£400,000 Mortgage: Monthly Payments
A £400,000 mortgage over 25 years at 5% costs about £2,338 a month. Here is how the payment changes with the rate and the length of the mortgage.
Monthly repayment on £400,000
| Interest rate | 15 years | 20 years | 25 years | 30 years | 35 years |
|---|---|---|---|---|---|
| 3% | £2,762 | £2,218 | £1,897 | £1,686 | £1,539 |
| 4% | £2,959 | £2,424 | £2,111 | £1,910 | £1,771 |
| 5% | £3,163 | £2,640 | £2,338 | £2,147 | £2,019 |
| 6% | £3,375 | £2,866 | £2,577 | £2,398 | £2,281 |
| 7% | £3,595 | £3,101 | £2,827 | £2,661 | £2,555 |
Repayment or interest-only?
| Interest rate | Interest-only a month | Repayment a month (25 years) |
|---|---|---|
| 3% | £1,000 | £1,897 |
| 4% | £1,333 | £2,111 |
| 5% | £1,667 | £2,338 |
| 6% | £2,000 | £2,577 |
| 7% | £2,333 | £2,827 |
Interest-only is cheaper each month but you still owe all £400,000 at the end, so you need a plan to repay it.
Total cost
At 5% over 25 years you pay £701,508 in total: the £400,000 borrowed plus about £301,508 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 £400,000 mortgage per month?
Over 25 years at 5% a £400,000 repayment mortgage costs about £2,338 a month. At 4% it is £2,111 and at 6% £2,577.
How much interest will I pay on a £400,000 mortgage?
At 5% over 25 years you would pay about £301,508 in interest on top of the £400,000 you borrow, so £701,508 in total.
What income do I need for a £400,000 mortgage?
Lenders typically offer 4 to 4.5 times income, so you would need an income of roughly £88,889 to £100,000, 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.