United Kingdom
United Kingdom amortization calculator
A year-by-year breakdown of how each payment splits between interest and principal, and how the balance falls over time.
Your mortgage
Year-by-year breakdown
Total interest: £347,515 · Paid off August 2056
Early on, most of each payment is interest; the balance falls slowly at first, then faster. That's the shape of every amortizing mortgage.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | £3,684 | £17,900 | £296,316 |
| 2 | £3,911 | £17,673 | £292,405 |
| 3 | £4,152 | £17,431 | £288,252 |
| 4 | £4,409 | £17,175 | £283,844 |
| 5 | £4,681 | £16,903 | £279,163 |
| 6 | £4,969 | £16,615 | £274,194 |
| 7 | £5,276 | £16,308 | £268,918 |
| 8 | £5,601 | £15,983 | £263,317 |
| 9 | £5,947 | £15,637 | £257,371 |
| 10 | £6,313 | £15,270 | £251,057 |
| 11 | £6,703 | £14,881 | £244,354 |
| 12 | £7,116 | £14,468 | £237,238 |
| 13 | £7,555 | £14,029 | £229,683 |
| 14 | £8,021 | £13,563 | £221,662 |
| 15 | £8,516 | £13,068 | £213,147 |
| 16 | £9,041 | £12,543 | £204,106 |
| 17 | £9,599 | £11,985 | £194,507 |
| 18 | £10,191 | £11,393 | £184,316 |
| 19 | £10,819 | £10,765 | £173,497 |
| 20 | £11,486 | £10,097 | £162,011 |
| 21 | £12,195 | £9,389 | £149,816 |
| 22 | £12,947 | £8,637 | £136,869 |
| 23 | £13,746 | £7,838 | £123,123 |
| 24 | £14,593 | £6,990 | £108,530 |
| 25 | £15,494 | £6,090 | £93,036 |
| 26 | £16,449 | £5,135 | £76,587 |
| 27 | £17,464 | £4,120 | £59,124 |
| 28 | £18,541 | £3,043 | £40,583 |
| 29 | £19,684 | £1,899 | £20,898 |
| 30 | £20,898 | £685 | £0 |
An estimate for planning — not financial advice. Principal & interest only; property tax, insurance and any fees are separate.
A UK amortisation schedule shows how a repayment mortgage clears over its term: identical monthly payments, but a shifting split from mostly-interest early on to mostly-capital later. This calculator sets out the year-by-year balance and the total interest across the term.
How this calculator works
Interest is charged on the outstanding balance each month; the remainder of your payment repays capital. Because the balance is highest at the start, so is the interest share.
UK borrowers usually remortgage every few years, but the underlying amortisation assumes the rate holds for the term — useful for seeing the long-run cost of a given rate.
A shorter term means higher payments but far less total interest; the schedule makes that trade-off concrete.
A worked example
A £225,000 repayment loan at a 6.5% example rate over 25 years — year one:
- Monthly repayment
- £1,519/mo
- Interest paid in year 1
- £14,516
- Capital repaid in year 1
- £3,715
- Total interest over 25 years
- £230,765
Remortgaging to a lower rate part-way through resets this — the schedule shows the cost of holding one rate.
Who it's for
- You want to see how a repayment mortgage clears.
- You're comparing 25- and 30-year terms.
- You want the long-run interest cost of a rate.
Frequently asked questions
What is a UK amortisation schedule?
A breakdown of how a repayment mortgage's monthly payments divide between interest and capital over the term, and how the balance falls each year.
Why do I pay more interest in the early years?
Interest is charged on the outstanding balance, which is largest at the start, so early payments are mostly interest and later ones mostly capital.
How much interest will I pay over the term?
It depends on the rate and term length — the example above shows a £225,000 loan at 6.5% over 25 years.
Does remortgaging change the schedule?
Yes — switching to a new rate resets the calculation from your current balance. The schedule here assumes a single rate for the full term.