Getting a UK mortgage: what lenders assess
A detailed guide to mortgage borrowing limits, affordability, deposits, income evidence, credit checks, property valuation and the application process.
Prepare · Calculator 07
Mortgage Rate Change Calculator UK: How Much Could My Payment Increase?
Project the balance at the end of a mortgage deal, compare rate scenarios and explore one-off or monthly overpayments.
1 Enter your figures2 Review assumptions3 Explore the result
Your figures
Your entries stay in this tab and are not sent to Money Considered. A shareable link includes only the assumptions shown in its URL.
Illustrative monthly payment after reset
£1,187/mo£1,187 contractual payment plus £0 optional overpayment at an assumed 4.5% rate.Change from current payment+£197/mo
Estimated balance at reset£213,546
Estimated LTV at reset60.4%Illustrative—not a lender valuation
Hover over or focus a point to see its exact value.
3.0% rate£1,013/mo26 years from today · £95,678 interest
4.5% rate£1,187/mo26 years from today · £147,968 interest
6.0% rate£1,376/mo26 years from today · £204,645 interest
Payment increase if your rate rises by 1, 2 or 3 percentage points
Each scenario starts from your current rate and uses the estimated reset balance and remaining term. Optional monthly overpayments are excluded.
| Rate change | New rate | Current payment | New payment | Monthly increase | Annual increase |
|---|---|---|---|---|---|
| +1 percentage point | 3.5% | £990 | £1,069 | +£79 | +£949 |
| +2 percentage points | 4.5% | £990 | £1,187 | +£197 | +£2,364 |
| +3 percentage points | 5.5% | £990 | £1,311 | +£321 | +£3,856 |
Estimated property position at reset
£353,500 valueThe LTV estimate uses your property-price assumption. A lender’s valuation, product criteria and available rates may differ.Assumptions used
- Interest is added monthly before each payment.
- The current rate and payment remain unchanged until the entered reset month.
- The new contractual payment fully repays the balance over the entered term; optional overpayments shorten the path.
- Lower and higher scenarios are 1.5 percentage points either side of the selected new rate.
- Fees, early-repayment charges, overpayment limits, tax and lender affordability checks are excluded.
This is a cash-flow and balance illustration for a repayment mortgage. It does not show which products you could obtain or whether changing a mortgage would be suitable.