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On a £700,000 mortgage over 25 years, the monthly repayment is about £3,319 at an example 3%, £3,695 at 4% and £4,092 at 5%. On £800,000 the same example rates give £3,794, £4,223 and £4,677. Interest only at an example 4% is £2,333 a month on £700,000 and £2,667 on £800,000. All of these are illustrations, not quotes.
This page puts £700,000, £750,000 and £800,000 side by side. At an example 4%, each extra £50,000 borrowed adds about £264 a month to the repayment.
£700k to £800k mortgage monthly payments at different example rates
Repayment mortgage, per month, over 25 years. Each payment covers the interest and pays off part of the loan, so the balance is cleared by the end of the term.
| Example rate | £700,000 | £750,000 | £800,000 |
|---|---|---|---|
| 3% | £3,319 | £3,557 | £3,794 |
| 4% | £3,695 | £3,959 | £4,223 |
| 5% | £4,092 | £4,384 | £4,677 |
| 6% | £4,510 | £4,832 | £5,154 |
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.
Over the full 25 years the totals are large. At an example 4% you would repay about £1,108,457 on £700,000 and £1,266,808 on £800,000, assuming the rate never changes.
Interest only payments on £700k, £750k and £800k
On interest only, the monthly payment covers the interest and nothing else. It is a lot lower, but the full loan is still owed at the end of the term.
| Example rate | £700,000 | £750,000 | £800,000 |
|---|---|---|---|
| 3% | £1,750 | £1,875 | £2,000 |
| 4% | £2,333 | £2,500 | £2,667 |
| 5% | £2,917 | £3,125 | £3,333 |
| 6% | £3,500 | £3,750 | £4,000 |
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.
How the term changes the monthly payment
A longer term lowers the monthly payment because the loan is spread over more months. You pay interest for longer, so the total cost goes up. How long a term a lender will offer depends on your age at the end of it and your plans for retirement.
| Term, at an example 4% | £700,000 | £750,000 | £800,000 |
|---|---|---|---|
| 25 years | £3,695 | £3,959 | £4,223 |
| 30 years | £3,342 | £3,581 | £3,819 |
| 35 years | £3,099 | £3,321 | £3,542 |
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 4.5 to 5.5 times income, a £750,000 loan points to an income of roughly £136,364 to £166,667, lender by lender.
Borrow £700,000 with a 25% deposit and the price is £933,300, past the £925,000 point where stamp duty rises to 10%.
Interest only and part and part are more common at this size, and lenders want to see how the loan will be repaid.
What salary do you need for a £700k to £800k mortgage?
Across my panel, 4.5 to 5.5 times income is the usual range lenders accept. I have placed a case at 6 times income, but that was one application on its own facts. At this size many buyers are borrowing on two incomes, and lenders add joint incomes together before applying the multiple. Loans, car finance, childcare and other regular commitments bring the figure down. The multiple is also only a ceiling: each lender runs its own affordability model on your income and outgoings, so the answer is lender by lender.
| Income multiple | £700,000 | £750,000 | £800,000 |
|---|---|---|---|
| 4.5 times | £155,556 | £166,667 | £177,778 |
| 5 times | £140,000 | £150,000 | £160,000 |
| 5.5 times | £127,273 | £136,364 | £145,455 |
| 6 times | £116,667 | £125,000 | £133,333 |
Higher earners can often use a high street lender’s premier range, which is the set of accounts some lenders keep for higher earners. I recently placed two NHS doctors on one of these ranges and the offer came through inside two weeks. That is one case, not a rule. Every lender assesses each application on its own facts.
How much deposit and stamp duty on a £750k mortgage?
The table keeps the loan at £750,000 and changes the deposit, so a bigger deposit here means a more expensive home. First time buyer relief stops at £500,000, so none of these prices qualify for it.
| Deposit | House price | Deposit amount | Stamp duty, home mover | Stamp duty, first time buyer |
|---|---|---|---|---|
| 10% | £833,300 | £83,300 | £31,665 | No relief (price over £500,000) |
| 15% | £882,400 | £132,400 | £34,120 | No relief (price over £500,000) |
| 25% | £1,000,000 | £250,000 | £43,750 | 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.
Where the £925,000 stamp duty band starts
Stamp duty on a main home is charged in slices. The slice from £250,001 to £925,000 is taxed at 5%, and every pound above £925,000 is taxed at 10%. Borrow £700,000 with a 25% deposit and the price is £933,300. Stamp duty on that, for a home mover, is £37,080, of which £830 comes from the £8,300 above £925,000.
On £800,000 the line is passed with a 15% deposit as well: the price is £941,200 and stamp duty is £37,870. If you are close to £925,000, it is worth knowing where the line sits. Questions about your own tax position are for your solicitor or accountant.
How lenders look at larger mortgages
At this size an application is often looked at by an individual underwriter rather than only a scoring system. That can help where income is not straightforward, such as bonus, allowances or several sources, but it also means more questions about how the income is made up and how the loan will be repaid. I also place cases with private banks, and each high street lender and private bank has its own criteria for larger loans.
Speak to an expert
Comparing £700,000 with £800,000? Send me your income, deposit and the price range you are looking at, and I will show you what each figure looks like, lender by lender.
Repayment, interest only or part and part?
Repayment has the highest monthly payment and clears the loan by the end of the term. Interest only has the lowest monthly payment, but the whole loan is still owed at the end. For residential interest only, lenders ask for a repayment method and/or evidence that your earnings continue into retirement. My page on interest only mortgages covers what lenders accept.
Part and part splits the loan between the two. On £750,000, with £400,000 on repayment and £350,000 on interest only, the monthly payment at an example 4% is about £3,278 over 25 years. At the end, the £350,000 interest only part is still owed.
Illustration only. These figures are worked out on a £750,000 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.
If your figure sits a little lower, the same tables for a £600k mortgage and a £500k mortgage are on their own pages. For larger loans, my page on high value mortgages in Hampshire goes further. My fee is a flat £350, payable on mortgage offer, whatever the loan size, and I work with 120+ lenders.
Which figures apply to you?
The tables show how the numbers move. Which loan size, term and repayment method fits you depends on your income, your deposit, your plans and how you weigh a lower monthly payment against a lower total cost. Working that out is what an advice appointment is for. I give the advice and the decision stays yours. 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.
A recent case at this loan size: two NHS doctors, £705,500 on repayment, offer in two weeks.
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.
