MORTGAGE · OVERPAYMENT PLANNER
Mortgage overpayment calculator
See an illustrative repayment term and interest saving when you make the same extra payment each month.
ESTIMATED WITH OVERPAYMENTS
Estimated time until the balance reaches zero
Original estimated term —
Time saved —
Interest without extra payments —
Interest with extra payments —
Estimated interest saved —
How the overpayment estimate works
The calculator applies monthly interest to the remaining balance and then subtracts your regular payment plus the stated monthly extra payment. It compares that schedule with the same balance, rate and payment without the extra amount.
What can change the result?
Variable rates, payment dates, lender rounding, changes to your monthly payment, fees and overpayment restrictions can all produce a different result. Use the balance and rate from your latest mortgage statement for the most useful estimate.
Before you overpay
- Ask whether your deal has an annual overpayment allowance.
- Check for an early repayment charge and when it ends.
- Keep an emergency cash reserve before making money unavailable in your home.
- Confirm that your lender will reduce the term, rather than only lower future payments, if that is your goal.