How Much Is a Mortgage a Month?

A £200,000 mortgage over 25 years costs about £1,112 a month at the best rates available in August 2026, or £1,228 a month at the rate most borrowers are actually being offered. Here's what a £150,000, £200,000 and £250,000 mortgage costs each month at both, and what moves the figure more than the interest rate does: the term, your deposit, and the type of mortgage.

Last updated: 22 August 2026

What a £150,000, £200,000 and £250,000 mortgage costs a month

Every mortgage payment comes down to three things: how much you borrow, the interest rate, and how many years you spread it over. Here's the monthly cost on a standard repayment mortgage over the most common term, 25 years, at two rates that bracket what's actually available in August 2026: 4.5% for the best deals at a low loan-to-value (LTV, your loan as a percentage of the property price), and 5.5%, close to where most fixed-rate deals sit for borrowers with a 5% to 10% deposit.

Loan amount	At 4.5%	At 5.5%
£150,000	£834	£921
£200,000	£1,112	£1,228
£250,000	£1,390	£1,535

Repayment mortgage, standard 25-year term. Loan amount only, not property price. Use the calculator for your own figures.

These figures are for the loan amount, not the property price. If you're buying with a deposit, the property price is your loan plus your deposit: a £200,000 loan with a £20,000 deposit buys a £220,000 home.

Every payment on a repayment mortgage clears some interest and pays down some of what you borrowed (the capital). Early payments are mostly interest; the split shifts towards capital as the balance falls. An interest-only mortgage costs less each month at the same rate, because you're paying only the interest, but the amount you borrowed still needs repaying in full at the end of the term, from savings, investments, or selling the property.

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Mortgage repayment calculator

Enter your own price, deposit, rate and term to see your exact monthly payment, total interest, and what overpaying would save you.

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What actually moves the monthly figure

The interest rate gets the headlines, but the term and your deposit change the payment by just as much in most cases.

Term length

Spreading the same loan over more years lowers the monthly payment and raises the total interest. On a £200,000 loan at 4.5%:

Term	Monthly payment	Total interest
25 years	£1,112	£133,600
30 years	£1,013	£164,700
35 years	£947	£197,700

£200,000 loan at 4.5%, repayment mortgage. Approximate figures.

Going from 25 to 35 years cuts the monthly payment by £165, but costs roughly £64,000 more in interest over the life of the loan. A longer term is a real tool for affording a purchase now, not a free lunch.

Your deposit and loan-to-value

Your deposit sets your loan-to-value (LTV), and LTV sets which rates you can access. A 5% deposit (95% LTV) puts you in the highest-rate tier, typically 5.5% or more in August 2026. A 40% deposit (60% LTV) unlocks the best deals on the market, closer to 4.3% to 4.5%. The move from a 5% to a 10% deposit is usually the single biggest rate improvement available, worth more than any LTV step after that.

Buying in Scotland

Lenders price mortgages UK-wide, so a £200,000 loan at 4.5% costs the same monthly amount in Aberdeen as it does in Manchester. What's different in Scotland is the upfront cost of the purchase, not the ongoing one: you pay LBTT (Land and Buildings Transaction Tax, Scotland's version of Stamp Duty), not SDLT, and Scottish average house prices tend to be lower, which usually means a smaller loan to begin with. The LBTT explained guide and the Stamp Duty and LBTT calculator cover that upfront figure.

Bringing the monthly cost down

Each option below trades something to lower the payment, or costs something to keep it down later.

Extend the term. Lowers the monthly figure, as above, but adds tens of thousands in interest over the loan's life. Worth it if it's the difference between buying now and waiting years to save more.
Grow the deposit. Moving up an LTV band, from 95% to 90%, or 90% to 85%, typically unlocks a meaningfully lower rate. It also lowers the loan itself, so the saving compounds.
Overpay when you can. Most fixed deals allow overpayments of up to 10% of the balance a year without a penalty. It shortens the term and cuts total interest, the opposite trade to extending it.
Watch the end of your fixed deal. Roll onto your lender's standard variable rate (SVR) and the payment usually jumps, often to 7% or more. Most borrowers remortgage to a new fixed deal before that happens.

Run your own loan, rate and term through the mortgage repayment calculator to see the exact monthly cost, and check the should I remortgage guide before your fixed period ends.

Frequently asked questions

How much is a £200,000 mortgage a month?

About £1,112 a month over a standard 25-year term at 4.5%, or £1,228 a month at 5.5%, the rate most borrowers with a smaller deposit are actually being offered in August 2026. This is for the loan amount, not the property price. Extend the term or get a lower rate and the monthly figure falls; shorten the term and it rises, but you pay less interest overall.

How much is a £150,000 mortgage per month?

About £834 a month over 25 years at 4.5%, or £921 a month at 5.5%. The same maths applies at any loan size, so you can scale the £200,000 figures up or down, or run your own numbers through the mortgage calculator.

What is the average UK mortgage payment in 2026?

There is no single figure, because it depends on your loan size, term and rate. Average fixed rates in August 2026 sit around 5.1% to 5.6%, while the best deals for large deposits are closer to 4.3% to 4.5%. A £200,000 loan over 25 years costs somewhere between roughly £1,110 and £1,230 a month across that range.

Does a longer mortgage term reduce the monthly cost?

Yes. Stretching a £200,000 loan at 4.5% from 25 to 30 years cuts the payment from about £1,112 to £1,013 a month, and 35 years brings it to about £947. The trade-off is total interest: the 35-year version costs roughly £64,000 more in interest over the life of the loan than the 25-year one.

Is my mortgage more expensive in Scotland?

Not the monthly payment. Lenders set rates and income multiples UK-wide, so a £200,000 loan at 4.5% costs the same in Glasgow as it does in Leeds. What differs is the upfront cost: you pay LBTT (Land and Buildings Transaction Tax, Scotland's version of Stamp Duty) rather than Stamp Duty Land Tax on the purchase, and average house prices in Scotland tend to be lower, which usually means a smaller loan in the first place.

How much of my payment is interest versus paying off the loan?

Most of it is interest at the start. On a 25-year repayment mortgage the split shifts gradually towards capital (what you actually borrowed) as the balance falls, so payments late in the term clear far more of the loan than payments in year one. The calculator's year-by-year breakdown shows the exact split for your own figures.