Higher chance of approval 
Repayments on a £90,000 Mortgage
Find out what the monthly repayments could be on a £90,000 mortgage and what factors can influence this amount.
No impact on credit score
4.8 out of 5 stars across Trustpilot, Feefo and Google! Our customers love Online Mortgage Advisor
Author: Pete Mugleston - Mortgage Advisor, MD
Reviewed By: Nathan Porter - Independent Mortgage Advisor
If you’re looking to take out a mortgage for £90,000, you’ll want to know in advance what the monthly repayments on a loan of this size will look like.
Keep reading to use our mortgage repayment calculator, see further repayment examples or click on a link below to head straight to a section of your choice…
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.
Monthly Repayments:
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.
How much does a £90,000 mortgage cost per month?
As an example, based on a standard repayment mortgage with a typical interest rate currently (October 2023) of 5.5% and a term length of 25 years, you should expect to pay £553 per month for this specific amount.
However, the monthly repayments on a mortgage – regardless of how much you want to borrow – can vary depending on the following key factors:
Securing the lowest rate possible is always the most preferred outcome, particularly if you’re working to a strict monthly budget. A £90,000 mortgage repayment mortgage, over 25 years, based on an interest rate of 6% would mean monthly repayments of £580. However, if you were able to secure a lower rate of 5.25% then those repayments would be £539 per month.
The best way to qualify for the lowest rates is to have a strong, clean application and a larger deposit. It also helps having a mortgage broker working on your behalf so you know they are looking across the whole market to find the most competitive deals.
Opting to repay the £90,000 over a longer period of time, for example 40 years, will reduce the repayment burden each month. But, this also means you’ll pay more interest back overall.
The key is to find the optimum term without over stretching yourself on the repayments – don’t pay any longer than is necessary. Take a look at the example calculations below, along with our repayment calculator to see how different terms can affect how much you pay each month.
When it comes to securing a mortgage of any size, you’ll have some decisions to make and these will be reflected in your repayments. For example, opting for a fixed rate mortgage can mean slightly higher interest but that comes with consistency whereas a tracker interest rate will see the monthly amount fluctuate depending on a particular market index.
You’ll also have to decide on whether to opt for an interest-only mortgage or a capital repayment model. Selecting interest-only will mean lower repayments as the full loan is repaid at the end of the term, but to qualify for this a lender would require evidence that shows you have a way of paying back the loan as a lump sum at that later date. Capital repayment combines both interest and repayment of the loan, increasing the monthly cost but ensuring the loan is fully repaid by the end of the term.
Speak to an expert broker
Maximise your chance of approval with a dedicated specialist broker
Example calculations
To show how some of these variables can impact the amount paid back each month on a £90,000 mortgage, read the table below. It considers interest rates between 2.5% and 6% as well as multiple mortgage term lengths.
| Interest rate | 2.5% | 3% | 4% | 5% | 6% |
|---|---|---|---|---|---|
| 15 years | £600 | £622 | £666 | £712 | £759 |
| 20 years | £477 | £499 | £545 | £594 | £645 |
| 25 years | £404 | £427 | £475 | £526 | £580 |
| 30 years | £356 | £379 | £430 | £483 | £540 |
| 35 years | £322 | £346 | £398 | £454 | £513 |
For an interest-only mortgage you can expect repayments to be substantially lower and remain the same regardless of the term length. This is because the capital amount borrowed must be repaid in full, using a separate repayment vehicle, at the end of the term.
| Interest-only | 2.5% | 3% | 4% | 5% | 6% |
|---|---|---|---|---|---|
| £188 | £225 | £300 | £375 | £450 |
For the purpose of these tables we are assuming the interest rate stays the same for the entire length of the mortgage. Interest rates can change if you decide to remortgage to a different rate or move from either a fixed or discounted deal on to the lender’s standard variable rate (SVR).
With the Bank of England base rate currently at 5.25% (October 2023) and the average mortgage rates between 5%-6%, the repayment figures for these columns in the tables would be the most realistic at present. However, as the base rate comes back down in the future then mortgage lenders should follow suit and reduce their rates too.
Absolute Fab: I got a mortgage as an ex-bankrupt !!!
As an ex-bankrupt with a qualified Annulment I had to take several bridging loans to cover my debt. I found Online Mortgage Advisor who offered fantastic but specific insight to my issues. Within 6 weeks we exchanged contracts and I am now debt-free, and my house is safe.
S Bakht
They pulled out all the stops
Great staff and good communication. Helped us understand the process and gone over and above to help in a difficult situation. Other companies couldn't even be bothered but Thank you so much!
Anneke Woolley, 12 days ago
Our advisor was amazing from the start!
Aaron went above and beyond. He worked late and kept in contact with me and worked tirelessly to find me the best mortgage he could
James, 10 days ago
Rated 4.8 out of 5 stars across Trustpilot, Feefo and Google
How a mortgage broker can help
Once you’ve found a property and made some calculations, your next step should be to find a mortgage broker with experience in arranging mortgages of this amount as this will boost your chances of getting approved at the best terms available.
Using our free broker-matching service you can speak straight away to the right broker by simply making an enquiry online.
They’ll be able to help with:
- Working out how much you can borrow. You may have set your sights on a £90,000 mortgage, but do you definitely know you can borrow that amount? A mortgage broker, using typical lender salary multiplier calculations, will be able to quickly work this out for you.
- Deposit requirements. Your broker will be able to outline what deposit most lenders would require for this size of mortgage.
- Downloading and optimising your credit reports. It’s important to review your credit history before you apply for a mortgage, checking for any inaccuracies or outdated information that can be removed beforehand.
- Finding the right lender and securing the best deal for you. Your mortgage broker will be able to identify those lenders offering the best interest rate terms available across the whole market. This will save you time and, potentially, some money too.
- Gathering all the necessary paperwork required for your application. Your broker will be able to guide you through the application process and all the typical documents required – proof of income, recent bank statements, personal ID etc.
The other costs involved
When trying to decide how much a £90,000 mortgage is going to cost, it’s important not to forget other payments involved in the mortgage process and to factor those into your budget. Not all mortgages will come with all of the below fees but whether a lender waives certain ones is at their discretion.
| Fee | Description | Who to pay | Cost | How to pay |
|---|---|---|---|---|
| Arrangement fee | Covers the cost of setting up and arranging the mortgage. | The lender | £0 to £2,000+ | Paid upfront or monthly addition to mortgage repayment |
| Booking fee | Pays for the submission of the mortgage application. | The lender | £100 to £250 | Paid upfront (Can be rolled into the arrangement fee or be a separate charge). |
| Valuation survey fee | Funds the assessment of the property to value its worth. | The lender | £200 to £1,000 | Paid upfront |
| Home buyers report | Covers a thorough assessment of the property’s worth as well as its condition. | Surveyor | £400 to £2000+ depending on level of survey | Paid upfront |
| Stamp duty | A government tax paid on properties over £250,000. | HMRC | 0 to 15% of a property’s value depending on what you’re using the property for | Paid upfront |
| Conveyancing fee | Covers the cost of the legal paperwork. | The solicitor | £850 to £1500 | Partial payment upfront |
| Broker Fee | Pays for expert guidance and assistance in securing a mortgage. | The broker | Depends on mortgage size (typically up to 1% or a fixed fee of between £500-£1,000) | Can discuss with a broker |
| Deposit | Equates to typically 10% or more of the property’s value. | The seller | Typically 10% of property’s value | Paid upfront |
Get matched with the right mortgage broker
To walk away from your mortgage process confident that you’ve got the best deal possible, you need to partner with an experienced broker; and not just any experienced broker but one who works with mortgages of this size on a daily basis.
They will know what rates and terms are typical, where repayments are likely to land for individual circumstances and which lenders offer the best chance of approval. All of this will help you submit a stronger application to a lender more likely to offer you the terms and rates you want to see.
The brokers we work with span the mortgage spectrum but by simply filling out our online form or calling 0808 189 2301, you’ll be matched to the right expert in this field.
Speak to an expert broker
Maximise your chance of approval with a dedicated specialist broker