Plan a monthly payment
Enter a loan amount, an illustrative annual interest rate and a term to estimate a monthly payment. You can compare capital and interest, interest-only, or a mix of the two. This is payment arithmetic, not a mortgage offer or an affordability decision.
This assumes the rate stays the same throughout the term and uses monthly interest at one-twelfth of the annual rate. It excludes lender fees, insurance, taxes, rate changes and any overpayments. The figures stay in your browser; this tool does not send them to Count Ready.
Each modelled payment covers interest and some of the original loan. If the assumed rate and payment hold for the full term, the modelled loan balance reaches zero.
The modelled monthly payment covers interest alone. The full amount borrowed remains to be repaid at the end of the term, so a credible repayment plan matters.
One portion is modelled as capital and interest; the other is interest-only. The interest-only portion remains due at the end of the term.
Change the rate to see how the modelled payment moves. A live mortgage rate, product period and fees need a current lender illustration.
Take a proposed payment to the monthly budget check. It shows a balance from your figures but does not determine what a lender may offer.
If you are self-employed, the self-employed mortgage guide explains how trading history and income evidence can affect an application.
No. It is an estimate using the figures and constant rate you enter. Your lender's illustration will set out its actual rate, payment schedule, fees and product terms.
Not necessarily. The interest-only capital remains due at the end of the term. Compare the full cost and the repayment strategy, rather than the monthly payment alone.
No. A lender assesses verified income, spending, credit commitments, deposit, property and its current criteria. If your income varies, seek advice on the evidence a lender may use.
Review the amount, rate and term you entered, then check the full household budget. A longer term can lower a modelled monthly payment while increasing interest over time. Ask for advice before choosing a product.
From estimate to advice
Count Ready can help you compare a realistic loan amount, term and repayment type against your circumstances and current lender criteria. Tell us if you are buying, moving or remortgaging, and whether any income is self-employed. Advice cannot guarantee acceptance.
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