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A £600,000 repayment mortgage over 25 years costs £3,167 a month at an example rate of 4%, £2,845 at 3% and £3,508 at 5%. On interest only at an example 4%, the payment is £2,000 a month. If £600,000 is the house price rather than the loan, the figures are lower, and the second table below shows them. All of these are illustrations, not quotes.
£600k mortgage monthly payments at different example rates
Each row shows the repayment per month over 25 years, the total repaid over that time and the interest only payment. Between an example 4% and 5%, the monthly repayment on £600,000 goes up by £341.
| Example rate | Repayment, per month | Total repaid over 25 years | Interest only, per month |
|---|---|---|---|
| 3% | £2,845 | £853,580 | £1,500 |
| 4% | £3,167 | £950,106 | £2,000 |
| 5% | £3,508 | £1,052,262 | £2,500 |
| 6% | £3,866 | £1,159,743 | £3,000 |
Illustration only. These figures are worked out on a £600,000 mortgage at the example interest rates shown, with the rate staying the same for the whole term and payments made monthly. They are not a quote, not an offer of credit and not the rates lenders are offering today. They leave out product fees, valuation and legal costs, and any change in rate when a fixed or tracker period ends, so your actual payments and the total you repay will be different. The rate you are offered depends on the lender, your deposit, your income, your credit history and the product you choose. Figures are rounded to the nearest pound. On interest only the monthly payment covers the interest alone, so the full loan is still owed at the end of the term and you need a way of repaying it that the lender accepts. Your home may be repossessed if you do not keep up repayments on your mortgage.
Mortgage on a £600k house: the monthly payments
Buying a £600,000 house, the loan is the price less your deposit. The table works that out at a 10%, 15% and 25% deposit, with the repayment per month over 25 years at example rates of 4% and 5%.
| Deposit | Deposit amount | Loan amount | Repayment per month at an example 4% | Repayment per month at an example 5% |
|---|---|---|---|---|
| 10% | £60,000 | £540,000 | £2,850 | £3,157 |
| 15% | £90,000 | £510,000 | £2,692 | £2,981 |
| 25% | £150,000 | £450,000 | £2,375 | £2,631 |
Illustration only. These figures are worked out on the mortgage amounts shown at the example interest rates shown, with the rate staying the same for the whole term and payments made monthly. They are not a quote, not an offer of credit and not the rates lenders are offering today. They leave out product fees, valuation and legal costs, and any change in rate when a fixed or tracker period ends, so your actual payments and the total you repay will be different. The rate you are offered depends on the lender, your deposit, your income, your credit history and the product you choose. Figures are rounded to the nearest pound. On interest only the monthly payment covers the interest alone, so the full loan is still owed at the end of the term and you need a way of repaying it that the lender accepts. Your home may be repossessed if you do not keep up repayments on your mortgage.
At £600,000 the price is over the £500,000 first time buyer relief limit, so a first time buyer and a home mover pay the same stamp duty: £20,000 on the England and Northern Ireland rates for a main home. Your solicitor confirms the exact figure.
At an example 4%, a £600,000 repayment mortgage over 25 years costs £3,167 a month. Illustration only.
Income needed at the usual 4.5 to 5.5 times range: £109,091 to £133,333, single or joint.
On a £600,000 house with a 10% deposit, the loan is £540,000: £2,850 a month at an example 4%.
What salary do you need for a £600k mortgage?
Across my panel, 4.5 to 5.5 times income is the usual accepted range, which for £600,000 means an income of about £109,091 to £133,333, from one person or two. I have placed a case at 6 times income, which would be £100,000, but that is one case and not a rule. Lenders take off committed spending first, so the figure is worked out lender by lender.
At this level the income is often more than a basic salary. Bonus, overtime, allowances, locum work and dividends can all count, but each lender treats them in its own way: one may use all of a regular bonus, another part of it, another none. For company directors, some lenders look at salary and dividends, and others at salary plus the share of profit kept in the company.
I cover how lenders look at these incomes in more detail on my pages on mortgages for doctors, mortgages for dentists and mortgages for limited company directors.
| Income multiple | Income needed (single or joint) |
|---|---|
| 4.5 times | £133,333 |
| 5 times | £120,000 |
| 5.5 times | £109,091 |
| 6 times | £100,000 |
How much deposit and stamp duty on a £600k mortgage?
Here £600,000 is the loan. The table shows the house price it matches at a 10%, 15% and 25% deposit, the deposit in pounds and the stamp duty due. None of these prices qualify for first time buyer relief, because each is over £500,000.
| Deposit | House price | Deposit amount | Stamp duty, home mover | Stamp duty, first time buyer |
|---|---|---|---|---|
| 10% | £666,700 | £66,700 | £23,335 | No relief (price over £500,000) |
| 15% | £705,900 | £105,900 | £25,295 | No relief (price over £500,000) |
| 25% | £800,000 | £200,000 | £30,000 | No relief (price over £500,000) |
Stamp duty figures use the rates for England and Northern Ireland that apply from 1 April 2025, checked in September 2026, for a main home. Buying an additional property adds a 5% surcharge on top. Scotland and Wales have their own taxes and bands. House prices are rounded to the nearest £100. Your solicitor confirms the exact figure.
How the term changes the monthly payment
Spreading the same loan over more years lowers each payment and adds to the total interest. At an example 4%, £600,000 over 25 years is £3,167 a month and £950,106 in total. Over 35 years it is £2,657 a month, but the total repaid rises to £1,115,792. Lenders set the longest term they allow by your age when the mortgage ends.
| Term | At an example 4% | At an example 5% |
|---|---|---|
| 25 years | £3,167 | £3,508 |
| 30 years | £2,864 | £3,221 |
| 35 years | £2,657 | £3,028 |
Illustration only. These figures are worked out on a £600,000 mortgage at the example interest rates shown, with the rate staying the same for the whole term and payments made monthly. They are not a quote, not an offer of credit and not the rates lenders are offering today. They leave out product fees, valuation and legal costs, and any change in rate when a fixed or tracker period ends, so your actual payments and the total you repay will be different. The rate you are offered depends on the lender, your deposit, your income, your credit history and the product you choose. Figures are rounded to the nearest pound. On interest only the monthly payment covers the interest alone, so the full loan is still owed at the end of the term and you need a way of repaying it that the lender accepts. Your home may be repossessed if you do not keep up repayments on your mortgage.
Speak to an expert
Have a mix of salary, bonus, allowances or dividends? Send me the breakdown and I will show you how different lenders are likely to treat it for a mortgage of around £600,000.
Repayment, interest only or part and part?
A repayment mortgage clears the loan by the end of the term. Interest only keeps the monthly payment lower, £2,000 against £3,167 on £600,000 at an example 4%, but the whole £600,000 is still owed at the end. Part and part puts some of the loan on each, so both the payment and the balance left over sit in between.
For residential interest only, lenders ask for a repayment method, evidence that your earnings continue into retirement, or both. My interest only mortgages page covers what lenders accept.
For nearby loan sizes, see the monthly payments on a £500k mortgage and on a £700k to £800k mortgage. My high value mortgages page brings the larger loan sizes together.
Which figures apply to you?
Every figure on this page uses an example rate. The ones that matter for you come from your income and how lenders treat it, your deposit, the term and the rate you are offered. The balance between a lower monthly payment and a lower total cost is a personal choice, and working through it with your own numbers is what an advice appointment is for.
I work with 120+ lenders and place cases with private banks too. My fee is a flat £350 payable on mortgage offer, whatever the loan size, and in my recent cases offers have come through in under two weeks, though timescales vary. Call me on 01425 203055 or book a 15 minute call.
Need Personal Mortgage Advice?
Every buyer’s situation is different. While this guide explains the general rules, the right mortgage for you depends on your income, deposit, credit history and future plans. If you’d like tailored advice, I can help, with 120+ lenders to choose from.
