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Mortgage Overpayment Calculator
Use our mortgage overpayment calculator to explore how monthly or one-off overpayments could reduce interest and shorten a repayment mortgage term.
Estimated interest saved
Illustration assumes the rate stays unchanged and overpayments are applied directly to the balance without charges.
How the mortgage overpayment calculator works
Overpaying a repayment mortgage can reduce the outstanding balance sooner. That can reduce future interest and may shorten the remaining term. The effect depends on when you make the payment, the mortgage rate and how the lender applies it.
Check your mortgage terms first
However, some mortgages limit how much you can overpay without an early repayment charge. Your lender can confirm the rules, charges and whether an overpayment will reduce the term, reduce future monthly payments or be handled differently.
For broader background, read MoneyHelper’s mortgages and homebuying guidance. You can also explore our repayment calculator to illustrate regular payments.
On a £200,000 repayment mortgage at an illustrative 5% over 25 years, adding £100 per month could reduce the term and interest. Use the calculator for an estimate, then confirm any action with your lender or mortgage adviser.
Frequently asked questions
Can I combine monthly and one-off overpayments?
Yes, this illustration can model both together. Actual treatment depends on your mortgage conditions.
Does the result include early repayment charges?
No. It does not include charges, fees, changing interest rates or lender-specific rules.
Should I overpay my mortgage?
That is a personal financial decision. Consider your wider circumstances and obtain appropriate advice where needed.
This calculator is a general illustration, not financial or mortgage advice. Results assume a repayment mortgage with a constant interest rate and do not include fees or early repayment charges. Check your mortgage terms before making overpayments. Your home may be repossessed if you do not keep up repayments on your mortgage.
Need Help With Your Mortgage Options?
Where appropriate, S&S Home Journey can introduce you to an appropriately authorised mortgage adviser. That independent adviser provides any regulated advice. You remain free to choose your own mortgage adviser.
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