What this assumes
A repayment mortgage at one rate
The illustration holds the selected rate for the full term. Change the rate and years above to compare monthly payment, total interest and total repaid.
£300k mortgage
Monthly repayments on a £300k mortgage
30-year repayment
£300,000 at 4.89% · £272,529 total interest
The term trade-off£242 less a month over 35 years
Check a home with this mortgage Compared with 25 years, that adds £106,715 total interest.
Illustrative only. Lenders assess income, spending, credit and property differently. Assumptions and sources.