Mortgage Repayments
Mortgage Repayments on £200,000 Over 15 Years
Monthly repayments on a £200,000 UK mortgage over 15 years at a representative 4.5% interest rate are £1,529.99. Total cost over the term: £275,397.58, of which £75,397.58 is interest.
Monthly
£1,529.99
Total paid
£275,397.58
Interest
£75,397.58
Monthly Payment at Different Rates
UK mortgage rates change frequently. See how the monthly cost varies at typical fixed-rate levels:
| Interest rate | Monthly | Total cost | Total interest |
|---|---|---|---|
| 3.50% | £1,429.77 | £257,357.71 | £57,357.71 |
| 4.00% | £1,479.38 | £266,287.65 | £66,287.65 |
| 4.50% | £1,529.99 | £275,397.58 | £75,397.58 |
| 5.00% | £1,581.59 | £284,685.71 | £84,685.71 |
| 5.50% | £1,634.17 | £294,150.04 | £94,150.04 |
| 6.00% | £1,687.71 | £303,788.46 | £103,788.46 |
Highlighted: representative current rate (4.5%). Your actual rate depends on LTV, credit score, term and lender.
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FAQs
How much is the monthly payment on a £200,000 mortgage over 15 years?
Monthly repayments on £200,000 over 15 years at a representative 4.5% interest rate are £1,529.99. Over the full term you would pay £275,397.58, of which £75,397.58 is interest.
How much interest do I pay in total?
On a £200,000 mortgage over 15 years at 4.5%, total interest comes to £75,397.58 — that's 37.7% of the original loan amount on top.
Can I overpay to reduce interest?
Yes — most UK mortgages allow overpayments of 10% per year without early-repayment charges. Even small regular overpayments can save thousands. For example, paying £200 extra per month on this mortgage could shorten the term by several years.
What deposit would I need for a £200,000 mortgage?
Most UK lenders require at least 5% deposit (95% LTV). A 10% deposit (90% LTV) typically unlocks better rates. For a property where the mortgage is £200,000, you'd need roughly £10,526 (5% deposit) to £22,222 (10% deposit) on top.
Related
Disclaimer: Repayment figures assume an interest-only flat rate over the term. Your actual mortgage may include rate changes (after fixed period), product fees, and varying overpayments. Always get a Decision in Principle from a lender or broker for exact figures.