility depends on your personal financial circumstances, credit history, and lender criteria. Selvox is not a mortgage broker and is not authorised to provide mortgage advice. Always speak to a regulated mortgage adviser before making any mortgage decisions. Your home may be repossessed if you do not keep up repayments on a mortgage.