Mortgage overpayment calculator
Our mortgage overpayment calculator shows you how making overpayments could reduce your mortgage term and interest you’ll pay.
Find out what making overpayments could do for your mortgage
About your result
The mortgage overpayment calculator is for illustrative purposes and does not take into account any overpayment restrictions or Early Repayment Charges.
The calculator also assumes the mortgage rate used will apply for the term stated and cannot account for future changes to interest rates or your product.
Regular mortgage overpayments
We calculate the regular monthly mortgage overpayment from the period you enter. This isn't affected by any lump sums paid. The calculation assumes that you keep making regular overpayments. The overpayment amount may differ in the final month when the remaining balance is cleared.
Lump sum overpayments
Lump sum payments are assumed to be made at the very start of the mortgage term remaining. We also assume that you’ll continue to make the original monthly payment after this.
About making overpayments
If you'd like to find out more about overpayments and how making overpayments could affect your mortgage, head over to our overpayments page.
If your mortgage is interest only, overpaying will reduce the capital due at the end of your mortgage term. For any repayment type, we assume that:
- your interest rate will stay the same over time
- any remaining months are rounded to the nearest whole month
- interest is calculated and charged monthly and will be shown to the nearest 2 decimal places, and
- monthly interest is charged on the basis of 1/12 of the annual interest rate.
The results are not guaranteed and could be considerably different if interest rates change. Remember that variable rates can rise and fall and fixed rates are usually for a specific period.
Early Repayment Charges (ERCs)
No ERCs or mortgage exit admin fees are included in these calculations.
Early repayment details can be found in your latest mortgage offer. If you can’t find this, your annual mortgage statement also shows any applicable ERCs at the time it was issued.
Get in touch and we'll be happy to help.