UK Mortgage
£200,000 mortgage at 4% over 20 years
A £200,000 repayment mortgage with a 4% 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
£1,211.96
Total interest
£90,870.56
Total repaid
£290,870.56
Based on the standard amortisation formula. Excludes arrangement fees, valuation fees, stamp duty and insurance.
What does a £200,000 mortgage cost per month?
At 4% APR over a 20-year term, the monthly repayment on a £200,000 mortgage is about £1,211.96. Over the life of the loan you'd repay £290,870.56 in total — of which £90,870.56 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.