Mortgage Rates Calculator

Estimate your monthly payments and explore current mortgage rates from major UK lenders.

Latest Mortgage Rates

Lender Product Rate (%) APRC (%) Effective Date Actions
Barclays 5 Year Fixed 3.79 5.10 03 Feb 2026
Barclays 2 Year Fixed 3.57 5.50 03 Feb 2026
HSBC 5 Year Fixed 3.76 5.40 03 Feb 2026
HSBC 2 Year Fixed 3.53 6.00 03 Feb 2026
NatWest 5 Year Fixed 3.73 03 Feb 2026
NatWest 2 Year Fixed 3.59 03 Feb 2026
Rates shown are for illustration and may not reflect live offers.

Calculate Monthly Payments

Estimated Monthly Payment: £1,130.03

Important Disclaimer

Mortgage calculations shown on this page are illustrative estimates only. Actual offers depend on credit checks, property valuation, lender criteria, and fees. Consider speaking to a regulated mortgage adviser before committing.

Could You Still Afford This If Interest Rates Rose?

Based on your current estimated monthly payment of £1,130.03, the table below shows how your repayments could change if mortgage rates returned to levels seen during past UK high-interest periods.

Historical environment Interest rate Estimated payment Increase vs today
2008 financial crisis 6.00% £1,449.68 +£319.65
Late 1990s typical rates 7.50% £1,662.73 +£532.70
Early 1990s peak 10.50% £2,124.41 +£994.38
1979 UK interest rate peak 17.00% £3,235.04 +£2,105.02
These scenarios assume the same loan amount and remaining term, with only the interest rate changing. They are illustrative examples based on historical UK conditions, not predictions.

How to Use This Mortgage Calculator

This tool estimates your monthly repayments based on:

  • Loan amount
  • Interest rate
  • Mortgage term (years)
Tip: Use the "Use this rate" buttons in the table above to quickly test different lender rates and compare affordability.

Understanding Mortgage Rates in the UK

Mortgage rates in the UK are influenced by economic conditions, lender risk, and central bank policy. Many lenders closely track the Bank of England base rate, adjusting products as interest rate expectations change.

What affects mortgage rates?

  • Base rate changes - set by the Bank of England
  • Inflation levels - higher inflation can lead to higher rates
  • Loan-to-Value (LTV) - lower LTVs often mean cheaper rates
  • Fixed vs variable terms - fixed rates offer certainty, trackers may fluctuate

Fixed Rate vs Variable Rate Mortgages

Choosing between a fixed or variable mortgage depends on your appetite for risk and your need for stable monthly payments.

Fixed-rate mortgages

  • Monthly payments stay the same
  • Easier budgeting
  • May cost more initially

Variable / tracker mortgages

  • Often cheaper at the outset
  • Can benefit from falling rates
  • Payments may increase unexpectedly
Many borrowers choose fixed rates for peace of mind during uncertain periods.

APRC vs Interest Rate

The interest rate affects your monthly payment, but the APRC (Annual Percentage Rate of Charge) is designed to show the overall cost of the mortgage.

APRC can include:

  • Arrangement fees
  • Booking fees
  • Charges and incentives over the full term

When Should You Review Your Mortgage?

Many borrowers review their mortgage when a fixed deal is ending, but you might also benefit from checking your options if your property value has risen or your financial situation has improved.

  • Your fixed rate ends within the next 6 months
  • Interest rates have fallen since you took your deal
  • Your property value has increased (potentially reducing your LTV)
  • Your income or credit profile has improved