This calculator takes a loan amount (derived from the purchase price and deposit) and calculates the monthly repayments over a set term or the whole life of the mortgage. It also allows you to caculate the overall APR for the loan and the Internal Rate of Return for the assumed life of the mortgage.

Both the Internal Rate of Return and the Annual Percentage Rate give an annual interest rate which accurately reflects every payment made on the loan, including fees and costs. The main difference between APR and the Internal Rate of Return, is that APR is always measured over the full life of a loan term, whereas the Internal Rate of Return allows you to compare the products over any length of time. This is more suitable when you consider that the average life of a mortgage is only 6 or 7 years.

	Mortgage
Loan required:
Full term in years:
Assumed mortgage life:
Enter R for repayment, N for interest only:
Initial nominal interest rate:
Changing after:
To new interest rate of:
Rests per year (1 to 365)
Initial Costs

Check the boxes to add these initial costs to the loan. Leave blank to pay them up front.

Basic valuation fee
Application fee
Mortgage indemnity guarantee
Lender legal fees
Other mortgage related costs
Enter any initial refunds
Cashback
Other refunds
Enter any regular costs
Eg compulsory insurance premium
Enter any redemption fees
Fixed redemption charge
Redemption as months
Redemption as percentage
Monthly payments & IRR
Initial advance
Initial mortgage payment
Subsequent repayments
Total payments over assumed mortgage life

Internal Rate of Return
Annual Percentage Rate

Please note: This calculator should be used for indicative purposes only and should not be taken as representing advice. Always get a full quotation from your lender or other professional adviser before purchasing a mortgage product. Because of differences in the method of calculation, APR can vary slightly across lenders for products which are essentially the same.