Mortgages are like flat-pack furniture instructions, simple at first glance, but the details can leave you scratching your head. That’s why I’ve added a new mortgage calculator to the site. It’s built to show you the numbers in plain English (well, plain pounds).

What it does

• Repayment basis: Tells you your monthly and annual payments, total repaid over the term, and shows how your balance reduces to zero.
• Interest-only basis: Shows what you’d pay each month in interest, how much that adds up to over the years, and how the balance never actually goes away (the elephant in the room).
• Stress test: Because lenders love to add a “what if” scenario, the calculator also shows what happens if rates rise by a standard stress rate. That means you’ll see what the bank thinks you can afford, not just what you want to afford.

Why it’s useful

Instead of fiddling with a spreadsheet (though I do love a good spreadsheet), you get the results instantly:

• Monthly cost at today’s rate
• Total over the life of the mortgage
• A chart that makes it painfully obvious whether your debt is shrinking or just hanging around

A note of caution

This is for illustration only. It doesn’t replace advice or a lender’s official calculation. It won’t predict interest rate changes, or whether the Bank of England Governor is having a bad day. But it’s a solid starting point if you’re house-hunting or just curious about what a mortgage will cost.

👉 Try the Mortgage Calculator here