It's Free to Speak to an Advisor, 7 days, 8am - 10pm
It's Free to Speak to an Advisor, 7 days, 8am - 10pm
Work out your mortgage repayments based on your property value and deposit size.
Our mortgage calculator gives a helpful estimate of your potential monthly payments based on your mortgage amount, interest rate and term length.
However, the accuracy of the calculator can vary depending on the accuracy of the information provided.
While a calculator is a great starting point, for precise figures it’s always best to speak to a mortgage advisor who can take all factors into account and tailor advice to your specific circumstances.
Interest rates play a key role in determining the cost of your monthly mortgage payments.
When interest rates are low, your payments are likely to be lower as more of your payment goes towards paying off the capital.
However, if interest rates rise, your monthly payments will increase, as a larger portion will go towards covering the interest.
Whether you have a fixed-rate or variable-rate mortgage will also impact how sensitive your payments are to changes in interest rates. A fixed-rate mortgage offers stability by keeping payments the same, while a variable-rate mortgage can fluctuate with market conditions.
If you’re uncertain, speaking with a mortgage broker like us can help you understand how future interest rate changes might affect your budget.
Your loan value decreases over time as you make your monthly mortgage payments, with each payment contributing towards both the interest and the loan balance (the principal).
The speed at which the loan decreases depends on the type of mortgage you have. With a repayment mortgage, each payment gradually reduces both the interest owed and the principal, so your loan balance decreases steadily.
With an interest-only mortgage, you’re only paying the interest each month, meaning the loan balance remains unchanged until you repay the capital in full at the end of the term.
The amount you can borrow depends on several factors, including your income, outgoings, credit history, and the size of your deposit.
Lenders often use a multiple of your annual salary (typically around 4 to 4.5 times your income) as a guide, but they will also assess your affordability based on your monthly expenses and financial commitments.
For a quick and personalised estimate, you can use our How Much Can I Borrow Calculator to get an idea of your potential borrowing capacity.
For more detailed advice tailored to your situation, speaking to a mortgage broker is always a smart next step.
Using a mortgage broker can make a significant difference when navigating the mortgage process. Brokers have access to a wide range of lenders and deals that may not be available directly to the public.
They can help you find the most suitable mortgage based on your financial situation and preferences, saving you time and potentially securing better rates.
As a broker, we also handle much of the paperwork and liaise with lenders on your behalf, simplifying the process from start to finish.
Our Customers Love Us
4.83 Rating18 Reviews
Jayne
Dinah Harros was our mortgage broker and she was extremely polite, professional and diligent. She took time to really listen and understand our financial situation and recommend the perfect mortgage product for us. Dinah was easy to contact and...
1 year ago
Donna
FANTASTIC AND OUTSTANDING SERVICE!! Unfortunately the purchase of our new home was rather difficult, we had devaluations and chains falling through, so to say the least it was testing!! we had a very stressful, hard 7 months to get to the...
2 years ago
Stuart
Dealt with my mortgage arrangement and application in super quick time. Very efficient and would recommend to everyone.
2 years ago
Rebecca
Leo and Lyndsey were fantastic! No issues at all, and all very quick and efficient. Thankyou so much
3 years ago
Anonymous
She was so helpful. I felt hopeless after just having my mortgage declined by a high Street bank and she's given me some hope again.
3 years ago
Akvile
Amazing and really friendly service. Really glad I choosed this company for my remortgage. I would definitely recommend this company to everyone
4 years ago
Jonathan
I would highly recommend Scunthorpemoneyman to anybody needing the service. They have been very quick to respond to any questions and I have had to do next to nothing through the hole process they have handled everything brilliantly.
4 years ago
Samanatha
Fantastic advice and guidance throughout the full process. Malcolm and his team were extremely knowledgeable, efficient and responsive during our mortgage application. When we came across obstacles, these were dealt with quickly and advice given on...
4 years ago
Amelia
Absolutely fantastic service from all at Scunthorpe money man. The staff are so friendly and helpful, nothing is too much trouble, any questions answered. Kept up to date all the way through, I would recommend to anyone. Many thanks for all...
5 years ago
Samantha
Outstanding service from start to finish with every member of the team helpful and friendly. I could rely on them for advice and updates at all stages.
5 years ago
Thomas
Wow..... what a fantastic team they are Matt,Mel and Wendy did a fantastic job for me been messed around by other brokers in the past but from the very first phone conversation I knew they had my best interests. Fantastic communication always kept...
6 years ago
Anonymous
Thanks so much to the team. You made everything so easy and clear. I would highly recommend your services.
6 years ago
Richard
Great communication from start to finish and even after finding a mortgage deal for us Jason kept looking and found a even better one at .5% less
7 years ago
Jayne
A fabulous company to deal with who put my mind at ease and everything that they required in the manner of documentation was never a problem, Matt, Leanne and Wendy kept in constant contact with me and gave me a 5 star service, in actual fact it was...
7 years ago
Kenneth
I can’t thank Matt and Mizna enough for all there help and hard work! Nearly time to sign for our house and it wouldn’t have been possible without the help of Scunthorpe Money Man! Thank you all!!
7 years ago
Sophie
Absolutely fantastic staff! I stumbled across Scunthorpe Money Man on google, with just one call the ball was rolling...fast, efficient, friendly and supportive. People say mortgage applications are stressful and boy they are not wrong but with the...
7 years ago
Chris
Very happy with the service provided, Excellent service from start to finish. I would definitely recommend Scunthorpe Moneyman and would use them again in the future. 5* Experience.
7 years ago
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Read our 18 Reviews
Scunthorpemoneyman.com & Scunthorpemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© Scunthorpemoneyman 2025.
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Scunthorpemoneyman.com & Scunthorpemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© Scunthorpemoneyman 2025.
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