Mortgage overpayment calculator
Even small monthly overpayments can shave years off your mortgage and save thousands in interest. See the impact of regular overpayments and one-off lump sums.
Interest saved
£36,280
Mortgage paid off 6y 1m earlier
Base monthly payment
£1,112
New payoff time
18y 11m
Original payoff
25y
Total interest (new)
£97,219
Most fixed-rate mortgages allow up to 10% overpayment per year without early repayment charges. Always check your product's terms before making large overpayments.
Things to check before overpaying
- Your annual overpayment allowance. Most fixed deals allow up to 10% of the balance per year without an early repayment charge.
- Where the overpayment goes. Confirm with your lender whether overpayments reduce your term or your monthly payment — the term reduction usually saves more interest.
- Emergency savings first. Make sure you've kept aside a buffer for unexpected costs before tying money up in your mortgage.
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