£100,000 Mortgage: Monthly Repayments & Income Requirements

Want to know how much a £100,000 mortgage will cost each month and how much you’d need to earn? Read on to find out everything you need to know.

No impact on credit score

4.8 out of 5 stars across Trustpilot, Feefo and Google! Our customers love Online Mortgage Advisor

Pete Mugleston Nathan Porter

Author: Pete Mugleston - Mortgage Advisor, MD

Reviewed By: Nathan Porter - Independent Mortgage Advisor

Updated: November 30, 2023
October 3, 2022

First, use our calculator below to get an idea of how much a mortgage of this amount could cost each month based on different terms and interest rates.

How much does a £100,000 mortgage cost per month?

If you’d like to get more ideas of your potential monthly repayments, using a range of different interest rate examples, just input the amount you’re looking to borrow into our calculator below (so, in this case £100,000), along with an interest rate and preferred term for your mortgage:

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
Enter the mortgage rate, 5.5% is a typical rate currently but this can vary
Enter the mortgage term, 25 years is the average but lenders can offer shorter and longer terms

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.

For purely example purposes, a £100,000 mortgage with a 25 year term and a typical interest rate currently (October 2023) of 5.5% would work out at £614 per month.

However, the exact figure will depend on the interest-rate and mortgage term available from the lender you choose to deal with. Small differences in your personal circumstances, or the options a lender offers, could all have an effect – both directly and indirectly – to the monthly repayment cost on a £100k mortgage.

Maximise your chance of approval with a dedicated specialist broker

Get Started

Ask Us A Question

We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in all different mortgage subjects.

Ask us a question and we'll get the best expert to help.

Feefo 5 Stars
1 of 3
2 of 3
3 of 3 Send!

Example monthly repayments for a £100k mortgage

Below are some examples to give you a quick snapshot of what your payments could be for a mortgage this size, and to illustrate how different elements – namely the interest rate and term – can change the monthly cost.

Interest Rate
2% 3% 4% 5%
Term Length
5 Years £1,751.97 £1,795.07 £1,838.43 £1,882.04
10 Years £919.32 £963.74 £1,009.06 £1,055.24
15 Years £643.51 £690.58 £739.69 £790.79
20 Years £505.88 £554.60 £605.98 £659.96
25 Years £423.85 £474.21 £527.84 £584.59
30 Years £369.62 £421.60 £477.42 £536.82
35 Years £330.33 £382.59 £438.50 £497.63

Monthly repayments for an interest-only mortgage:

Interest Rate
2% 3% 4% 5%
Term Length
5 Years £166.67 £250 £333.33 £416.67
10 Years £166.67 £250 £333.33 £416.67
15 Years £166.67 £250 £333.33 £416.67
20 Years £166.67 £250 £333.33 £416.67
25 Years £166.67 £250 £333.33 £416.67
30 Years £166.67 £250 £333.33 £416.67
35 Years £166.67 £250 £333.33 £416.67

With an interest-only mortgage, the capital you borrow remains constant, rather than reduce steadily throughout the term as it would with a capital and repayment mortgage, and is repaid in full at the end.

So, the interest rate is the most important factor, because the term length – as you can see from the examples above – doesn’t have any bearing on your monthly payments.

For the purpose of these tables, we are assuming the interest rate stays the same for the full length of the mortgage. Interest rates can change if you decide to remortgage on to a different rate or move from either a fixed or discounted deal on to the lender’s standard variable rate (SVR).

We're so confident in our service, we guarantee it.

We know it's important for you to have complete confidence in our service, and trust that you're getting the best chance of mortgage approval at the best available rate. We guarantee to get your mortgage approved where others can't - or we'll give you £100*

Happy approved couple

How much do you need to earn to get a £100k mortgage?

Mortgage lenders typically cap your borrowing at a multiple of your annual income. Most will lend you 4-4.5 times your income, but some will go as high as 5-5.5 times. So, to get a £100,000 mortgage, you’ll need to earn between £18,000 to £25,000.

The chart below helps to illustrate how this works in more detail.

Income 4x income 4.5x income 5x income 5.5x income
£18,000 £72,000 £81,000 £90,000 £99,000
£19,000 £76,000 £85,500 £95,000 £104,500
£20,000 £80,000 £90,000 £100,000 £110,000
£21,000 £84,000 £94,500 £105,000 £115,500
£22,000 £88,000 £99,000 £110,000 £121,000
£23,000 £92,000 £103,500 £115,000 £126,500
£24,000 £96,000 £108,000 £120,000 £132,000
£25,000 £100,000 £112,500 £125,000 £137,500

Bear in mind that, if you’re applying for a joint mortgage with one or more other applicants, lenders will usually look at your combined earnings. There are also limited options available, usually through a broker, for people who need to borrow up to x6 salary.

Affordability calculator

If the chart above doesn’t list your exact income and you’d like to see how much you can potentially borrow, try our affordability calculator below…

Calculator Icon

Mortgage Affordability Calculator

Our affordability calculator can tell you how much you can potentially borrow from a mortgage lender. Simply enter your total household income below and our calculator will do the rest.

Input full salaries for all applicants

You could borrow up to 

Most lenders would consider letting you borrow

This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers. To borrow more than this, you will need to use a mortgage broker to access specialist lenders.

Some lenders would consider letting you borrow

This is based on 5 times your household income, a salary multiple you might struggle to qualify for without the help of a broker. This income multiple is not widely available to customers who are applying directly with a lender.

A minority of lenders would consider letting you borrow

This is based on 6 times your household income, a salary multiple you will struggle to get without a broker. Six-times salary mortgages are usually only available under very specific circumstances.

Get Started with an expert broker to find out exactly how much you could borrow.

How much deposit do you need for a £100,000 mortgage?

Currently, the minimum deposit requirements imposed by lenders for a residential mortgage are between 5%-10% – this is based on the property value NOT the mortgage amount.

So, if you were buying a property with a value of £100,000 (rather than borrowing this amount) you’d need a deposit of between £5,000-£10,000 at least, and then your mortgage would actually be between £95,000-£90,000.

It’s not completely out of the question to secure a mortgage for £100,000 with no deposit at all, but this is extremely rare at the moment.

For a more complex application, where there may be a bad credit issue or a mortgage involving a non-standard construction property, which will reduce the pool of lenders available, you may need a higher deposit of at least 25%.

For a buy-to-let mortgage most lenders ask for a minimum of 20%, although a mortgage broker with experience in this area should be able to identify some who will ask for less.

The higher your deposit the more likelihood of qualifying for the most competitive interest rates as mortgage lenders will reserve their best rates for mortgages with the lowest loan-to-value (LTV).

You can see how this works on our calculator below.

Calculator Icon

LTV Calculator

This calculator will tell you what your loan-to-value (LTV) ratio is, based on the property's value, your deposit/equity and the amount you're borrowing.

Enter an amount in pound sterling
Property value minus your deposit/equity
Loan amount must be less than property value

Your LTV is

This means that most mortgage providers will consider your deposit amount to be more than satisfactory, but speaking to a broker is still recommended to ensure you get the best deal.

This means you’re likely to meet the deposit requirements at most lenders, but since many reserve their best rates for those with higher deposits, speaking to a broker is recommended.

Many mainstream mortgage providers would consider this high and be reluctant to lend. Applying through a mortgage broker may be necessary to find a specialist low deposit mortgage lender.

LTVs have a direct impact on the rates available to you - speak to a mortgage broker and find out how to get the best deal based on your ratio.

How to get a £100,000 mortgage

After making your calculations, your next step should be to speak to a mortgage broker to ensure you get the best rate and deal on your mortgage. Make an enquiry with us and we will match you with the right advisor for free.

They’ll be able to help with:

  • Finding the right lender offering the best rates.  Your broker can save you a lot of time and, potentially, some money too by identifying the mortgage lenders currently offering the most competitive interest rates available across the market.
  • Downloading and optimising your credit reports.  Before you apply it’s important to check your credit history to make sure no bad credit issues exist and remove any inaccurate or outdated information that could hinder your chances of securing the mortgage you need.
  • Preparing your paperwork.  Your broker will be able to point out all the relevant documentary evidence required for your mortgage application – proof of income, address and ID, copies of bank statements etc. – so your mortgage application is as strong as it can be before you submit it.

Factors that affect your monthly repayments

Here are some of the key criteria that could have an impact – both directly and indirectly – on your mortgage repayments:

Interest rates

The rate you secure will influence the monthly cost. Everything else being the same, a higher interest rate will mean that you pay more for a £100k mortgage on a monthly basis. The rates available on the market can vary quite a bit. So, it’s crucial to deal with a lender who’ll offer the most competitive rate for your circumstances.

Fixed or Tracker

You’ll also get the option to choose between a fixed rate vs tracker mortgage. Usually, a fixed rate will be higher, increasing your monthly repayment. But, locking in a rate can allow you to better plan your finances.

Term Length

How long you take out a mortgage for can affect your rates and will have a direct impact on your monthly cost for a £100k loan. A longer-term will likely reduce your monthly repayments, but it usually means paying more over the life of the mortgage.

Your age

Although it’s possible to get a mortgage at almost any age, time on your side can lead to better deals from lenders. This in turn could mean lower rates and therefore lower monthly repayments for your £100,000 mortgage.

The role your credit score plays

It’s worth downloading all your credit reports before applying for a mortgage because these scores can make a difference to the number of lenders willing to consider your application and, therefore, indirectly affect the rates you’ll be offered. Your broker will be able to help with any mistakes and show you areas to improve. If you do have bad credit, there will still be specialist lenders available.

Access your credit report through a free trial

Credit rating illustration
Get my FREE report

Other mortgage costs to consider

There are a few other additional charges to think about that may impact the monthly costs when setting up a mortgage worth £100,000:

  • Product fees: some mortgages come with fees to set it up. This can include a booking fee, an arrangement fee, and a valuation fee. If you include these costs onto your total loan, it can mean nothing to pay upfront, but it will increase how much you pay each month.
  • Insurance: you will likely need to think about the additional costs of any insurance you may have to purchase. This can include building insurance, life insurance to cover the mortgage if you die, income protection if you’re unable to work, or critical illness cover to help if you get diagnosed with a serious condition.
  • Stamp duty: depending on the value of the home and if it’s your main residence, you might have to pay stamp duty. If you’re a first-time buyer or if it’s a residential property under £250,000 – this tax won’t apply.
  • Legal fees: these costs will usually need to be paid during the purchase process. So it won’t affect the monthly payments, but it is an additional cost to factor into your calculations.

Why use Online Mortgage Advisor?

Finding someone who has plenty of experience securing £100k mortgages with low payments can take a lot of time and effort. Luckily, the brokers we work with are industry experts and they can introduce you to the right lender from day one.

We offer a free, broker-matching service. This means we’ll quickly assess your personal situation and mortgage needs, and then pair you up with an expert broker who’ll find you the best home loan with the lowest repayments.

Just call 0808 189 2301 or make an enquiry. We’ll arrange a free, no-obligation chat between you and your ideal mortgage broker today.

Maximise your chance of approval with a dedicated specialist broker

Get Started

Ask Us A Question

We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in all different mortgage subjects.

Ask us a question and we'll get the best expert to help.

Feefo 5 Stars
1 of 3
2 of 3
3 of 3 Send!


Yes, this is possible. You’d still need to meet specific eligibility criteria set by the lender and pass the affordability checks. Deposit requirements can also be higher. But, providing you find a property and qualify, a £100,000 buy-to-let (BTL) mortgage can be arranged.

Ask Us A Question

We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in all different mortgage subjects.

Ask us a question and we'll get the best expert to help.

Our Brokers

Get in touch today

Make an enquiry and we'll arrange for an experienced mortgage broker we work with to contact you straight away.

1 of 3
2 of 3
3 of 3 Send!

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 Online Mortgage Advisor of course!

Read more about Pete

Pete Mugleston

Mortgage Advisor, MD

Maximise your chances of approval, whatever your situation - Find your perfect mortgage broker