Renting and housing
Compare gross mortgage payments
Compare level-payment, equal-principal and interest-only repayments using the same loan amount, your own interest rate and term. This is a calculation scenario, not a calculation of how much you may borrow.
Assumptions
The calculation keeps the rate unchanged throughout the selected period. It does not predict the rate after your fixed-rate period. Choose a shorter projection period if appropriate.
We divide the nominal annual rate you enter by twelve and assume payment at the end of each month. An effective annual rate is a different input.
Amounts are gross and exclude tax deductions, insurance, advice fees, maintenance and other housing costs. Borrowing capacity and suitability are not assessed.
With interest-only payments, the amount borrowed remains outstanding. It must be repaid at the end of the loan. This final principal payment is shown separately and is not interest.
Intermediate amounts are not rounded to cents. Only the display is rounded; your provider may use different rounding or payment arrangements.
Mortgage calculation: what determines how much I can borrow?