Our main calculator on our homepage offers instant calculation results without requiring page reloads.
About MortgageCalculator.UK
About Our Website
Design Inspiration
The site is not in any way associated with any government entity, but we tried to make the colours used in the design themed after colours associated with the Union Jack, as it is one of the most iconic flags the world over and the colours are beautiful. :)
The logo design concept aimed to combine the ideas of a house and a calculator, while also being inspired in part by the TARDIS time machine from the TV show Doctor Who.
Securing the Domain Name
When Nominet confirmed the launch of the .UK TLD we were excited and hopeful to get this domain name. Unfortunately someone else beat us to it. We offered to buy the domain on August 13, 2019 and they turned us down. Three days after turning us down they counter offered with a reasonable price and we bought the domain name.
The site has been online for a couple years with over 99.99% uptime, serving over 100,000 visitors to date in our short history.
Mortgage Calculations
Calculating Monthly Fixed Rate Amortising Mortgage Payments
Calculating regular amortising monthly repayments is easy using the following formula.
Mortgage Payment = P x (r / n) x [(1 + r / n)^n(t)] / [(1 + r / n)^n(t) - 1]
where:
1
P = principal
2
r = mortgage interest rate as a decimal
3
n = number of payments per year (12 for monthly)
4
t = loan term in years
Here is the calculation for a 3% APR loan over 25 years
£180,000 x (.03 / 12) x [(1 + .03 / 12)^12(25)] / [(1 + .03/12)^12(25) - 1]
£180,000 x 0.0025 x [1.0025^300] / [(1.0025)^300-1]
£180,000 x 0.0025 x 2.11501955766 / (2.11501955766 - 1)
£450 x 2.11501955766 / (1.11501955766 ) = £853.58/mo
A person could do this calculation by hand, or use the calculator on our homepage to do it faster automatically.
Calculating Interest Only Monthly Mortgage Payments
The above formula is for an amortising loan. The maths on interest-only payments is easier.
Interest Only Mortgage Payment = P x (r / n)
where:
1
P = principal
2
r = mortgage interest rate as a decimal
3
n = number of payments per year (12 for monthly)
£180,000 x .03 / 12
£180,000 x 0.0025 = £450/mo
Unique Features
What we did to help differentiate the site was to expand beyond the sort of standard user experience people find on most sites. Examples points of differentiation include:
Amortising and Interest Only Payments
Buyers can instantly compare amortising and interest only payments side-by-side.
Amortisation Charts & Tables
Buyers who want monthly or annual amortization tables and charts can also get those as well by clicking on the calculate button.
Share Links
Results on our homepage calculator offer a share link so buyers and other interested parties can share their calculations quickly.
Responsive Web Design
Our site design is clean and simple, using a mobile responsive layout which works well on any device type. We have went to great lengths to ensure the broader site and tables look great on any device.
User Privacy Protection
Your connection to the site is delivered using a secure certificate to protect user privacy. Nobody else will see your calculations unless you go out of your way to share them with someone else via a share link that you are intentionally sharing.
Many visitors have told us they appreciate the attention to detail and simplicity of our site.
There seem to be so many mortgage calculators online, but your site is my go to - none of the others come near in terms of both detail but also simplicity.
Best wishes
Naeem
Additional Calculators
As the site has grown more popular we have looked to expand it. At the request of users we have also added a couple other calculators to our site
- UK mortgage affordability calculator - Estimate what you are likely to qualify for based on your income.
- UK mortgage amortisation calculator - This calculator allows users to create a printable amortisation schedule for their loans. In addition, it allows users to enter their predictions for how mortgage rates may change in the future and see how rate shifts may impact their monthly repayments.
- UK mortgage overpayment calculator - See how much you will need to pay monthly to pay off your loan in a specific number of months and years.
- UK remortgage calculator - similar to the calculator on our homepage, except it allows for equity withdrawal and calculates total loan expense outside of equity withdrawal
If you like our feature rich homepage calculator here are instructions for embedding it in your website.
As Seen In
Thanks to the hundreds of bloggers, journalists, web forum users, and other webmasters who have recommended our website.
Sharing Our Website
1
If you enjoy using this site, please share it wherever you can!
2
You do not need to request to link to our website. You can even embed our calculators on your website.
3
User Privacy
This website does not carry any online advertisements. Users are not tracked in any way other than our site using a web analytics tool named Clicky which helps us track website performance and troubleshoot any technical issues. Their privacy policy is available online here.
Contact Us
If you have any questions about our site you can contact us via email.
Please note we do not have any interest in selling this website or exchanging links with other websites.
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