If you're looking to borrow £200,000 for a mortgage loan and want to know how much interest and the monthly repayments you'll pay, then we have the calculations professionally gathered for you.
The repayments use our online mortgage calculator which you can use to calculate alternative terms or interest rates. You can also look at the tables below for the repayments on a £200,000 loan. The repayments are divided up into the length of the loan and the interest rate you will pay.
| Rate | 5 Years | 10 Years | 15 Years | 20 Years | 25 Years |
|---|---|---|---|---|---|
| 2% | £3,506 | £1,840 | £1,287 | £1,012 | £848 |
| 3% | £3,594 | £1,931 | £1,381 | £1,109 | £948 |
| 4% | £3,684 | £2,024 | £1,479 | £1,212 | £1,056 |
| 5% | £3,774 | £2,121 | £1,582 | £1,320 | £1,169 |
| 6% | £3,867 | £2,220 | £1,688 | £1,433 | £1,287 |
These rates are applicable for new mortgages or remortgages and are on a repayment basis for a loan of £200,000 to repay in the number of years shown.
An example Santander mortgage for a property valued at £333,400 and a loan-to-value of 80% with a £200,000 mortgage is as follows:
Please note that these rates are for illustrative purposes only. You should not rely on them but get a professional financial quote for your £200,000 mortgage offer.
All values are in pounds sterling for the years provided. The value shown is the monthly repayment for each month of your £200,000 mortgage. Please see our mortgage calculator for different rates, the total repayments you'll make over the life of the loan, and the total interest paid.
You can also enter different interest rates and time and loan periods. See our mortgage calculator to calculate mortgage repayments for full information on your costs by year.
It's unlikely you'll get a mortgage for 100% of the property value so you'll need to pay a deposit. Most lenders require a 10% or 20% deposit, but you may find lower rates. A 10% deposit equates to £20,000, whereas a 20% deposit would be £40,000.
Mortgage rates on a £200,000 usually decrease with a lower loan-to-value ratio. You'll also likely have a wider choice of lenders and loan types.
You can usually pay a little more than your contracted payment which reduces the overall interest you pay as well as the mortgage term. Check your terms as you may incur an early repayment charge (ERC) if you repay your loan early.
Depending on the lender, booking or arrangement fees may be payable. These may add an additional £1,000 to your loan (although you can usually add this to your mortgage). Other costs to be aware of include solicitors' fees, Land Registry charges and removal costs.
Whatever your reasons for needing a £200,000 mortgage, be sure to seek professional advice either from a mortgage broker or an independent financial adviser. They can help you find the right product, whether it be a fixed-rate, tracker or offset mortgages, to fit your exact circumstances.
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