Set the price and your mortgage, then the rent a similar home costs nearby. The calculator puts the two monthly figures side by side and separates the part of a mortgage that builds equity from the part that, like rent, is simply spent.
Two monthly figures, then a fairer one: the money that is gone either way.
Not on its own. Part of the mortgage payment repays the loan and comes back as equity when you sell; none of the rent does. Compare the interest line with the rent line to see what is actually spent, then weigh the deposit and the costs of moving against the security of owning.
When you arrive from a home page it is the Office for National Statistics average private rent for a home with that number of bedrooms in the area, for the latest month published. New builds often let for more than the average, so adjust it if you know the local market.
Interest is charged on the outstanding balance, which is largest at the start. At 4.5% on £270,000 the first year costs about £12,100 in interest and repays about £4,350 of capital. By the last years the split is the other way round.
Every home on ShowPage is new, with its price, move-in date and the developer's own contact details on the page.
The monthly repayment on a home from its price, your deposit, the term and the rate.
Calculate →The tax on your purchase in England, Scotland or Wales, band by band, with first-time buyer relief.
Calculate →Your income and deposit as the price of home you can look at, with the homes to match.
Calculate →Deposit, stamp duty and the fees in one figure: the cash you need on completion day.
Calculate →Gross and net yield from the price, the rent and the costs of letting a new build.
Calculate →Mortgage plus service charge, ground rent and council tax: the whole monthly figure for a flat.
Calculate →