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Mortgage Overpayment Savings Calculator

Pay more than your agreed monthly payments and you'll clear the debt early and save on interest costs.

How much do you owe on your mortgage?

This is the amount outstanding on your most recent statement - check your paper or online banking to find it, or give your lender a call if you can't.

NB it isn't the same amount you borrowed initially, as each payment you make reduces what you owe.


How long until it is fully repaid?

This is how long until you are completely mortgage free. So if you originally took out a 25 year mortgage five years ago, then enter 20 into here.

This should be on your statement, application info or can be obtained from your lender.

What type of mortgage do you have?

A repayment mortgage means that, over the length of the loan, you will repay the full amount you borrowed as well as some interest.

An interest-only mortgage means you only pay the interest, and once the loan is over (eg, 25 years after you took it out), you still owe the amount you borrowed.

If you don't know which type you have, call your lender to ask.

Enter your current annual interest rate

This should be on your annual statement or the agreement you received when you took out the mortgage. If you can't find it, give your lender a call.

If you are currently on a short-term promotional rate - a fixed-rate deal for example - enter that rate here.


Now for overpayments... do you want to make a one-off and/or a regular payment?

Many mortgage lenders let you make some overpayments without charging you a fee for doing so. There is usually a limit to this though, and if you overpay by more you may be charged.

The limit is usually either a percentage of your normal monthly payment (eg, you can only pay 20% more per month) or a percentage of your outstanding balance (eg, each year you can overpay by up to 10% of the amount you owe in total). Call your lender to check how much you are allowed to overpay by.


Oops! Are you sure? This doesn't look right.

Oops! The overpayments you have chosen will not have an impact on your mortgage repayments.

Compare the best mortgage rates today

The best way to save money on your mortgage is to make sure you are on a cheap deal, rather than paying the standard rate. Use the links below to find out the best offers available right now.


House purchase

First-time buyer

Buy to let

  • How much can I borrow?

    Find out how much you might be able to borrow based on your income.

  • Repayment calculator

    Find out how much your mortgage payments are likely to be.

  • Base rate calculator

    Find out how changes to the Bank of England base rate might affect your mortgage repayments.

Mortgage overpayment calculator

 Making mortgage ‘overpayments’ simply means paying more towards your mortgage than the amount set by your lender.

Your overpayment could be in the form of a one-off one lump sum, or you could pay an extra amount each month on top of your usual repayments.

The aim is to repay the debt more quickly, thus reducing the total amount of interest you pay.

Our mortgage overpayments calculator will show you how much interest you could save by making regular overpayments each month. You might be surprised by how much impact can have.

Some lenders have restrictions on whether you can overpay or not, and by how much, and some might charge an additional fee for early repayment. So remember to check directly with your mortgage lender on their terms and conditions if you wish to make overpayments.

The secret to saving money on your mortgage lies with making sure you’re on the best deal. Once you’ve used the overpayment calculator, be sure to compare mortgage rates to see if you could get a better deal.