Mortgage Overpayment Calculator
Overpaying your mortgage – even by a small amount each month – can cut years off your term and save thousands in interest. Use this calculator to see exactly what a regular monthly overpayment, a one-off lump sum, or both together would do to your balance.
Enter your outstanding balance, interest rate and remaining term, then add the overpayment you are considering. The calculator shows how much interest you would save, how much earlier you would be mortgage free, and how your balance falls compared with staying on your current payment.
Most fixed rate mortgages allow you to overpay up to 10% of the outstanding balance each year without penalty. Overpay more than that while you are tied in and your lender may apply an early repayment charge, so the calculator flags this for you. Results are an illustration based on the figures you enter and assume your rate stays the same for the full term.
If you want the monthly payment on a new mortgage first, use our mortgage repayment calculator.
Your mortgage
Your overpayments
Results are an illustration only. They assume your interest rate and monthly payment stay the same for the whole term, that overpayments reduce the term rather than the monthly payment, and that your lender applies overpayments immediately. They exclude fees and any early repayment charge. Check your own mortgage terms before overpaying.
Could You Be Mortgage Free Sooner?
Thinking about overpaying? A quick conversation can confirm whether overpaying, offsetting, or remortgaging to a better rate would leave you better off.
Leave your details and one of our advisers will review your current deal, your overpayment allowance and any early repayment charges, and set out the most cost effective way to clear your mortgage sooner.