Mortgage overpayment calculator

See how much interest you'd save, and how much sooner you'd be mortgage-free, by overpaying monthly or as a lump sum.

Mortgage balance£Interest rate%Years remainingMonthly overpayment£One-off lump sum£

Interest saved

£36,280

Mortgage-free sooner by

6 yrs 1 mo

Normal monthly payment

£1,112

New term

18 yrs 11 mo

Balance over time

With overpaymentsWithout overpayments

Estimated value, sold history, energy rating, schools, transport, crime and flood risk in one place.

How much will I save by overpaying £200 a month?: On a £200,000 mortgage at 4.5% over 25 years, you'd save about £36,280 in interest and be mortgage-free 6 yrs 1 mo sooner.
How much can I overpay without a penalty?: Most UK fixed and tracker deals let you overpay up to 10% of the balance each year without an early repayment charge. Check your lender's terms.
Is it better to reduce my term or my payments?: Keeping payments the same and shortening the term saves the most interest. That's what this calculator shows.
Should I overpay or save?: If your mortgage rate is higher than the after-tax return on your savings, overpaying usually comes out ahead. Keep an emergency fund first.

Assumes a repayment mortgage with a fixed rate for the whole term and monthly compounding. A guide only, not financial advice.