Answers · UK 2025/26
How much are mortgage repayments on a £550,000 mortgage in the UK?
A £550,000 repayment mortgage at 4.5% over 25 years costs approximately £3,057/month (£917,124 total). At 5%, monthly payments rise to about £3,215 (£964,574 total). Interest-only at 4.5% costs £2,063/month, but the £550,000 capital is still owed at the end.
Full answer
For a £550,000 capital-and-interest repayment mortgage in the UK, monthly payments depend on rate and term. 25-year term: 4.0% £2,903/month (£870,931 total); 4.5% £3,057/month (£917,124); 5.0% £3,215/month (£964,574); 5.5% £3,377/month (£1,013,244); 6.0% £3,544/month (£1,063,097). 30-year term: 4.0% £2,626/month (£945,282); 4.5% £2,787/month (£1,003,237); 5.0% £2,953/month (£1,062,907); 6.0% £3,298/month (£1,187,110). Interest-only at 4.5%: £2,063/month, with the full £550,000 owed at the end. Borrowing at this level typically requires gross household income of roughly £122,000 to £138,000 under standard multiples, and many lenders move to enhanced underwriting or private banking panels for loans of this size. A 10% deposit on a £611,000 property (90% LTV) is possible at some lenders, though larger deposits improve rate choice significantly. Use the mortgage calculator to model your own figures.
Try the calculator
More answers
This answer is informational only and does not constitute financial, tax or legal advice. Figures are for the 2025/26 UK tax year. See our methodology and sources.