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Mortgage Comparison Tool

Compare different mortgage products and repayment options

Use our free mortgage calculator to estimate your monthly repayments. Enter your property price, deposit, interest rate, and mortgage term to see exactly what you'll pay each month — plus the total cost over the life of the mortgage. For a full guide to mortgages for first-time buyers, read our comprehensive guide.

Current market: In January 2026, 93% of first-time buyers secured mortgage rates below 5%. The average FTB house price is £228,000.

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Frequently Asked Questions

How much will my mortgage cost each month?
Your monthly mortgage payment depends on the property price, your deposit, the interest rate, and the mortgage term. For example, a £200,000 mortgage at 4.5% over 25 years would cost approximately £1,111 per month on a repayment basis.
What mortgage term should I choose?
Most first-time buyers choose a 25 to 30 year term. A shorter term means higher monthly payments but less total interest paid. A longer term means lower monthly payments but more interest over the life of the mortgage.
How much deposit do I need for a mortgage?
Most lenders require a minimum 5% deposit, though 10% or more will typically get you better interest rates. On a £228,000 property (the average FTB price), that's £11,400 at 5% or £22,800 at 10%.
What's the difference between repayment and interest-only mortgages?
With a repayment mortgage, your monthly payment covers both interest and a portion of the loan, so the debt reduces over time. With interest-only, you only pay the interest each month and need a separate plan to repay the capital at the end.
Should I choose a fixed or variable rate?
A fixed rate gives you certainty — your payments stay the same for the fixed period (typically 2-5 years). A variable rate can go up or down with the market. Most first-time buyers prefer fixed rates for budgeting stability.

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