Your mortgage interest rate will determine how much you’ll be charged overall for taking out a loan over the length of a specific term. It will also determine your monthly payments.

Typically, the higher the interest rate and the longer the term, the more you’ll end up paying back overall. For you to gauge how much your payments would increase by, we’ve created five detailed tables with different interest rates, terms, and loan amounts.

Jump straight to our tables section to find out more, use the mortgage repayment calculator here, or read on for a comprehensive overview:

## Mortgage repayment calculator

## What type of mortgage rates are there?

There are two types of mortgage interest rates people can get:

**Fixed-rate mortgage:** Your interest rate stays fixed for a certain period – this can be as little as one year to 10 years. Fixed-rates are often higher than variable rates because you’re paying for the security of knowing how much you’ll have to pay each month.
**Variable rate mortgage:** These follow the Bank of England base rate and are not fixed, meaning that your mortgage payments could vary from month-to-month. They could run from two years or the entire length of your mortgage term.

## How can I get the best monthly interest rates?

In order to get the best deal possible, you will need to make sure you’re able to meet certain conditions set by mortgage lenders in order to qualify for better interest rates. To get started, you can:

Need to get a mortgage quote or looking for more information about how rates work? Get in touch and we’ll match you with an expert shortly.

## How do I use the rates tables below?

Our five rates tables have a range of mortgage term lengths and loan amounts. Just click one of the links below to find what amount you could end up paying back overall:

If at any time you wish to see how much you will repay over a certain number of years, use the mortgage repayment calculator on the right for a detailed graph.