Mortgage overpayment calculator

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.

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 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.

If you'd like to find out more about overpayments and how making overpayments could affect your mortgage, head over to our overpayments page.

Make overpayments on your mortgage

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 details can be found by logging in to Mortgage Manager or 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.