Your monthly mortgage payment is the biggest number most buyers focus on — but it's far from the only cost of owning a home. Understanding the full monthly picture before you commit can prevent financial stress further down the line.
Calculate your monthly mortgage payment
See your exact monthly repayment, total interest and year-by-year breakdown.
Try the calculator →The mortgage repayment
On a £220,000 mortgage at 4.5% over 25 years, the monthly repayment is approximately £1,222. In the early years, a larger proportion goes towards interest — as time passes, more goes towards repaying the capital.
Buildings and contents insurance
Buildings insurance is required by your lender from exchange of contracts. Typical cost: £150–£400/year. Contents insurance: £100–£250/year. Both are essential and often overlooked in initial budget planning.
Life insurance and council tax
Mortgage protection life insurance can start from £10–£15/month for a healthy non-smoker. Council tax averages approximately £183/month across England in 2026, though this varies significantly by area and band.
Maintenance and the full picture
Budget 1–2% of the property value annually for maintenance. On a £250,000 home, that's £208–£417/month on average — though costs vary year to year.
💡 The full monthly picture on a typical £220,000 mortgage: repayment £1,222 + insurance £40 + life cover £15 + council tax £183 + maintenance £208 = approximately £1,668/month total. The mortgage is the floor, not the ceiling.