Mortgage Overpayment Calculator

See how overpayments can save you thousands - including early repayment charges

Mortgage & Overpayment Details

Current Mortgage

Outstanding Balance
£
Interest Rate
%
Remaining Term
Regular Monthly Payment
Enter balance, rate and term above

Calculated from balance, rate and term

Overpayment Strategy

Extra Payment Amount
£
Payment Frequency
Start Overpayments After

Early Repayment Charges (ERC)

Do you have Early Repayment Charges?
ERC Schedule by Year
ERC %
%
ERC %
%
ERC %
%

About Early Repayment Charges: Most UK mortgages allow 10% overpayment per year without fees. ERCs typically apply during fixed-rate periods and decrease over time. Check your mortgage terms for exact limits.

Results update automatically as you change values.

Overpayment Savings Analysis

Enter mortgage details to calculate overpayment savings

Benefits of Overpayments

  • ✓Reduce total interest paid over mortgage life
  • ✓Pay off mortgage years earlier
  • ✓Build equity faster
  • ✓Achieve mortgage-free status sooner

Overpayment Strategies

  • ✓Monthly extra payments for consistent progress
  • ✓Annual lump sums from bonuses or tax refunds
  • ✓Quarterly payments for flexibility
  • ✓Increase payments after raises

Important Considerations

  • ✓Check for early repayment charges (ERC)
  • ✓Verify overpayment limits with lender
  • ✓Consider emergency fund first
  • ✓Review if you have higher-interest debt

Important Information

This calculator provides estimates based on standard mortgage amortization calculations. Actual results may vary based on:

  • Lender-specific terms and conditions
  • Early repayment charges or overpayment restrictions
  • Changes in interest rates during the mortgage term
  • Additional fees or administrative costs
  • Tax implications and relief eligibility

Always consult with your lender and a qualified financial advisor before implementing an overpayment strategy. This tool is for educational purposes only.