Mortgage Repayments
Mortgage Repayments on £300,000 Over 30 Years
Monthly repayments on a £300,000 UK mortgage over 30 years at a representative 4.5% interest rate are £1,520.06. Total cost over the term: £547,220.13, of which £247,220.13 is interest.
Monthly
£1,520.06
Total paid
£547,220.13
Interest
£247,220.13
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% | £1,347.13 | £484,968.26 | £184,968.26 |
| 4.00% | £1,432.25 | £515,608.52 | £215,608.52 |
| 4.50% | £1,520.06 | £547,220.13 | £247,220.13 |
| 5.00% | £1,610.46 | £579,767.35 | £279,767.35 |
| 5.50% | £1,703.37 | £613,212.12 | £313,212.12 |
| 6.00% | £1,798.65 | £647,514.57 | £347,514.57 |
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 £300,000 mortgage over 30 years?
Monthly repayments on £300,000 over 30 years at a representative 4.5% interest rate are £1,520.06. Over the full term you would pay £547,220.13, of which £247,220.13 is interest.
How much interest do I pay in total?
On a £300,000 mortgage over 30 years at 4.5%, total interest comes to £247,220.13 — that's 82.4% 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 £300,000 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 £300,000, you'd need roughly £15,789 (5% deposit) to £33,333 (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.