£550,000 Mortgage Repayments (2026)
A £550,000 repayment mortgage at 5% over 25 years costs £3,215 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% | £3,932 | £3,190 | £2,753 | £2,470 | £2,273 |
| 4% | £4,068 | £3,333 | £2,903 | £2,626 | £2,435 |
| 4.5% | £4,207 | £3,480 | £3,057 | £2,787 | £2,603 |
| 5% | £4,349 | £3,630 | £3,215 | £2,953 | £2,776 |
| 5.5% | £4,494 | £3,783 | £3,377 | £3,123 | £2,954 |
| 6% | £4,641 | £3,940 | £3,544 | £3,298 | £3,136 |
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 £550,000 mortgage?
At a 5% interest rate over 25 years, a £550,000 repayment mortgage costs £3,215 a month — £964,574 repaid in total over the term. At 4% the same mortgage is £2,903 a month, and stretching to 30 years at 5% lowers the payment to £2,953.
How does the term length change the cost?
Longer terms cut the monthly payment but increase the total interest dramatically. On £550,000 at 5%, a 15-year term costs £4,349 a month (£782,886 total), while a 35-year term costs £2,776 a month but £1,165,829 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.