£1,000,000 Mortgage Repayments (2026)
A £1,000,000 repayment mortgage at 5% over 25 years costs £5,846 a month. The table below covers rates from 3.5% to 6% and terms from 15 to 35 years.
| Rate | 15 yrs | 20 yrs | 25 yrs | 30 yrs | 35 yrs |
|---|---|---|---|---|---|
| 3.5% | £7,149 | £5,800 | £5,006 | £4,490 | £4,133 |
| 4% | £7,397 | £6,060 | £5,278 | £4,774 | £4,428 |
| 4.5% | £7,650 | £6,326 | £5,558 | £5,067 | £4,733 |
| 5% | £7,908 | £6,600 | £5,846 | £5,368 | £5,047 |
| 5.5% | £8,171 | £6,879 | £6,141 | £5,678 | £5,370 |
| 6% | £8,439 | £7,164 | £6,443 | £5,996 | £5,702 |
Different amount or rate? Use the mortgage repayment calculator.
How it's worked out
Figures use the standard repayment-mortgage formula (capital and interest, equal monthly payments): payment = loan × monthly rate ÷ (1 − (1 + monthly rate)−months). They assume the rate stays the same for the whole term — in practice you'll re-fix every few years. Product fees, valuation fees and overpayments are not included.
FAQ
What are the monthly repayments on a £1,000,000 mortgage?
At a 5% interest rate over 25 years, a £1,000,000 repayment mortgage costs £5,846 a month — £1,753,770 repaid in total over the term. At 4% the same mortgage is £5,278 a month, and stretching to 30 years at 5% lowers the payment to £5,368.
How does the term length change the cost?
Longer terms cut the monthly payment but increase the total interest dramatically. On £1,000,000 at 5%, a 15-year term costs £7,908 a month (£1,423,429 total), while a 35-year term costs £5,047 a month but £2,119,688 in total — the longer term repays far more interest for the same loan.
Are these figures exact quotes?
No — they are standard repayment-mortgage arithmetic (capital and interest, fixed rate for the whole term) to help you budget. A real offer depends on your deal period, fees, loan-to-value and credit profile, and rates change when a fixed deal ends. Interest-only mortgages cost less per month but repay none of the capital.