Overpayment calculator
The overpayments calculator is designed to provide you with an illustration of how much interest you could save and how much quicker you could pay off your repayment mortgage, if you made regular overpayments to your mortgage each month.
The figures provided by this calculator are approximate and are for indication purposes only.
Warning - the information provided by this tool is for illustrative purposes only and is not a precise calculation. This information does not contain all of the details you need to make an overpayment or choose a mortgage. Make sure you read the separate Key Facts Illustration before you choose a mortgage.
Calculator Assumptions
- Interest rate - the calculator assumes that the interest rate will remain the same for the term of the mortgage
- Length of month - months are of equal length and are set at 30.4 days so the monthly interest will not differ
- Rounding of repayment amounts - amounts are rounded up or down accordingly for display purposes
- Rounding of time saved - the time saved is presented as year/month saved. The figure is rounded down to the closest month.
- Interest - interest is calculated daily and added monthly
- Amount of interest saved - interest saved is rounded up or down accordingly for display purposes
- Overpayments - the calculator assumes that the overpayments illustrated remain constant throughout the term of the mortgage and are made on a monthly basis. If overpayments are made on an adhoc basis, this will reduce the amount of interest paid but not the loan term.
- The calculator does not factor in any charges for early repayments.
Warning - the information provided by this tool is for illustrative purposes only and is not a precise calculation. This information does not contain all of the details you need to make an overpayment or choose a mortgage. Make sure you read the separate Key Facts Illustration before you choose a mortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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Follow these three easy steps to start your online mortgage application:
- Search our range of mortgages to find and compare the ones available to you.
- Choose a mortgage that suits your needs.
- Click "Apply" to start your application.
