Worked comparison
£250,000 mortgage at 5%
| Term | Monthly | Total interest | Total repaid |
|---|---|---|---|
| 25 years | £1,461 | £188,443 | £438,443 |
| 30 years | £1,342 | £233,139 | £483,139 |
| 35 years | £1,262 | £279,922 | £529,922 |
The trade-off
£200 less a month
35 years versus 25+£91,480 interest
More time reduces the required monthly payment, while the remaining balance attracts interest for longer.
How to compare
Compare the shortest workable term
- Monthly paymentNeeds to fit alongside the rest of the household budget.
- Total interestShows the cost of extending the repayment period.
- FlexibilityOverpayment and remortgage options depend on the mortgage deal.
Sources
MoneyHelper longer-term mortgage guide · Calculator repayment method