Mortgage Overpayment
See how extra payments could save interest and help you pay off your mortgage sooner.
Your mortgage details
See what a little extra could do. Results update as you type.
1. Your current mortgage
The amount you still owe.
Your annual mortgage interest rate.
Remaining term
How long is left on your mortgage.
2. Your overpayments
Extra paid alongside each normal payment.
A lump sum paid straight away.
Estimated interest saved
Over the remaining life of your mortgage
Mortgage-free sooner by
- Normal monthly payment
- —
- With monthly overpayment
- —
- New remaining term
- —
- Estimated payoff
- —
Your mortgage balance over time
View the yearly breakdown
| Year | Without overpayments | With overpayments |
|---|
How we calculate your estimate
The interest rate stays the same throughout. Interest is calculated monthly at one twelfth of the annual rate. Your normal payment stays the same after overpaying, so your mortgage term reduces. The lump sum is paid now; monthly overpayments start with the next payment and continue until the balance clears. The last payment is capped at the amount owed.
Fees, early repayment charges and lender-specific interest calculations are excluded. Dates assume the first monthly payment is one month from today. These results are illustrative, rather than a lender quote or a recommendation to overpay.
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