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£180,000 Mortgages and the Monthly Repayments

Calculate your monthly repayments on a £180,000 mortgage and find out how to secure the best deal

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Pete Mugleston

Author: Pete Mugleston - Mortgage Advisor, MD

Updated: June 28, 2022

Do you want to take out a £180,000 mortgage, but aren’t sure if you can afford the repayments?

Try our mortgage calculator below to get an idea of the amount you’d have to pay out each month.

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Mortgage Repayment Calculator

Our mortgage repayment calculator can tell you how much your mortgage will cost you each month and overall. Enter the amount you’re borrowing, the term length and interest rate, and our calculator will do the rest.

Enter the amount you're borrowing
2.5% is an average figure but the rate you get may vary
25 years is average, but most lenders offer longer and shorter terms

Monthly Repayments:

Interest Only:

Total amount paid at end of term:

Get started with an expert broker to find out how much they could help you save on your mortgage repayments.

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Now that you’ve crunched some numbers, this article should help to give you a good idea of the overall cost of repayments on a 180k mortgage, an overview of factors that can affect the amount of deposit you’re likely to need, as well as how to go about getting access to the best interest rates and deals.

Example calculations

The table below shows the approximate monthly repayments on a £180,000 mortgage at various interest rates being applied to different mortgage terms.

Interest Rate 1% 2% 3% 4% 5%
5 Years £3,077 £3,155 £3,234 £3,315 £3,397
10 Years £1,577 £1,656 £1,738 £1,822 £1,909
15 Years £1,077 £1,158 £1,243 £1,331 £1,423
20 Years £828 £911 £998 £1,091 £1,188
25 Years £678 £763 £854 £950 £1,052
30 Years £579 £665 £759 £859 £966
35 Years £508 £596 £693 £797 £908
Interest Only £150 £300 £450 £600 £750

How does the term length affect mortgage repayments on £180k?

As you can see from the table, the period of time over which the mortgage is repaid (‘the term’) plays a key role in determining the monthly payment on your £180,000 mortgage. The reason for this is pretty straightforward: a longer-term allows more time to spread out the repayments, so each individual payment ends up being smaller.

For example, if we assume a 2% interest rate, a £180k mortgage over 30 years results in a monthly repayment of approximately £665, whereas the same loan amount spread over 5 years would be substantially higher at £3,155.

Interest Rate 1% 2% 3% 4% 5%
180k Mortgage Cost (Monthly) £150 £300 £450 £600 £750

One of the main factors in deciding the length of the mortgage term is the borrower’s age, so if you’re still a long way from retirement you’ll usually have the option of stretching out your mortgage over a longer term than someone who is nearing it. However, there is a trade-off to consider here, since a longer mortgage term can mean paying much more interest over the lifetime of the loan.

What income is needed for a £180k mortgage?

This will again depend on your specific circumstances such as employment type and age, all of which affect the types of products and interest rates you’re eligible for, along with the size of deposit you plan to put down – so there is no single answer without first having a good idea of these variables.

To get a rough idea of necessary income, it’s worth noting that most mortgage providers lend approximately 4, sometimes 4.5 times your salary (or household income if it’s a joint application) but this comes with caveats and will depend on factors such as market conditions, the lender’s policies and of course your own circumstances such as employment type and age.

Other mortgage providers cap their lending at x5 the borrower’s salary and a minority will stretch to x6, under the right circumstances.

How much deposit is needed for a £180k mortgage?

The deposit you’ll pay on £180k will depend on several factors including the lender’s policy and your individual circumstances, such as credit record and whether or not you own any existing property. To an extent, it will also be determined by your own priorities, as putting down a higher deposit means you’ll own more of the property outright, which will generally result in a lower interest rate and lower monthly repayments.

How does loan-to-value (LTV) affect payments on a £180k mortgage?

The portion of the property you own outright versus the loan amount you intend to borrow is known as the loan-to-value (LTV) ratio. For example, if you’re buying a house valued at £180k and put down a 10% deposit of £18,000, you own 10% of the property and need to borrow £162,000 – this can be expressed as an LTV of 90%.

When searching for a mortgage you’ll find that most lenders offer up to 85% loan-to-value (i.e. they require a deposit of 15% or more) but some offer 90% and a few can go up to 95% under the right conditions. The lowest possible deposit on a £180,000 loan would therefore be around £9,000 (95% LTV), but you would typically expect to pay at least 15% or £27,000 depending on your risk profile, and you may want to stretch to 20% or more to get the best deals.

How is my monthly mortgage repayment calculated?

Most lenders and some banks, as well as personal finance sites, will have a mortgage calculator that you can use to estimate your likely repayments on a £180k mortgage. This will only provide a rough estimate of the true costs, however, and we would always advise speaking with an expert who will be better placed to give you a more accurate idea of the cost based on your unique circumstances.

If you’re looking for an online tool that can give you a rough idea of the £180k mortgage deals on offer, see our guide to online mortgage calculators for more information.

How much are interest-only repayments on £180k?

It’s usually more straightforward to calculate this amount, because as long as you know the interest rate, the monthly figures should be the same regardless of the length of the term: see the above table for examples of monthly interest only payments on £180k at typical current rates.

How do I qualify for an interest-only mortgage on £180,000?

Most lenders impose stricter criteria for interest only mortgages, and you may find that you need a bigger deposit for an £180k interest only mortgage than you might do on an equivalent repayment product. Most lenders insist on a deposit of 25% or more (75% LTV), while others go up to 80% LTV and fewer still can go to 85% in the right circumstances.

You will also need to prove to the lender that you have a viable repayment vehicle in place to repay the loan balance at the end of the term.

There are pros and cons to interest only mortgages, and while some borrowers prefer the low monthly payments that come with interest only, others prefer the certainty of knowing that they are chipping away at the size of their loan with each repayment. The decision will depend on your preference and circumstances.


It’s helpful to get expert advice when applying for a mortgage as specialist brokers have access to more lenders, therefore could present you with more options and even better deals.

Can I take out a £180k mortgage with bad credit?

If you have a less than spotless credit record, you may be worried about how this could affect your application for a £180,000 mortgage. While this is likely to restrict the number of deals you can access, the good news is that there are lenders that will still consider your mortgage application even with some adverse events on your file.

Any one or more of these ‘adverse’ events will raise your overall risk profile from a lender’s perspective, and may affect any offer they make you, particularly if you have multiple credit issues or a history of any of the more ‘serious’ events.

If, for example, you have a few instances of late or missed payments but your record is otherwise clean, more lenders will still consider your application and may even give you access to the most favourable deals.

If you have multiple issues or any of the more serious types of bad credit such as bankruptcy and/or repossession however, fewer lenders will consider your application overall and those who do are likely to insist on a higher deposit and interest rate.

Let’s take a look at what this could mean in practice for a hypothetical mortgage on a £180k house with an interest rate of 4%:

Applicant’s Risk Level Deposit Required Equal to (£) Mortgage Required Loan to Value (LTV)
Low 5% £9,000 £171,000 95%
Low 10% £18,000 £162,000 90%
Low 15% £27,000 £153,000 85%
Low 20% £36,000 £144,000 80%
Medium 25% £45,000 £135,000 75%
Medium 30% £54,000 £126,000 70%
Medium 35% £63,000 £117,000 65%
Medium 40% £72,000 £99,000 55%
Medium 45% £81,000 £90,000 50%
High 50% £90,000 £90,000 50%

Table is illustrative purposes only and you should always consult your broker or mortgage provider for up-to-date information and rates.

Can I get a £180k mortgage if I’m self-employed?

The simple answer is ‘yes’ – but with a few caveats. Freelancers, contractors and other self-employed customers often contact us for advice on finding a suitable lender, as many still view these types of employment as ‘non-standard’ and it is, therefore, harder for the self-employed to access favourable rates.

You may also find that the application process is a little more complicated, and some lenders will want you to provide three years’ accounts, while a growing number can accept two years’ accounts and a few may even approve your mortgage on the basis of one year’s books.

Fortunately, the specialist advisors we work with have a lot of experience in this area and can help you find the best rates for your £180k self-employed mortgage.

What other factors can affect a £180k mortgage application?

There are various other factors that might have an impact on your £180,000 mortgage application. Here are a few issues to consider:

  • Age: 
    Most lenders cap their upper age limit at 75, some at 85 and a few will lend to a pensioner of any age on standard mortgage products, as long as they’re confident the repayments will be met. If you are due to reach retirement before the end of the mortgage term you will probably need to look into a product that’s geared towards older borrowers, such as a lifetime mortgage.
  • Income type
    As mentioned above, some mortgage lenders prefer the security of borrowers with regular PAYE salaries, as their future income is easier to predict. As a result, it may be easier to get access to the best rates if you’re an employee on this type of salary. But there is a growing market in self employed mortgages, so as long as you can prove sufficient income over a period of 2-3 years or more, you should find a suitable product.
  • Property type
    Are you buying a standard construction house or a property with unusual features such as a thatched roof, timber frame or in a high rise block? All of these ‘non-standard’ characteristics can make a property harder to sell, which means lenders see them as higher risk. For this reason, they are harder to mortgage, and you might find that more lenders turn down your application or insist on a lower LTV.
  • Second or subsequent properties
    If you’re already a homeowner and are looking to expand your portfolio with a second home or buy to let, lenders are likely to see you as posing a bigger risk due to the larger total borrowing. Expect higher rates, lower LTVs and more stringent criteria in general.

Can I get a second charge or secured loan of £180,000?

Second charge mortgages or secured loans are one way to raise large sums against an existing property, without resorting to equity release, remortgages or other methods such as bank loans.

This type of borrowing is usually relatively easy to qualify for if you’re already a homeowner, and the interest rates are lower than those of an unsecured loan. However, they pose more risk to the borrower than the lender, as your property is used as the security.

If you’re looking to take out a second charge mortgage of £180k, we can put you in touch with an advisor with specialist experience in this area.

Can I get a £180,000 buy-to-let mortgage?

We often hear from customers who want to know if they are eligible for a £180k buy-to-let (BTL) mortgage. Most lenders offer BTL mortgages of £180,000 provided you meet the criteria, however the deposits will usually be higher and you can expect to pay higher rates of interest if you’re approved. Monthly repayments on a £180,000 BTL mortgage may still work out lower, however, because they are usually set up on an interest only basis.

In terms of affordability, most buy to let lenders base this on the viability of the investment, i.e. whether the projected rental income will cover the mortgage repayments.

Speak to a mortgage expert today

If you’ve still got some questions about whether you can afford the cost of a £180,000 mortgage make an enquiry, and we’ll be happy to put you in touch with one of the all-of-market advisors we work with.

About the author

Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

Read more about Pete

Pete Mugleston

Mortgage Advisor, MD

FCA disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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