£300,000 Mortgage: Monthly Payments
A £300,000 mortgage over 25 years at 5% costs about £1,754 a month. Here is how the payment changes with the rate and the length of the mortgage.
Monthly repayment on £300,000
| Interest rate | 15 years | 20 years | 25 years | 30 years | 35 years |
|---|---|---|---|---|---|
| 3% | £2,072 | £1,664 | £1,423 | £1,265 | £1,155 |
| 4% | £2,219 | £1,818 | £1,584 | £1,432 | £1,328 |
| 5% | £2,372 | £1,980 | £1,754 | £1,610 | £1,514 |
| 6% | £2,532 | £2,149 | £1,933 | £1,799 | £1,711 |
| 7% | £2,696 | £2,326 | £2,120 | £1,996 | £1,917 |
Repayment or interest-only?
| Interest rate | Interest-only a month | Repayment a month (25 years) |
|---|---|---|
| 3% | £750 | £1,423 |
| 4% | £1,000 | £1,584 |
| 5% | £1,250 | £1,754 |
| 6% | £1,500 | £1,933 |
| 7% | £1,750 | £2,120 |
Interest-only is cheaper each month but you still owe all £300,000 at the end, so you need a plan to repay it.
Total cost
At 5% over 25 years you pay £526,131 in total: the £300,000 borrowed plus about £226,131 of interest. Overpaying a little each month can shorten the term and cut the interest; try the mortgage overpayment calculator.
Nearby amounts
Figures assume a fixed rate for the whole term. Most people fix for two to five years and then move to a new deal, so payments can change. Fees and stamp duty are extra. Speak to a regulated mortgage adviser before you borrow.
Frequently asked questions
How much is a £300,000 mortgage per month?
Over 25 years at 5% a £300,000 repayment mortgage costs about £1,754 a month. At 4% it is £1,584 and at 6% £1,933.
How much interest will I pay on a £300,000 mortgage?
At 5% over 25 years you would pay about £226,131 in interest on top of the £300,000 you borrow, so £526,131 in total.
What income do I need for a £300,000 mortgage?
Lenders typically offer 4 to 4.5 times income, so you would need an income of roughly £66,667 to £75,000, depending on your outgoings.
What is the difference between repayment and interest-only?
With a repayment mortgage you pay off the loan as well as the interest, so you own the home outright at the end. With interest-only you pay just the interest each month and still owe the full amount at the end.
Figures are for the 2026/27 tax year from official sources and are estimates for guidance only, not financial or legal advice. Printed from ukanswers.co.uk.