£200,000 mortgage calculator
Monthly repayments, total interest and deposit scenarios for a £200,000 UK mortgage.
Quick start — mortgage amount
How much can you borrow?
Typical borrowing (4.5× income)
£247,500
Max property price
£247,500
Some lenders stretch to 5× (£275,000) if income is over £75k or debt-free.
Monthly repayment
Loan £200,000 · LTV 100% (rates rise sharply above 90% LTV)
Monthly payment
£1,013
Total interest over term: £164,813
If the rate changes
Notes
- 4.5× income is the standard FCA/PRA cap. Lenders can lend 15% of new loans above 4.5×, so a small number stretch to 5–5.5× for high earners.
- LTV bands typically price at 60%, 75%, 80%, 85%, 90% and 95%. Crossing a band down can save 0.3–0.6% on the rate.
- Stress test: most lenders assume rate = product rate + 1% for affordability.
- This is an estimate. Speak to an FCA-authorised broker for a decision in principle.
How much does a £200,000 mortgage cost?
On a 25-year repayment mortgage at 4.5%, a £200,000 mortgage costs around £1,112 a month, with £133,499 of interest over the full term. The figures below update automatically for different rates, terms and deposit sizes.
Monthly repayments on a £200,000 mortgage
| Rate | 15 yrs | 20 yrs | 25 yrs | 30 yrs | 35 yrs |
|---|---|---|---|---|---|
| 4.0% | £1,479 | £1,212 | £1,056 | £955 | £886 |
| 4.5% | £1,530 | £1,265 | £1,112 | £1,013 | £947 |
| 5.0% | £1,582 | £1,320 | £1,169 | £1,074 | £1,009 |
| 5.5% | £1,634 | £1,376 | £1,228 | £1,136 | £1,074 |
| 6.0% | £1,688 | £1,433 | £1,289 | £1,199 | £1,140 |
Total interest on a £200,000 mortgage
- 15-year term at 4.5%£75,398 interest · £275,398 repaid
- 20-year term at 4.5%£103,672 interest · £303,672 repaid
- 25-year term at 4.5%£133,499 interest · £333,499 repaid
- 30-year term at 4.5%£164,813 interest · £364,813 repaid
- 35-year term at 4.5%£197,536 interest · £397,536 repaid
Shortening the term on a £200,000 mortgage from 35 to 25 years saves roughly £64,036 in interest.
Example scenarios for a £200,000 mortgage
- 5% deposit: buy at about £210,526 with a £10,526 deposit — 95% LTV, around £1,112/month at 4.5%.
- 10% deposit: buy at about £222,222 with a £22,222 deposit — 90% LTV, around £1,112/month at 4.5%.
- 15% deposit: buy at about £235,294 with a £35,294 deposit — 85% LTV, around £1,112/month at 4.5%.
- 25% deposit: buy at about £266,667 with a £66,667 deposit — 75% LTV, around £1,112/month at 4.5%.
- Income needed: most lenders cap at 4.5× income, so a £200,000 mortgage typically needs a household income of about £44,444.
- If rates rise 1%: repayments move from £1,112 to £1,228 a month — £117 more.
- Overpaying £100/month: on £200,000 at 4.5% you would clear the loan meaningfully earlier and cut interest — most lenders allow 10% overpayment a year penalty-free.
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Is a £200,000 mortgage affordable?
Lenders typically cap borrowing at 4.5 times household income, so a £200,000 mortgage usually needs an income around £44,444 plus a deposit on top.
- Check the payment at a rate 1–2 points higher than today's — that is your renewal risk.
- A larger deposit moves you into a cheaper loan to value band and cuts the monthly cost.
- Extending the term reduces the monthly payment but adds significantly to total interest.
- Budget stamp duty, legal fees, survey and removals separately from the mortgage.
Frequently asked questions
- How much does a £200,000 mortgage cost per month?
- On a 25-year repayment mortgage at 4.5%, a £200,000 mortgage costs about £1,112 per month. The table above shows other rates and terms.
- What income do you need for a £200,000 mortgage?
- At the common 4.5x income multiple you would need a household income of roughly £44,444, subject to affordability checks on your outgoings and credit commitments.
- What deposit do I need alongside a £200,000 mortgage?
- A 10% deposit on a purchase funded by a £200,000 mortgage is around £22,222, giving a 90% loan to value. A 25% deposit gets the cheapest rates.
- How much interest will I pay on a £200,000 mortgage?
- Over 25 years at 4.5% you would repay roughly £133,499 in interest on top of the £200,000 borrowed.