Mortgage Overpayment Calculator
See how many years — and how much interest — a regular monthly overpayment takes off your mortgage.
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Illustrative estimates on a repayment mortgage with a constant rate. Many lenders cap penalty-free overpayments (often 10% of the balance a year) — check yours before setting up a regular overpayment.
Why overpayments punch above their weight
Every pound you overpay comes straight off the capital, so all future interest is charged on a smaller balance. Early in a mortgage — when most of each payment is interest — that effect compounds hard, which is why modest regular overpayments can remove years from the term.
Compare the saving against your best savings rate: if your mortgage rate is higher than what savings pay after tax, overpaying usually wins.