Mortgage Repayments
Mortgage Repayments on £600,000 Over 15 Years
Monthly repayments on a £600,000 UK mortgage over 15 years at a representative 4.5% interest rate are £4,589.96. Total cost over the term: £826,192.75, of which £226,192.75 is interest.
Monthly
£4,589.96
Total paid
£826,192.75
Interest
£226,192.75
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% | £4,289.30 | £772,073.14 | £172,073.14 |
| 4.00% | £4,438.13 | £798,862.96 | £198,862.96 |
| 4.50% | £4,589.96 | £826,192.75 | £226,192.75 |
| 5.00% | £4,744.76 | £854,057.12 | £254,057.12 |
| 5.50% | £4,902.50 | £882,450.13 | £282,450.13 |
| 6.00% | £5,063.14 | £911,365.37 | £311,365.37 |
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 £600,000 mortgage over 15 years?
Monthly repayments on £600,000 over 15 years at a representative 4.5% interest rate are £4,589.96. Over the full term you would pay £826,192.75, of which £226,192.75 is interest.
How much interest do I pay in total?
On a £600,000 mortgage over 15 years at 4.5%, total interest comes to £226,192.75 — 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 £600,000 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 £600,000, you'd need roughly £31,579 (5% deposit) to £66,667 (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.