UK Mortgage
£150,000 mortgage at 6% over 20 years
A £150,000 repayment mortgage with a 6% fixed interest rate spread over 20 years would cost approximately the amounts shown below. Figures are illustrative — your actual rate depends on loan-to-value, credit score and lender.
Monthly repayment
£1,074.65
Total interest
£107,915.18
Total repaid
£257,915.18
Based on the standard amortisation formula. Excludes arrangement fees, valuation fees, stamp duty and insurance.
What does a £150,000 mortgage cost per month?
At 6% APR over a 20-year term, the monthly repayment on a £150,000 mortgage is about £1,074.65. Over the life of the loan you'd repay £257,915.18 in total — of which £107,915.18 is interest.
The same loan over 15 years would be cheaper overall but higher each month. Stretching the term reduces the monthly cost but increases lifetime interest.
How to lower the repayment
- Increase your deposit to reduce the loan amount.
- Improve your credit score before applying — even a 0.25% rate cut saves thousands.
- Compare whole-of-market brokers, not just your high-street bank.
- Consider overpayments — most UK lenders allow 10% per year fee-free.