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UK mortgages use monthly compounding (monthly rate = annual rate / 12). Standard repayment: payment = PV × r(1+r)^n / ((1+r)^n − 1). Interest-only: payment = PV × monthly rate. Stamp Duty Land Tax (SDLT) applies in England: 0% to £250k, 5% to £925k, 10% to £1.5M, 12% above. First-time buyers have higher exemptions. Scottish LBTT and Welsh LTT use different bands.
Principal and interest only—no taxes, insurance, PMI, or HOA. Rates and offers vary; verify with a lender.