Pay off your mortgage sooner
Even small overpayments can save you thousands in interest and shave years off your term. See what's possible for your mortgage in seconds.
How overpaying works
When you overpay, the extra money comes straight off your outstanding balance. Because interest is charged on a smaller balance every month, you pay less interest overall — and clear the debt faster.
Reduce the balance
Overpayments are applied directly to the capital you owe, not future interest.
Pay less interest
A lower balance means lower monthly interest — so more of every future payment chips away at the debt.
Finish years early
Keep overpaying and the compounding effect clears your mortgage well ahead of schedule.
Check your overpayment limits first
Many fixed-rate mortgages cap penalty-free overpayments at around 10% of the balance each year. Going over can trigger an early repayment charge. Always confirm the rules with your lender before overpaying.
Important: This calculator provides illustrative estimates only and does not constitute financial advice. Figures assume a constant interest rate and that your lender permits overpayments without charge — many fixed-rate mortgages limit penalty-free overpayments (often to 10% of the balance per year). Always check your mortgage terms and speak to a qualified adviser before making decisions. For free, impartial money guidance visit MoneyHelper.