Fixed Rate Mortgage Calculator
Estimate your monthly repayments and total borrowing cost. Calculate Loan-to-Value (LTV), total interest, and overall affordability based on your deposit and term.
Calculate Your Mortgage Repayments
Enter your property and mortgage details to get a realistic, itemised estimate of your monthly payments and total borrowing cost.
Mortgage Details
Enter your property and loan information
Repayment Evaluation
Estimated monthly and total cost breakdown
Average Fixed Rates by LTV
Indicative average fixed mortgage rates in the UK based on Loan-to-Value (LTV) bands. Lower LTVs secure better rates.
| LTV Band | Typical 2-Year Fixed | Typical 5-Year Fixed | Deposit Required |
|---|---|---|---|
| 90% LTV | ~5.50% | ~5.30% | 10% |
| 85% LTV | ~5.10% | ~4.90% | 15% |
| 75% LTV | ~4.90% | ~4.70% | 25% |
| 60% LTV | ~4.50% | ~4.30% | 40% |
Fixed Rate Mortgages FAQ
Answers to the most frequently asked questions about fixed rate mortgages and home financing in the UK.
A fixed rate mortgage is a home loan where the interest rate remains exactly the same for a set period, typically 2, 3, 5, or 10 years. This means your monthly repayment amount will not change during this fixed period, providing budgeting certainty regardless of Bank of England base rate fluctuations.
A 2-year fixed rate offers flexibility and the chance to remortgage sooner if rates fall, but usually comes with a slightly higher interest rate and more frequent arrangement fees. A 5-year fixed rate provides longer-term payment security and often a lower rate, but may include higher Early Repayment Charges (ERCs) if you need to move or remortgage early.
Loan-to-Value (LTV) is the percentage of the property’s value that you are borrowing. For example, a £20,000 deposit on a £200,000 property means you borrow £180,000, resulting in a 90% LTV. A lower LTV (e.g., 60% or 75%) is seen as less risky by lenders, which typically unlocks significantly lower interest rates.
Most fixed rate mortgages allow you to overpay up to 10% of the outstanding balance per year without incurring Early Repayment Charges (ERCs). Overpaying within this limit can reduce your total interest cost and shorten the mortgage term. Always check your specific lender’s terms.