Loan Repayment Information

Welcome to LoanTutor, where you can teach yourself about different types of loans, how they are repaid and how much they cost. On the left, you will see a list of our LoanTutor Tools - simple to use calculators that help you to understand the numbers behind loans, and to see what interest rates and loan terms mean to you. Below, you can read more about the loan information and articles which are available on this site.

Student Loan Repayments

Student Loans are administered by the Student Loans Company (SLC) and are repaid according to how much you earn. The repayments are taken automatically from your pay each month, like income tax and National Insurance. If your course starts after 1st September 2012 the repayments are calculated differently. To see how much the repayments will be and how long they will go on for, click to learn more about student loan repayments.

Normal Loan Repayments

Of course, you could take out a loan to make a large purchase, to cover some unexpected costs, or to pay off an expensive overdraft. Use our loan repayment calculator to see how the monthly payments change when you change the amount you borrow, or the time taken to repay. You can also see what the total cost of the loan will be and how you can save money by repaying the loan more quickly.

Mortgage Repayments

Although most of us try to get as free from debt as possible the reality is that for most people, if you want to buy a house, you will have to do it by taking out a mortgage. A mortgage is a special type of loan, taken out for a long period of time (typically 25 years), specifically to purchase a house. In most cases, the amount you can borrow is tied to the value of the house you are purchasing and your income. Using our tool, you can compare different types of mortgage and see how much they cost with different interest rates, loan periods and amounts.

Offset Mortgage Repayments

If you have some savings in the bank, they could be working for you by being offset against your mortgage balance. This can either reduce your monthly mortgage payments or help you repay your mortgage more quickly. Have a look at our offset mortgage calculator to learn more about how you could save money on your mortgage by getting your savings to work for you.

Debt Consolidation Loans

A popular way to reduce the monthly and overall cost of a number of debts is to take out a debt consolidation loan. In this situation, a lender agrees to repay some or all of your existing debts, the total cost of which you then repay to that lender. They will charge you interest on this loan, but it might end up cheaper than repaying your debts individually. Use our debt consolidation tool to see whether such a loan could be useful for you.


The information and calculators / tools on this website are for illustrative purposes only. No guarantee is given or implied for the accuracy of information provided or of the calculations performed. Some lenders may charge additional fees for taking out loans or on completion of the loan term - these are not included in any of the LoanTutor tools.

Consult a qualified professional financial advisor before making any financial decisions.