How much would I pay on a £400,000 mortgage?

Repayments, total interest and amortisation to borrow with confidence. Rates starting from 4.13%.

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Sep 29, 2022

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Name	Product	Initial rate	Revert rate (SVR)	Maximum LTV	Cashback	Apply link	Initial payment
CASHBACK Lloyds Bank 31/08/2029 Fixed Lloyds Bank 31/08/2029 Fixed First-time buyerHome mover	CASHBACK	4.13% fixed until 31/08/2029	8.74% variable	60%		Check eligibility View details	£2,732.25 6.6% APRC	loading Fetching your data...
NatWest 31/08/2029 Fixed NatWest 31/08/2029 Fixed Remortgaging		4.18% fixed until 31/08/2029	8.24% variable	60%		Check eligibility View details	£2,742.55 6.3% APRC	loading Fetching your data...
NatWest 31/08/2029 Fixed NatWest 31/08/2029 Fixed First-time buyerHome mover		4.19% fixed until 31/08/2029	8.24% variable	60%		Check eligibility View details	£2,744.61 6.3% APRC	loading Fetching your data...
NatWest 31/08/2029 Fixed NatWest 31/08/2029 Fixed First-time buyerHome mover		4.19% fixed until 31/08/2029	8.24% variable	60%		Check eligibility View details	£2,744.61 6.3% APRC	loading Fetching your data...
Royal Bank of Scotland 31/08/2029 Fixed Royal Bank of Scotland 31/08/2029 Fixed First-time buyerHome mover		4.19% fixed until 31/08/2029	8.24% variable	60%		Check eligibility View details	£2,744.61 6.3% APRC	loading Fetching your data...
Nationwide Building Society 5 Years Fixed Nationwide Building Society 5 Years Fixed Home mover		4.19% fixed for 5 years	7.99% variable	60%		Check eligibility View details	£2,744.61 6.2% APRC	loading Fetching your data...
Santander 02/09/2029 Fixed Santander 02/09/2029 Fixed First-time buyerHome mover		4.22% fixed until 02/09/2029	7.5% variable	60%		Check eligibility View details	£2,750.80 5.8% APRC	loading Fetching your data...
CASHBACK Lloyds Bank 31/08/2029 Fixed Lloyds Bank 31/08/2029 Fixed Remortgaging	CASHBACK	4.23% fixed until 31/08/2029	8.74% variable	60%		Check eligibility View details	£2,752.87 6.7% APRC	loading Fetching your data...
NatWest 31/08/2029 Fixed NatWest 31/08/2029 Fixed First-time buyerHome mover		4.24% fixed until 31/08/2029	8.24% variable	60%		Check eligibility View details	£2,754.94 6.3% APRC	loading Fetching your data...
Royal Bank of Scotland 31/08/2029 Fixed Royal Bank of Scotland 31/08/2029 Fixed First-time buyerHome mover		4.24% fixed until 31/08/2029	8.24% variable	60%		Check eligibility View details	£2,754.94 6.3% APRC	loading Fetching your data...
CASHBACK Lloyds Bank 31/08/2029 Fixed Lloyds Bank 31/08/2029 Fixed First-time buyerHome mover	CASHBACK	4.24% fixed until 31/08/2029	8.74% variable	60%		Check eligibility View details	£2,754.94 6.7% APRC	loading Fetching your data...
Royal Bank of Scotland 31/08/2029 Fixed Royal Bank of Scotland 31/08/2029 Fixed Remortgaging		4.28% fixed until 31/08/2029	8.24% variable	60%		Check eligibility View details	£2,763.21 6.3% APRC	loading Fetching your data...
NatWest 31/08/2029 Fixed NatWest 31/08/2029 Fixed Remortgaging		4.28% fixed until 31/08/2029	8.24% variable	60%		Check eligibility View details	£2,763.21 6.3% APRC	loading Fetching your data...
TSB 30/06/2029 Fixed TSB 30/06/2029 Fixed Home mover		4.29% fixed until 30/06/2029	8.74% variable	60%		Check eligibility View details	£2,765.28 6.7% APRC	loading Fetching your data...
CASHBACK Nationwide Building Society 5 Years Fixed Nationwide Building Society 5 Years Fixed Remortgaging	CASHBACK	4.29% fixed for 5 years	7.99% variable	60%	Eligible customers can receive up to £500 cashback on completion. T&Cs apply.	Check eligibility View details	£2,765.28 6.2% APRC	loading Fetching your data...
TSB 30/06/2029 Fixed TSB 30/06/2029 Fixed First-time buyer		4.29% fixed until 30/06/2029	7.74% variable	60%		Check eligibility View details	£2,765.28 6% APRC	loading Fetching your data...
CASHBACK Nationwide Building Society 5 Years Fixed Nationwide Building Society 5 Years Fixed First-time buyer	CASHBACK	4.29% fixed for 5 years	7.99% variable	60%	Eligible customers can receive up to £500 cashback on completion. T&Cs apply.	Check eligibility View details	£2,765.28 6.2% APRC	loading Fetching your data...
CASHBACK Nationwide Building Society 5 Years Fixed Nationwide Building Society 5 Years Fixed First-time buyer	CASHBACK	4.29% fixed for 5 years	7.99% variable	60%	Eligible customers can receive up to £500 cashback on completion. T&Cs apply.	Check eligibility View details	£2,765.28 6.2% APRC	loading Fetching your data...
CASHBACK Santander 02/09/2029 Fixed Santander 02/09/2029 Fixed Remortgaging	CASHBACK	4.3% fixed until 02/09/2029	7.5% variable	60%	Eligible customers can receive up to £250 cashback on completion. T&Cs apply.	Check eligibility View details	£2,767.36 5.8% APRC	loading Fetching your data...
CASHBACK Halifax 31/08/2029 Fixed Halifax 31/08/2029 Fixed First-time buyer	CASHBACK	4.31% fixed until 31/08/2029	8.74% variable	60%	Eligible customers can receive up to £500 cashback on completion. T&Cs apply.	Check eligibility View details	£2,769.43 6.7% APRC	loading Fetching your data...

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If you’re ready to buy a home, you might wonder how to budget for your target home cost. Here’s a breakdown of what you might face monthly, in interest and over the life of a £400,000 mortgage.

Monthly payments on a £400,000 mortgage

At a 4% fixed interest rate, your monthly mortgage payment on a 30-year mortgage might total £1,909.66 a month, while a 15-year term might cost £2,958.75 a month.

Note that your monthly mortgage payments will vary depending on your interest rate, taxes and PMI, among related fees.

Interest	Mortgage term	Monthly payments
3.0%	15 years	£2,762.33
3.0%	30 years	£1,686.42
3.25%	15 years	£2,810.68
3.25%	30 years	£1,740.83
3.5%	15 years	£2,859.53
3.5%	30 years	£1,796.18
3.75%	15 years	£2,908.89
3.75%	30 years	£1,852.46
4.0%	15 years	£2,958.75
4.0%	30 years	£1,909.66
4.25%	15 years	£3,009.11
4.25%	30 years	£1,967.76
4.5%	15 years	£3,059.97
4.5%	30 years	£2,026.74
4.75%	15 years	£3,111.33
4.75%	30 years	£2,086.59
5.0%	15 years	£3,163.17
5.0%	30 years	£2,147.29
5.25%	15 years	£3,215.51
5.25%	30 years	£2,208.81
5.5%	15 years	£3,268.33
5.5%	30 years	£2,271.16

Your total interest on a £400,000 mortgage

On a 30-year mortgage with a 4% fixed interest rate, you’ll pay £287,478.41 in interest over the life of your loan. That’s about two-thirds of what you borrowed in interest.

If you instead opt for a 15-year mortgage, you’ll pay £132,575.49 in interest over the life of your loan – or about half of the interest you’d pay on a 30-year mortgage.

Interest	Mortgage term	Total interest charged
3.0%	15 years	£97,218.59
3.0%	30 years	£207,108.76
3.25%	15 years	£105,921.26
3.25%	30 years	£226,695.87
3.5%	15 years	£114,715.50
3.5%	30 years	£246,624.06
3.75%	15 years	£123,600.12
3.75%	30 years	£266,887.08
4.0%	15 years	£132,575.49
4.0%	30 years	£287,478.41
4.25%	15 years	£141,640.72
4.25%	30 years	£308,393.36
4.5%	15 years	£150,795.32
4.5%	30 years	£329,627.21
4.75%	15 years	£160,038.69
4.75%	30 years	£351,171.80
5.0%	15 years	£169,371.80
5.0%	30 years	£373,021.33
5.25%	15 years	£178,792.01
5.25%	30 years	£395,175.65
5.5%	15 years	£188,300.49
5.5%	30 years	£417,614.29

What is the total amount repayable?

When you take out a mortgage, you agree to pay the principal and interest over an agreed timeframe. Your interest rate is applied to your balance, and as you pay down your balance, the amount you pay in interest changes.

This means that at the beginning of your mortgage, a big percentage of your payment is applied to interest. With each subsequent payment, you pay more toward your balance.

Estimate your monthly repayments on a £400,000 mortgage at 4% fixed interest with our total amount repayable schedule over 15 and 30 years.

15-year term
30-year term

Year	Beginning balance	Monthly payment	Total interest paid	Total principal paid	Total payed throught the year	Remaining balance
1	£400,000.00	£2,958.75	£15,638.40	£19,866.60	£35,505.00	£380,133.40
2	£380,133.40	£2,958.75	£14,829.00	£20,676.00	£35,505.00	£359,457.40
3	£359,457.40	£2,958.75	£13,986.63	£21,518.37	£35,505.00	£337,939.03
4	£337,939.03	£2,958.75	£13,109.95	£22,395.05	£35,505.00	£315,543.98
5	£315,543.98	£2,958.75	£12,197.55	£23,307.45	£35,505.00	£292,236.53
6	£292,236.53	£2,958.75	£11,247.97	£24,257.03	£35,505.00	£267,979.50
7	£267,979.50	£2,958.75	£10,259.69	£25,245.31	£35,505.00	£242,734.19
8	£242,734.19	£2,958.75	£10,259.69	£26,273.83	£35,505.00	£216,460.36
9	£216,460.36	£2,958.75	£8,160.72	£27,344.28	£35,505.00	£189,116.08
10	£189,116.08	£2,958.75	£7,046.69	£28,458.31	£35,505.00	£160,657.77
11	£160,657.77	£2,958.75	£5,887.24	£29,617.76	£35,505.00	£131,040.01
12	£131,040.01	£2,958.75	£4,680.56	£30,824.44	£35,505.00	£100,215.57
13	£100,215.57	£2,958.75	£3,424.71	£32,080.29	£35,505.00	£68,135.28
14	£68,135.28	£2,958.75	£2,117.74	£33,387.26	£35,505.00	£34,748.02
15	£34,748.02	£2,958.75	£757.47	£34,748.02	£35,505.49	£0.00

Year	Beginning balance	Monthly payment	Total interest paid	Total principal paid	Total payed throught the year	Remaining balance
1	£400,000.00	£1,909.66	£15,871.77	£7,044.15	£22,915.92	£392,955.853
2	£392,955.85	£1,909.66	£15,584.81	£7,331.11	£20,051.40	£385,624.74
3	£385,624.74	£1,909.66	£15,286.11	£7,629.81	£20,051.40	£377,994.93
4	£377,994.93	£1,909.66	£14,975.25	£7,940.67	£20,051.40	£370,054.26
5	£370,054.26	£1,909.66	£14,651.74	£8,264.18	£20,051.40	£361,790.08
6	£361,790.08	£1,909.66	£14,315.07	£8,600.85	£20,051.40	£353,189.23
7	£353,189.23	£1,909.66	£13,964.66	£8,951.26	£20,051.40	£344,237.97
8	£344,237.97	£1,909.66	£13,599.97	£9,315.95	£20,051.40	£334,922.02
9	£334,922.02	£1,909.66	£13,220.41	£9,695.51	£20,051.40	£325,226.51
10	£325,226.51	£1,909.66	£12,825.42	£10,090.50	£20,051.40	£315,136.01
11	£315,136.01	£1,909.66	£12,414.30	£10,501.62	£20,051.40	£304,634.39
12	£304,634.39	£1,909.66	£11,986.45	£10,929.47	£20,051.40	£293,704.92
13	£293,704.92	£1,909.66	£11,541.17	£11,374.75	£20,051.40	£282,330.17
14	£282,330.17	£1,909.66	£11,077.73	£11,838.19	£20,051.40	£270,491.98
15	£270,491.98	£1,909.66	£10,595.43	£12,320.49	£20,051.40	£258,171.49
16	£258,171.49	£1,909.66	£10,093.48	£12,822.44	£20,051.40	£245,349.05
17	£245,349.05	£1,909.66	£9,571.08	£13,344.84	£20,051.40	£232,004.21
18	£232,004.21	£1,909.66	£9,027.39	£13,888.53	£20,051.40	£218,115.68
19	£218,115.68	£1,909.66	£8,461.56	£14,454.36	£20,051.40	£203,661.32
20	£203,661.32	£1,909.66	£7,872.63	£15,043.29	£20,051.40	£188,618.03
21	£188,618.03	£1,909.66	£7,259.76	£15,656.16	£20,051.40	£172,961.87
22	£172,961.87	£1,909.66	£6,621.91	£16,294.01	£20,051.40	£156,667.86
23	£156,667.86	£1,909.66	£5,958.07	£16,957.85	£20,051.40	£139,710.01
24	£139,710.01	£1,909.66	£5,267.17	£17,648.75	£20,051.40	£122,061.26
25	£122,061.26	£1,909.66	£4,548.13	£18,367.79	£20,051.40	£103,693.47
26	£103,693.47	£1,909.66	£3,799.78	£19,116.14	£20,051.40	£84,577.33
27	£84,577.33	£1,909.66	£3,020.98	£19,894.94	£20,051.40	£64,682.39
28	£64,682.39	£1,909.66	£2,210.42	£20,705.50	£20,051.40	£43,976.89
29	£43,976.89	£1,909.66	£1,366.86	£21,549.06	£20,051.40	£22,427.83
30	£22,427.83	£1,909.66	£488.90	£22,427.83	£22,916.73	£0.00

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Matthew Boyle

Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife.

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How much would I pay on a £400,000 mortgage?

Repayments, total interest and amortisation to borrow with confidence. Rates starting from 4.13%.

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Monthly payments on a £400,000 mortgage

See your monthly payments by interest rate.

Your total interest on a £400,000 mortgage

See how much you'd pay in total interest based on the interest rate.

What is the total amount repayable?

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