How much does a £180,000 mortgage cost?

If you’re planning to buy a home and you’re considering borrowing £180,000, the next question is usually simple: what will it cost each month?

The answer depends mainly on your mortgage term, interest rate, and mortgage type (repayment or interest-only). In this guide, we’ll show you how to estimate the monthly repayments on a £180,000 mortgage, what income and deposit you may need, and the other costs that can affect your overall budget.

At a glance: what drives the cost of a £180,000 mortgage?

Your monthly repayment is most influenced by:

Term length (e.g., 25 vs 30 years)
Interest rate (fixed, variable, tracker)
Mortgage type:
- Repayment mortgages reduce the balance over time
- Interest-only mortgages typically keep the balance the same (you repay the capital separately)
Your personal circumstances (credit history, affordability, age)

Because of this, two borrowers with the same loan amount can have noticeably different monthly costs.

How much will a £180,000 mortgage cost per month?

To estimate repayments, you need to consider the combination of interest rate and term.

Here are a couple of indicative examples to show how repayments can change:

£180,000 over 20 years at 4%: roughly £1,091/month
£180,000 over 20 years at 5%: roughly £1,188/month

Important: These are indicative examples. Your actual repayment depends on the specific deal you’re offered and how your rate applies (for example, fixed vs variable).

Mortgage repayment calculator (for a £180,000 loan)

Use the calculator below to estimate your monthly repayment.

Enter: the interest rate and term you’re considering.

Loan amount: £180,000
Interest rate (%):
Term (years):

What you’ll get

Estimated monthly repayment
Estimated total amount repaid over the term
Estimated total interest

If you’re comparing options, try changing just one variable at a time (for example, keep the rate the same and test 25 vs 30 years) so you can see what’s really driving the difference.

Example monthly repayments by term and interest rate

The table below illustrates how repayments can vary for a £180,000 mortgage assuming the interest rate stays the same for the full term.

Interest rate	15 years	20 years	25 years	30 years	35 years	Interest-only
1%	£1,077	£828	£678	£579	£508	£150
2%	£1,158	£911	£763	£665	£596	£300
3%	£1,243	£998	£854	£759	£693	£450
4%	£1,331	£1,091	£950	£859	£797	£600
5%	£1,423	£1,188	£1,052	£966	£908	£750
6%	£1,519	£1,290	£1,160	£1,079	£1,026	£900
7%	£1,618	£1,396	£1,272	£1,198	£1,150	£1,050
8%	£1,720	£1,506	£1,389	£1,321	£1,278	£1,200

Repayment vs interest-only (quick note)

With a repayment mortgage, your monthly payment covers interest plus capital, so the balance reduces over time.
With an interest-only mortgage, your monthly payment typically covers interest only, and you must have a plan to repay the £180,000 capital at the end of the term.

How much income do you need for a £180,000 mortgage?

Lenders assess affordability using your income and outgoings, not just a simple “salary multiplier”. That said, many borrowers find their borrowing capacity broadly aligns with common affordability bands.

A common rule of thumb is that lenders may consider borrowing in the region of around 4 to 4.5 times your annual income (though this varies by lender and your circumstances).

For a £180,000 mortgage, that can translate to an annual income ballpark of roughly:

~£40,000 to £45,000 (depending on the lender’s approach and your financial profile)

If your income is lower, you may be able to consider options such as:

applying with a joint applicant
improving affordability factors (for example, reducing committed spending)
reviewing the term or deposit to adjust the monthly cost

A broker can help you understand what’s likely to be achievable for your specific situation.

How much deposit do you need for a £180,000 mortgage?

Most lenders require a deposit based on the property value, not the mortgage amount.

If you’re buying a property valued at £180,000, typical deposit ranges might be:

5% deposit: £9,000 (leaves a mortgage of £171,000)
10% deposit: £18,000 (leaves a mortgage of £162,000)

To borrow £180,000, the property value would usually need to be higher than £180,000 unless you’re using a non-standard arrangement.

If you have a smaller deposit

A smaller deposit can mean:

higher monthly repayments (because you’re borrowing a higher percentage of the property)
fewer options at the most competitive rates

If you have adverse credit

Some borrowers with past credit issues may need a larger deposit to access certain mortgage options.

Other costs to factor in (so you don’t underestimate the true monthly budget)

Your repayment isn’t the only cost. When budgeting for a £180,000 mortgage, also consider:

Mortgage fees (arrangement fees, booking fees, valuation/survey costs)
Stamp duty (depends on the property and your circumstances)
Conveyancing/legal fees
Buildings insurance (usually required)
Life insurance / critical illness cover (optional but commonly considered)

It’s worth planning for these so your monthly outgoings are realistic from day one.

Why use a mortgage broker for a £180,000 mortgage?

A broker can help you compare mortgage options based on your details, including:

the repayment vs interest-only choice that fits your plan
how term length affects affordability
which lenders may be a better match for your credit profile and income
whether a different structure (for example, fixed vs variable) could suit your risk and budgeting needs

Instead of guessing, you can get a clearer view of what’s likely to work for you.

Next steps

If you’re working out the cost of borrowing £180,000, start by:

testing repayment scenarios using the calculator (change term and rate)
estimating your deposit and total upfront costs
checking your monthly budget includes insurance and other commitments

When you’re ready, speak to a broker to narrow down the options that fit your affordability and goals.

How much does a £180,000 mortgage cost? (Monthly repayments guide)