Remaining Mortgage Balance Calculator
This remaining mortgage balance calculator shows what is still owed on a loan after a number of monthly payments. It also shows how much of the payments so far has gone towards the amount borrowed and how much has gone towards interest.
You only need four figures: the original loan amount, the interest rate (APR), the original term in years and the number of payments made so far in months. The results are a guide to the maths, so check the final figure with your lender or bank before making decisions.
How to use the remaining mortgage balance calculator
- Enter the original loan amount in £, as it was when the mortgage started.
- Enter the interest rate (APR) as a percentage, for example 6.5 for 6.5%.
- Enter the original term of the mortgage in years.
- Enter the number of payments you have made so far, in months.
- Read the balance still owed, which is the figure you would still need to repay to clear the loan.
- Check the monthly payment, principal paid so far and interest paid so far to see how the payments have been split.
The formula
- Monthly payment = P × r ÷ (1 − (1 + r) ^ −n), where P is the amount borrowed, r the annual rate ÷ 12 ÷ 100 and n the number of months
- Balance after k payments = P × (1 + r)^k − payment × ((1 + r)^k − 1) ÷ r
- Interest paid so far = payment × k − principal paid
Worked example
The figures below are made up to show the maths. They are not current prices, rates or product figures.
| Original loan amount | £300,000.00 |
|---|---|
| Interest rate (APR) | 6.5% |
| Original term | 30 years |
| Payments made so far | 60 months |
- Balance still owed £280,832.93
- Monthly payment £1,896.20
- Principal paid so far £19,167.07
- Interest paid so far £94,605.18
Tips for an accurate answer
- Count payments in months, not years. If you have made five years of payments, enter 60.
- Use the original loan amount and original term, not the current figures, because the calculator works forward from the start of the loan.
- If you have overpaid, changed your rate or moved products, the result will differ from your lender's statement, so compare the two.
- Interest rates shown here are treated as fixed for the whole term, so variable-rate mortgages may give different results.
- Ask your lender for an up-to-date redemption statement if you need an exact figure for a sale or remortgage.
Questions people ask
How do I calculate my remaining mortgage balance?
Enter your original loan amount, interest rate (APR), original term in years and the number of payments made so far in months. The calculator then shows the balance still owed after those payments. For an exact figure, confirm it with your lender.
How can I calculate my mortgage balance at the end of my term?
Enter the original term in years and set the payments made so far to the full number of months in that term. On a standard repayment mortgage the balance at the end should be zero, so the result will show whether the maths matches your loan.
Can I use this remaining mortgage balance calculator for an HSBC mortgage?
Yes, as long as you enter your original loan amount, rate, term and payments made so far. The result is a calculation from those figures, so check it against your HSBC statement for the exact balance.
Does this calculator include fees or early repayment charges?
No. It only works out the balance from the loan amount, rate, term and payments made. Any arrangement fees, early repayment charges or overpayments are not included, so ask your lender for the exact amount needed to clear the loan.
Why is the balance still high after several years?
On a repayment mortgage, early payments cover mostly interest, so the amount borrowed reduces slowly at first. The worked example shows this, with a large share of the payments so far going to interest rather than to the loan itself.
What does the principal paid so far mean?
It is the part of your payments that has reduced the amount you borrowed. Adding it to the balance still owed should give you the original loan amount.
What does the interest paid so far mean?
It is the total of the payments made so far, minus the amount they have reduced the loan by. It shows the cost of borrowing up to this point.
Can I use this for an interest-only mortgage?
The calculator assumes each payment is split between interest and the amount borrowed in the standard way. An interest-only mortgage works differently, so check the figures with your lender.
Sources
This calculator uses the standard loan and interest formulas above and the numbers you type. It needs no outside figures.
An estimate from the numbers you enter, worked out with the formula shown. It is maths, not financial advice: your lender or bank has the final figures. Page checked 23 Oct 2026. Read the disclaimer