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Offset Mortgage calculator
With an Offset Mortgage we’ll take your savings into account when working out your interest. Say you have a mortgage of £100k and £20k in savings. You’ll only pay interest on the difference – which in this case is £80k. Enter your details below to see how much an Offset Mortgage could save you in interest payments.
How we calculate these savings
- the calculator assumes your interest rate will stay the same for the term of your mortgage
- we’ve evened out the months so they’re all the same length – 30.4 days each – so monthly interest will be consistent
- repayments are rounded up or down to the nearest pound
- we’ve rounded time saved down to the closest month
- interest is calculated daily and added monthly
- interest saved is rounded up or down to the nearest pound
- the calculator assumes the total savings balance is held in a linked account(s) and remains constant throughout the term of the mortgage
- if your total savings increase or decrease on an adhoc basis, your monthly interest payments will also change respectively.
Please note – the information here is for illustrative purposes only and isn’t a precise calculation. This information doesn’t include all of the details you need to either make an overpayment or choose a mortgage. Make sure you read the separate Mortgage Illustration before you choose a mortgage.
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
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