MONEY & EVERYDAY

Mortgage overpayment

See how a regular overpayment could shorten a repayment mortgage.

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How it works

See how a regular overpayment could shorten a repayment mortgage. Fill in the form and choose Calculate. It opens with an example already filled in, so you can see how it works first.

What you need

Balance outstanding (GBP)
Nominal annual interest (%)
Years remaining
Monthly overpayment (GBP)

What you get

Standard payment, New term, Time saved, Interest saved
Copy or save the result

Example

The tool opens with Balance outstanding (GBP): 150000; Nominal annual interest (%): 4.5; Years remaining: 20; Monthly overpayment (GBP): 200.

That gives: Standard payment: £948.97; New term: 15 years; Time saved: 5 years; Interest saved: £21,319.00.

Good to know

Assumes a repayment mortgage, one fixed nominal rate for the whole term and the same overpayment every month. Excludes fees and any early repayment charge or overpayment limit your lender applies. Illustrative arithmetic, not financial or tax advice. Check the assumptions before relying on a result.

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