Mortgage repayments by house price
Reviewed by the HomeBuyingCosts team · Last reviewed 7 November 2026 · Independent, not GOV.UK
A £300,000 house bought with a 10% deposit needs a £270,000 mortgage. At 4.63%, the Bank of England's average rate on new mortgages in September 2026, that costs about £1,521 a month over 25 years. A £400,000 house is about £2,028 a month and a £150,000 house about £760, on the same terms. Change the price, deposit, rate or term below.
| Deposit (10.0%) | £30,000 |
| Total interest over 25 years | £186,222 |
| Monthly if the rate were 1 point higher | £1,679 |
| Stamp duty (England and NI): first-time buyer / home mover | £0 / £5,000 |
| Cash needed with default fees: first-time buyer / home mover | £32,699 / £37,699 |
Repayment (capital and interest) mortgage at 4.63% over 25 years. Not a quote: your lender's rate, fees and term set the real figure.
Monthly repayments at every price
Each row assumes a 10% deposit and a repayment mortgage at 4.63%. Stretching the term from 25 to 30 years lowers the monthly payment but adds interest over the life of the loan. The last column is the stamp duty in England and Northern Ireland at that price, which is paid from savings on top of the deposit.
| Price | 10% deposit | Mortgage | Monthly, 25 years | Monthly, 30 years | Stamp duty: first-time buyer / mover |
|---|---|---|---|---|---|
| £150,000 | £15,000 | £135,000 | £760 | £694 | £0 / £500 |
| £200,000 | £20,000 | £180,000 | £1,014 | £926 | £0 / £1,500 |
| £250,000 | £25,000 | £225,000 | £1,267 | £1,157 | £0 / £2,500 |
| £300,000 | £30,000 | £270,000 | £1,521 | £1,389 | £0 / £5,000 |
| £350,000 | £35,000 | £315,000 | £1,774 | £1,620 | £2,500 / £7,500 |
| £400,000 | £40,000 | £360,000 | £2,028 | £1,852 | £5,000 / £10,000 |
| £450,000 | £45,000 | £405,000 | £2,281 | £2,083 | £7,500 / £12,500 |
| £500,000 | £50,000 | £450,000 | £2,535 | £2,315 | £10,000 / £15,000 |
| £600,000 | £60,000 | £540,000 | £3,041 | £2,778 | £20,000 / £20,000 |
| £750,000 | £75,000 | £675,000 | £3,802 | £3,472 | £27,500 / £27,500 |
Why the rate matters as much as the price
4.63% is the Bank of England's effective rate on newly drawn mortgages in September 2026: the interest actually paid, averaged across all new mortgages whatever the product or deposit. The rate you are offered depends on your deposit and the deal, so treat it as a starting point and use your own quote.
On the £270,000 mortgage for a £300,000 house, one percentage point either way moves the payment by about £158 a month:
| Rate | Monthly on a £270,000 mortgage (25 years) | Total interest over 25 years |
|---|---|---|
| 3.63% | £1,371 | £141,174 |
| 4.63% | £1,521 | £186,222 |
| 5.63% | £1,679 | £233,718 |
What a typical first home costs each month
HM Land Registry's House Price Index puts the average price paid by first-time buyers in England at £246,042 in August 2026. With 10% down that is a £221,438 mortgage. A first-time buyer at that price pays no stamp duty, because relief covers the first £300,000. City and county pages give the local averages.
| Nation | Average first-time buyer price | Mortgage with 10% down | Monthly, 25 years |
|---|---|---|---|
| England | £246,042 | £221,438 | £1,247 |
| Scotland | £162,166 | £145,949 | £822 |
| Wales | £186,313 | £167,682 | £944 |
Cash on top of the mortgage
The deposit is only part of the cash. On a £300,000 house a home mover also pays £5,000 stamp duty and a first-time buyer £0, plus conveyancing, a survey and any lender fee (£2,699 at this site's default figures). With a 10% deposit a first-time buyer needs about £32,699 in total and a home mover about £37,699.
Questions
How much is a mortgage on a £300,000 house?
With a 10% deposit you borrow £270,000. At 4.63% (the Bank of England's average rate on new mortgages in September 2026) that is about £1,521 a month over 25 years or £1,389 over 30. With 5% down it is £1,605 over 25 years.
How much is a mortgage on a £400,000 house?
With a 10% deposit you borrow £360,000. At 4.63% (the Bank of England's average rate on new mortgages in September 2026) that is about £2,028 a month over 25 years or £1,852 over 30. With 5% down it is £2,140 over 25 years.
How much is a mortgage on a £150,000 house?
With a 10% deposit you borrow £135,000. At 4.63% (the Bank of England's average rate on new mortgages in September 2026) that is about £760 a month over 25 years or £694 over 30. With 5% down it is £803 over 25 years.
How much is a mortgage on a £350,000 house?
With a 10% deposit you borrow £315,000. At 4.63% (the Bank of England's average rate on new mortgages in September 2026) that is about £1,774 a month over 25 years or £1,620 over 30. With 5% down it is £1,873 over 25 years.
Is it better to take a 25 or 30 year mortgage?
A longer term lowers the monthly payment but costs more in total. On a £270,000 mortgage at 4.63% the payment falls from £1,521 to £1,389 a month, and total interest rises from £186,222 to £230,033.
Budgeting the whole purchase?
The Home Buying Costs Pack sets out every cost of buying and when each is paid, with a budget worksheet. £4.99, one-off.
See the packSources
- Bank of England: Money and Credit, September 2026 (published 29 October 2026) (checked 7 November 2026)
- HM Land Registry: UK House Price Index, August 2026 (checked 7 November 2026)
- GOV.UK: Stamp Duty Land Tax residential rates (checked 7 November 2026)