£500,000 Mortgage Repayments (2026)
A £500,000 repayment mortgage at 5% over 25 years costs £2,923 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% | £3,574 | £2,900 | £2,503 | £2,245 | £2,066 |
| 4% | £3,698 | £3,030 | £2,639 | £2,387 | £2,214 |
| 4.5% | £3,825 | £3,163 | £2,779 | £2,533 | £2,366 |
| 5% | £3,954 | £3,300 | £2,923 | £2,684 | £2,523 |
| 5.5% | £4,085 | £3,439 | £3,070 | £2,839 | £2,685 |
| 6% | £4,219 | £3,582 | £3,222 | £2,998 | £2,851 |
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 £500,000 mortgage?
At a 5% interest rate over 25 years, a £500,000 repayment mortgage costs £2,923 a month — £876,885 repaid in total over the term. At 4% the same mortgage is £2,639 a month, and stretching to 30 years at 5% lowers the payment to £2,684.
How does the term length change the cost?
Longer terms cut the monthly payment but increase the total interest dramatically. On £500,000 at 5%, a 15-year term costs £3,954 a month (£711,714 total), while a 35-year term costs £2,523 a month but £1,059,844 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.