See how many years and how much interest a regular monthly overpayment actually saves you, compared with sticking to your standard payment.
| Standard payment only | With overpayment | |
|---|---|---|
| Monthly payment | £0 | £0 |
| Payoff time | — | — |
| Total interest paid | £0 | £0 |
| Total amount paid | £0 | £0 |
Most UK lenders cap penalty-free overpayments at around 10% of the outstanding balance per year on fixed-rate deals, so a very large monthly overpayment in this calculator may not actually be achievable without triggering an early repayment charge. Check your mortgage offer for your own lender's overpayment allowance before committing to a figure, and remember this tool assumes your rate stays constant for the whole term, which in reality it won't.
This calculator is illustrative only and does not constitute financial advice. Always confirm figures with a lender, broker or HMRC before making a decision.
Property Pundit UK