Calculate Your Mortgage Overpayment Savings
Discover how extra mortgage payments can save you thousands in interest and reduce your mortgage term significantly. Our UK overpayment calculator helps you understand the powerful impact of additional payments on your mortgage. Whether you're considering regular monthly overpayments, a lump sum payment, or both, see exactly how much interest you'll save and how many years you'll cut from your mortgage term. Use alongside our repayment calculator to compare standard payments with overpayment scenarios, and our mortgage term calculator to explore different term strategies for maximum savings.
Enter your mortgage details and overpayment amount to see potential savings. Our calculator shows you exact interest savings, time reduction, and warns you about the 10% annual overpayment limit to help you avoid early repayment charges.
Essential information about UK mortgage overpayments and their benefits
Most UK lenders allow you to overpay up to 10% of your outstanding mortgage balance each year without penalty. However, this can vary by lender and mortgage type, so check your specific terms.
This depends on your mortgage rate versus potential investment returns. Generally, overpay if your mortgage rate exceeds what you could earn elsewhere, but ensure you have an emergency fund first.
Yes, many lenders offer the option to either reduce your mortgage term or lower your monthly payments when you overpay. Reducing the term saves more interest overall, while lower payments improve monthly cash flow.