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Pete Mugleston

Author: Pete Mugleston - Mortgage Advisor, MD

Updated: May 3, 2022

If you want to borrow £30,000 but you’re not sure how much it will cost you overall, then our mortgage repayment calculator below should help answer your questions.

calculator icon

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
years

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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Example calculations

We have devised these repayment tables so that the monthly costs for different rates and terms on a £30,000 mortgage loan are displayed, with £1000 increments (for example if you wanted to look at 25k mortgages).

The rates range from 1% to 5% and the terms range from 15 to 30 years to help you compare £30000 mortgage repayments.

1% 15yr 20yr 25yr 30yr
30000 £179.55 £137.97 £113.06 £96.49
31000 £185.53 £142.57 £116.83 £99.71
32000 £191.52 £147.17 £120.60 £102.92
33000 £197.50 £151.77 £124.37 £106.14
34000 £203.49 £156.36 £128.14 £109.36
35000 £209.47 £160.96 £131.91 £112.57
36000 £215.46 £165.56 £135.67 £115.79
37000 £221.44 £170.16 £139.44 £119.01
38000 £139.44 £174.76 £143.21 £122.22
39000 £233.41 £179.36 £146.98 £125.44
2% 15yr 20yr 25yr 30yr
30000 £193.05 £151.77 £127.16 £110.89
31000 £199.49 £156.82 £131.39 £114.58
32000 £205.92 £161.88 £135.63 £118.28
33000 £212.36 £166.94 £139.87 £121.97
34000 £218.79 £172.00 £144.11 £125.67
35000 £225.23 £177.06 £148.35 £129.37
36000 £231.66 £182.12 £152.59 £133.06
37000 £238.10 £187.18 £156.83 £136.76
38000 £244.53 £192.24 £161.06 £140.46
39000 £250.97 £197.29 £165.30 £144.15
3% 15yr 20yr 25yr 30yr
30000 £207.17 £166.38 £142.26 £126.48
31000 £214.08 £214.08 £147.01 £130.70
32000 £220.99 £177.47 £151.75 £134.91
33000 £227.89 £183.02 £156.49 £139.13
34000 £234.80 £188.56 £161.23 £143.35
35000 £241.70 £194.11 £165.97 £147.56
36000 £248.61 £199.66 £170.72 £151.78
37000 £255.52 £205.20 £175.46 £155.99
38000 £262.42 £210.75 £180.20 £160.21
39000 £269.33 £216.29 £184.94 £164.43
4% 15yr 20yr 25yr 30yr
30000 £221.91 £181.79 £158.35 £143.22
31000 £229.30 £187.85 £163.63 £148.00
32000 £236.70 £193.91 £168.91 £152.77
33000 £244.10 £199.97 £174.19 £157.55
34000 £251.49 £206.03 £179.46 £162.32
35000 £258.89 £212.09 £184.74 £167.10
36000 £266.29 £218.15 £190.02 £171.87
37000 £273.68 £224.21 £195.30 £176.64
38000 £281.08 £230.27 £200.58 £181.42
39000 £288.48 £236.33 £205.86 £186.19
5% 15yr 20yr 25yr 30yr
30000 £237.24 £197.99 £175.38 £161.05
31000 £245.15 £204.59 £181.22 £166.41
32000 £253.05 £211.19 £187.07 £171.78
33000 £260.96 £217.79 £192.91 £177.15
34000 £268.87 £224.38 £198.76 £182.52
35000 £276.78 £230.98 £204.61 £187.89
36000 £284.69 £237.58 £210.45 £193.26
37000 £292.59 £244.18 £216.30 £198.62
38000 £300.50 £250.78 £222.14 £203.99
39000 £308.41 £257.38 £227.99 £209.36

Our tables are simply examples and not definite figures, therefore you may be able to find a more convenient rate or term on a mortgage for £30,000 to suit your needs.

Could I borrow £30k on a personal loan?

If you are looking to borrow £30,000 or an amount similar in the lower range of the 30’s, then a personal loan may be a better option.

A 10k loan could help if you can’t quite secure £30,000 mortgage payments through a bank for example. This would lower the amount you need to borrow from a lender, in this case a 10k personal loan would reduce the required mortgage amount to £20,000. The lender would see there to be less risk involved in providing a mortgage at a lower amount, therefore increasing your chances of getting a mortgage.

How many times my salary can I borrow?

Depending on your circumstances, you could borrow between 4-4.5 times your salary or even higher, though this varies from lender-to-lender. While some mortgage lenders use income multiples to work out how much they could lend you, others prefer to make an assessment based on your application.

Your overall affordability could be affected by other factors, including the amount of deposit you have, your credit rating, your outgoings, age and employment type.

If you’re only after a smaller mortgage or loan, however, income multiples may not be a factor. Make an enquiry to speak with an expert advisor.

What’s the minimum loan amount I can borrow for a mortgage?

Many lenders set the bar at £25,000, though there are others who will lend smaller amounts. If you’re looking to raise funds for a renovation, purchase a house at auction or if you wish to move into a more expensive property and need a small mortgage to bridge the gap, there may be other lending options available for you. Speak with an advisor for more information.

Speak with an expert

If you’re ready to make an application or if you just have an enquiry, please fill out our quick form and an expert will be in touch ASAP. If you require help immediate assistance please call 0808 189 2301.

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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