£350,000 Mortgage: Monthly Payments
A £350,000 mortgage over 25 years at 5% costs about £2,046 a month. Here is how the payment changes with the rate and the length of the mortgage.
Monthly repayment on £350,000
| Interest rate | 15 years | 20 years | 25 years | 30 years | 35 years |
|---|---|---|---|---|---|
| 3% | £2,417 | £1,941 | £1,660 | £1,476 | £1,347 |
| 4% | £2,589 | £2,121 | £1,847 | £1,671 | £1,550 |
| 5% | £2,768 | £2,310 | £2,046 | £1,879 | £1,766 |
| 6% | £2,953 | £2,508 | £2,255 | £2,098 | £1,996 |
| 7% | £3,146 | £2,714 | £2,474 | £2,329 | £2,236 |
Repayment or interest-only?
| Interest rate | Interest-only a month | Repayment a month (25 years) |
|---|---|---|
| 3% | £875 | £1,660 |
| 4% | £1,167 | £1,847 |
| 5% | £1,458 | £2,046 |
| 6% | £1,750 | £2,255 |
| 7% | £2,042 | £2,474 |
Interest-only is cheaper each month but you still owe all £350,000 at the end, so you need a plan to repay it.
Total cost
At 5% over 25 years you pay £613,820 in total: the £350,000 borrowed plus about £263,820 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 £350,000 mortgage per month?
Over 25 years at 5% a £350,000 repayment mortgage costs about £2,046 a month. At 4% it is £1,847 and at 6% £2,255.
How much interest will I pay on a £350,000 mortgage?
At 5% over 25 years you would pay about £263,820 in interest on top of the £350,000 you borrow, so £613,820 in total.
What income do I need for a £350,000 mortgage?
Lenders typically offer 4 to 4.5 times income, so you would need an income of roughly £77,778 to £87,500, 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.