£240,000 Mortgage Repayments (2026)
A £240,000 repayment mortgage at 5% over 25 years costs £1,403 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% | £1,716 | £1,392 | £1,201 | £1,078 | £992 |
| 4% | £1,775 | £1,454 | £1,267 | £1,146 | £1,063 |
| 4.5% | £1,836 | £1,518 | £1,334 | £1,216 | £1,136 |
| 5% | £1,898 | £1,584 | £1,403 | £1,288 | £1,211 |
| 5.5% | £1,961 | £1,651 | £1,474 | £1,363 | £1,289 |
| 6% | £2,025 | £1,719 | £1,546 | £1,439 | £1,368 |
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 £240,000 mortgage?
At a 5% interest rate over 25 years, a £240,000 repayment mortgage costs £1,403 a month — £420,905 repaid in total over the term. At 4% the same mortgage is £1,267 a month, and stretching to 30 years at 5% lowers the payment to £1,288.
How does the term length change the cost?
Longer terms cut the monthly payment but increase the total interest dramatically. On £240,000 at 5%, a 15-year term costs £1,898 a month (£341,623 total), while a 35-year term costs £1,211 a month but £508,725 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.