Mortgage Balance Calculator
Find your estimated outstanding mortgage balance, how much interest you still have to pay, and how much time is left on your term.
Enter your original loan amount, annual interest rate, and mortgage term in years. Then tell the calculator how far through the mortgage you are — either by entering the number of monthly payments already made, or by expanding Or, calculate from your start date and entering the date your mortgage began (the calculator counts whole months from that date to today).
The result shows your estimated outstanding balance, the interest still to be paid over the remaining term, and how long is left. It also shows how much capital you have already repaid and interest already paid — useful context when reviewing your mortgage deal.
Note: this is an estimate based on the original mortgage terms. If your interest rate has changed, you have made overpayments, or you took a payment holiday, your actual balance from your lender may differ. For a legally accurate figure, request a redemption statement.
Your outstanding mortgage balance matters in several situations:
This calculator assumes the interest rate has remained constant since the mortgage started and that every standard payment has been made on time with no overpayments. In practice, most UK mortgages go through at least one rate change — from an introductory fixed or tracker rate to the lender's standard variable rate (SVR). Each rate change alters the amortization trajectory slightly. For an exact figure, ask your lender for a redemption statement, which shows the precise balance including any daily interest that has accrued since your last payment date.
The most accurate way is to request a redemption statement from your lender — this gives the exact balance including any accrued daily interest. This calculator gives a close estimate based on the original mortgage terms and the number of payments made, assuming no overpayments or rate changes since you took out the mortgage.
This calculator assumes a constant interest rate throughout the term. If your rate has changed (e.g. after a fixed-rate period ended, or after a Bank of England base rate change on a tracker), the actual balance will differ. Overpayments, payment holidays, or any missed payments will also cause a difference. For the exact current figure, always request a statement from your lender.
It is the total interest that will still be charged between now and the end of the mortgage term, assuming no overpayments and no rate changes. Together with the outstanding balance, it tells you the total amount you will pay to clear the mortgage if you make only the standard monthly payments for the rest of the term.
Yes, it gives a useful estimate when your lender's redemption statement is not yet available. Lenders typically require a formal redemption statement to process a remortgage, but this calculator can help you plan ahead — for example, to check whether your loan-to-value (LTV) ratio has fallen enough to qualify for a better rate. Use the LTV Calculator alongside this one.
The calculator runs a full amortization schedule from the original loan amount using the standard repayment formula, then reads off the balance after the number of payments you have made. For example, after 60 payments on a 25-year mortgage the balance is the value at row 60 in the schedule.