Paying a little extra each month — or a one-off lump sum — cuts the interest you'll pay and can shave years off your mortgage. See how much you'd save.
The interest rate on your mortgage right now. We assume it stays the same for the rest of the term — in reality your rate is likely to change when your current deal ends, so treat this as a guide.
How many years are left on your mortgage. This is the time remaining, not the original term you took out.
Monthly adds the same extra amount to every payment. One-off lump sum applies a single extra payment today. Both reduce the balance faster, so you pay less interest overall.
Most lenders allow up to 10% of the balance per year without penalty — check your mortgage offer first.
Most lenders allow up to 10% of the balance per year without penalty — check your mortgage offer first.
Early repayment charges (ERCs) can apply if you overpay more than your lender's penalty-free limit — often 10% of the balance a year — while you're inside a fixed deal. Always confirm your limit before overpaying.
Early repayment charges (ERCs) can apply if you overpay more than your lender's penalty-free limit — often 10% of the balance a year — while you're inside a fixed deal. Always confirm your limit before overpaying.
The total interest you'd avoid paying over the life of the mortgage by overpaying — the difference between paying the normal amount and overpaying.
How much sooner your mortgage would be paid off. Overpaying clears the balance faster, so the term shortens.
What you'd pay if you just made your normal monthly payment for the full remaining term — the figure to beat.
We work out your normal monthly payment for a repayment mortgage from your balance, rate and remaining term.
We run the mortgage month by month twice — once at the normal payment, once with your overpayment — until each is paid off.
The difference in total interest is your saving, and the difference in months is the time knocked off the term.
Payam Azadi explains when overpaying your mortgage makes sense — and when keeping the cash, offsetting or clearing other debt could leave you better off.
Overpay, offset or remortgage — what's right for you?
Whether overpaying is the smart move depends on your rate, your savings and your plans. A regulated broker will weigh it up with you — that's what we're here for.
This calculator is a guide. The figures shown are illustrative and based on the inputs you provide — they are not a quote, a mortgage offer, or financial advice. Results assume your interest rate and overpayment stay the same for the rest of the term, which is rarely the case in real life — when a fixed deal ends your rate usually changes. Overpaying may not be the right choice if you have higher-interest debt or no emergency savings. Lender criteria and interest rates change frequently, and your individual circumstances may produce different results.
Niche Advice Limited accepts no responsibility for any decisions made on the basis of this calculator. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority (FCA Reference: 750263). Your home may be repossessed if you do not keep up repayments on your mortgage.
The figures shown are estimates based on the inputs you provide — check any figure with your lender before acting on it. Lender criteria and interest rates change frequently.
"How to use this calculator" — short video coming soon.