See how extra payments change your mortgage payoff date.
Estimate interest savings, time saved, and your balance over time when you add a regular monthly overpayment.
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Example scenario
£38,458
Estimated interest saved with a £200 monthly overpayment on the default mortgage.
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Mortgage details
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Results
Estimated interest saved
£38,458
Estimated time saved
5 years 1 months
Current payment
£1,390
With overpayment
£1,590
+£200/month
Current term
25 years
New term
19y 11m
Assumes the rate stays the same and every overpayment reduces the balance immediately.
Projection
Mortgage balance over time
Assumptions to review
Interest rate stays fixed
The estimate assumes the same annual rate for the whole remaining term.
Overpayments reduce balance immediately
Some lenders apply payments differently, so check how your provider handles extra payments.
Fees and limits are not included
Early repayment charges, product fees, and annual overpayment caps can change the decision.
What this estimate suggests
Use the result as a comparison point, then check overpayment limits, cash buffer, and whether remortgaging could change the trade-off.
Useful next steps
Important disclaimer
This calculator provides estimates only and does not constitute financial advice. Mortgage calculations may vary depending on lender terms, overpayment limits, interest rate changes, fees, and repayment structures. Always consult a qualified financial advisor or your mortgage provider before making financial decisions.
Learn the basics
How mortgage overpayments work
Mortgage overpayments are additional payments made on top of your standard monthly mortgage repayment. By reducing your outstanding mortgage balance earlier, you may reduce the total interest charged over the life of the loan.
Even relatively small regular overpayments can potentially save thousands in interest and reduce your mortgage term by several years. This calculator helps estimate how additional monthly payments could affect your mortgage payoff timeline.
Reduce total mortgage interest costs
Pay off your mortgage earlier
Build home equity faster
Create more long-term flexibility
Things to consider before overpaying
Some lenders apply annual overpayment limits or early repayment charges. Before making large overpayments, check your mortgage terms carefully.
You may also want to consider whether paying down your mortgage is the best use of extra cash compared with building emergency savings, investing, or paying off higher-interest debt.
How this calculator helps
- Your estimated interest savings
- How much earlier you could become mortgage free
- Your current monthly repayment estimate
- The long-term effect of monthly overpayments
Related mortgage guides
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