£100,000 Mortgage: Repayments & Income You Need

How Much Is a £100,000 Mortgage Per Month? Everything You Need to Know

Thinking about taking out a £100,000 mortgage and wondering how much it would cost you each month? You’re definitely not alone. At Mortgage Bridge, this is one of the most common questions we get from clients, and it’s important to understand your potential repayments before taking the next step.

Your monthly payments will vary depending on your interest rate, the term of your mortgage, and whether you go for a repayment or interest-only option.

For example:

  • On a 25-year term at 5%, you’d pay around £584 per month.
  • On a 30-year term, it would be around £536 per month.
  • On a 15-year term, you’d be looking at around £790 per month.

If you’re considering an interest-only mortgage, you’d pay around £417 per month at 5%, but remember, you’ll need a plan in place to repay the £100,000 at the end of the term.

We’re here to help you work out the most suitable option based on your circumstances, especially if you’ve got complex income or past credit issues.

How Much Deposit Do I Need for a £100,000 Mortgage?

We get asked this a lot: “How much deposit do I need for a £100,000 mortgage?”

Here’s a quick guide:

  • A 5% deposit = £5,000
  • A 10% deposit = £10,000
  • A 15% deposit = £15,000

Your deposit size affects your monthly payment and the rates available to you. If you’ve got past credit issues, some lenders might require a larger deposit, typically 15–20%, but we can explore which lenders might consider your situation with lower deposits too.

What Salary Do I Need to Get a £100,000 Mortgage?

Wondering what income you need for a £100,000 mortgage?

Lenders generally use income multiples, around 4–4.5 times your income. So, for a £100,000 mortgage:

  • At 4.5x, you’d need around £22,222 a year.
  • At 4x, you’d need around £25,000 a year.

Your affordability will also consider your other commitments like loans, childcare costs, and outgoings. If you’ve got questions about your specific circumstances, we’re always happy to run the numbers for you.

Can I Get a £100,000 Mortgage with Bad Credit?

Yes, you absolutely can, and it’s something we specialise in at Mortgage Bridge.

If you’ve had defaults, CCJs, or missed payments, it doesn’t automatically mean you can’t get a mortgage. Lenders will look at when the issues happened, your deposit, and how you’ve managed your money since.

We’ll guide you through your options and show you which lenders are more flexible with credit history, so you can see what’s possible.

Can I Get a £100,000 Mortgage if I’m Self-Employed?

If you’re self-employed or have complex income, getting a mortgage can feel more challenging, but it doesn’t need to be.

Lenders will typically want to see 1–2 years of accounts or SA302s, and some will consider your most recent year if your income has increased.

We work with many lenders who understand complex income, so if you’re self-employed, we can help you find a mortgage that fits your situation.

What Are the Monthly Repayments on a £100,000 Mortgage?

Here’s a quick snapshot of what repayments could look like on a £100,000 mortgage over 25 years at different interest rates:

  • 3%: £474 per month
  • 4%: £528 per month
  • 5%: £584 per month
  • 6%: £644 per month

Your exact payments will depend on your rate and term, but this gives you a rough guide to help you plan your budget.

Should I Choose a Fixed or Variable Rate for a £100,000 Mortgage?

Choosing between fixed or variable can impact your repayments and future budgeting.

  • Fixed rates give you payment certainty for a set period.
  • Variable rates may save you money if rates fall but can increase if rates rise.

Many clients prefer fixed rates for peace of mind, especially if they’re budgeting carefully, but we’ll talk through your goals and find the most suitable option for you.

What Other Costs Should I Budget for with a £100,000 Mortgage?

Apart from your monthly payments, here’s what else to budget for:

  • Legal fees (typically £500–£1,500)
  • Valuation fees (often free on some products)
  • Lender fees (which can be added to the loan)
  • Buildings insurance (mandatory with a mortgage)

We’ll give you a clear breakdown of costs so you know what to expect before you commit.

Can I Overpay on a £100,000 Mortgage to Clear It Faster?

Yes, most lenders will let you overpay up to 10% of your mortgage balance each year without penalties.

Even an extra £100 per month can shave years off your mortgage term and save you a significant amount in interest over the term.

If you’re thinking about making overpayments, we can help you see the impact on your term and interest savings.

How Do I Qualify for a £100,000 Mortgage?

To qualify for a £100,000 mortgage, you’ll need:
✅ Proof of income
✅ A suitable deposit
✅ A credit profile that meets lender criteria
✅ Stability in your income and outgoings

We can help you prepare, review your affordability, and guide you through your application step by step.

Frequently Asked Questions About £100,000 Mortgages

How much deposit do I need for a £100,000 mortgage?
At least 5% (£5,000), but a larger deposit often helps with rates and approvals.

Can I get a £100,000 mortgage with defaults on my credit file?
Yes, many lenders will consider you, especially if you have a reasonable deposit and your credit issues are historic.

What salary do I need for a £100,000 mortgage?
Roughly £22,000–£25,000 depending on your other commitments.

Can I get a £100,000 mortgage on a single income?
Yes, provided your income and outgoings fit within the lender’s affordability calculations.

What are the repayments on a £100,000 mortgage over 25 years?
Between £474 and £644 per month, depending on your interest rate.

Can I get a mortgage if I’ve missed payments before?
Yes, options are available, and we can help you find the most suitable lender.

Should I get a fixed or variable rate for a £100,000 mortgage?
It depends on your risk tolerance and budget preferences. We’ll help you decide based on your plans.

Ready to See What’s Possible?

Thinking about a £100,000 mortgage? Whether you’ve got a perfect credit file, complex income, or past credit issues, we’re here to help you navigate the process clearly and confidently.

At Mortgage Bridge, we’re specialists in finding the most suitable mortgage for your situation.

Get in touch with us today to see what’s possible.