£150,000 mortgage: monthly payments
Borrowing £150,000? At 4.5% over 25 years you would pay £833.75 a month. Every rate and term is compared below.
- At 4.5% over 25 years
- £834 a month
- Total interest
- £100,125
- Income needed (4.5x)
- £33,333
- Overpay £80 a month
- save £16,728
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A £150,000 repayment mortgage at 4.5% over 25 years costs £833.75 a month. You would repay £250,125 in total, of which £100,125 is interest.
Monthly payments on £150,000 by rate and term
| Rate | 20 years | 25 years | 30 years | 35 years |
|---|---|---|---|---|
| 3.5% | £870 | £751 | £674 | £620 |
| 4% | £909 | £792 | £716 | £664 |
| 4.5% | £949 | £834 | £760 | £710 |
| 5% | £990 | £877 | £805 | £757 |
| 5.5% | £1,032 | £921 | £852 | £806 |
| 6% | £1,075 | £966 | £899 | £855 |
How £150,000 is paid off over 25 years
- Balance still owed
- Interest paid so far
Total interest on £150,000 by term
A longer term lowers the monthly payment but adds interest. Stretching from 25 to 35 years saves £124 a month and costs £48,029 more overall.
Keep going
- Income needed: what £34,000 a year can borrow.
- With a 10% deposit £150,000 buys about £165,000. Stamp duty on £175,000 is £1,000 for a home mover.
- Nearby amounts: £120,000, £130,000, £140,000, £160,000, £170,000, £180,000.
Questions people ask
What are the monthly payments on a £150,000 mortgage?
£833.75 a month on a 25 year repayment mortgage at 4.5%. At 4% it is £791.76 and at 5% it is £876.89. Interest only at 4.5% would be £562.50.
What salary do I need for a £150,000 mortgage?
At the usual 4.5 times income, about £33,333 for a single buyer or a joint household income. Some lenders go to 5 or 5.5 times, which would need around £27,273.
How much does overpaying a £150,000 mortgage save?
Paying £80 extra a month at 4.5% clears it about 3 years 8 months early and saves roughly £16,728 in interest. Check your lender's overpayment limit, often 10% a year on fixed deals.