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Part and Part Mortgage Calculator

If you have an Interest Only mortgage, your mortgage payments only pay the monthly interest due. The amount you originally borrowed does not reduce, which means that at maturity of your loan, you will need to have funds available to repay the total amount borrowed.

If you have an investment in place to repay your mortgage, we recommend you take independent financial advice to ensure this will be sufficient to clear the balance. The only way to guarantee that your mortgage balance will be paid off in total at the end of the term is by converting to a Repayment mortgage, where your monthly payments are used to both pay the monthly interest due and reduce your outstanding balance.

However, we understand that switching from an Interest Only mortgage to a Repayment mortgage can represent a significant increase in monthly outgoings, which may not be possible for many people; therefore we are able to offer our customers the option of switching to a Part and Part mortgage.

With a Part and Part mortgage, a proportion of your mortgage will be based on Repayment and the other proportion on Interest Only. Whilst this will not guarantee your mortgage balance will be paid off at the end of the term, you will at least know that you are reducing the debt you owe.

This can be a more affordable approach for some people to help them transfer from an Interest Only mortgage to eventually paying off their balance.

To help you understand how much you could afford to pay on a Part and Part basis, and what impact it would have on your mortgage balance, we have created a simple calculator to provide estimated costs in relation to outstanding balance, remaining term and interest rate.

If you would like more information about Interest Only mortgages, The Money Advice Service is a free, unbiased and independent source that is available to everyone.

How to apply for a Kensington mortgage

We work with mortgage advisers to ensure you receive the best service and would always recommend that you obtain appropriate advice before taking out any mortgage. 

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