£490,000 Mortgage Repayments (2026)
A £490,000 repayment mortgage at 5% over 25 years costs £2,864 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% | £3,503 | £2,842 | £2,453 | £2,200 | £2,025 |
| 4% | £3,624 | £2,969 | £2,586 | £2,339 | £2,170 |
| 4.5% | £3,748 | £3,100 | £2,724 | £2,483 | £2,319 |
| 5% | £3,875 | £3,234 | £2,864 | £2,630 | £2,473 |
| 5.5% | £4,004 | £3,371 | £3,009 | £2,782 | £2,631 |
| 6% | £4,135 | £3,511 | £3,157 | £2,938 | £2,794 |
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 £490,000 mortgage?
At a 5% interest rate over 25 years, a £490,000 repayment mortgage costs £2,864 a month — £859,347 repaid in total over the term. At 4% the same mortgage is £2,586 a month, and stretching to 30 years at 5% lowers the payment to £2,630.
How does the term length change the cost?
Longer terms cut the monthly payment but increase the total interest dramatically. On £490,000 at 5%, a 15-year term costs £3,875 a month (£697,480 total), while a 35-year term costs £2,473 a month but £1,038,647 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.