Overpayment calculator
Estimates years saved and interest avoided when you overpay. Use it before you set up a regular overpayment.
Overpayment calculator
Enter your numbers above. We will compare your current schedule against the same schedule with your overpayments applied.
Next step: book a quick 15-minute call and we will check your figures against over 65 lenders. No credit check, no obligation.
Year-by-year balance comparison
| Year | Without overpayments | With overpayments | Difference |
|---|
Most lenders allow overpayments of 10% of the outstanding balance per year without early repayment charges. Check your lender's specific terms before making large overpayments. This calculator assumes a fixed interest rate over the remaining term and constant overpayments; in practice your rate will change at the end of each fixed period. Think carefully before securing other debts against your property. Your property may be repossessed if you do not keep up repayments on your mortgage. Major Money Matters Ltd is an appointed representative of Sesame Ltd which is authorised and regulated by the Financial Conduct Authority. FCA reference 409534.
How to read this result
The figures show how many months come off your term and how much interest you avoid by overpaying at the level you entered. The savings come from cutting the principal earlier, so each future month accrues less interest.
Most lenders allow a 10% annual overpayment without an early-repayment charge. Some are stricter, some are more generous. Always check your offer or current product terms before you set up a regular overpayment, especially if you are part-way through a fixed-rate deal.
A regular monthly overpayment usually beats a single annual lump, because the principal reduces sooner. The trade-off is liquidity, money you overpay is harder to access than money in a savings account. If your savings rate is materially above your mortgage rate, saving may be the better play. If your mortgage rate is higher, overpaying usually wins.
Worth a five-minute conversation: whether to overpay, switch to a shorter term at remortgage, or hold cash for a deposit on a buy-to-let or upsize. We can run those side by side and tell you which fits your position.
Related guides
When to remortgage
How to time a remortgage around your fixed-rate end, including switching versus product transfer.
Read guideMortgage types explained
Repayment versus interest-only, term length and how the structure affects total interest paid.
Read guideReleasing equity at remortgage
Capital raising on a remortgage. When it makes sense, when it does not, and how lenders treat the use of funds.
Read guideOverpay or remortgage?
A quick call covers both routes. We will run the numbers and tell you which is most suitable for you.
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