If you are not on our Standard Variable Rate (which has no restrictions on the amount you can overpay), there may be a maximum amount you can overpay each year without incurring an Early Repayment Charge. If you need more information on these terms please have a look at your recent mortgage offer, or give us a call on the number below.
To explain how we’ve worked out your potential savings, we’ve made the following assumptions:
- How much you pay is based on what you’ve told us or your previous monthly payment
- You’ll make the same monthly overpayments over the duration of your mortgage term
- Your interest rate will not change over your mortgage term
- Months are 12 equal lengths so the monthly interest will not change
- For display purposes, we’ve rounded up your repayment amount to the nearest £1
- The possible reduction in time to repay your mortgage is shown in years and months – this is rounded up or down
- If you choose not to log in then your results will be based on the information you’ve given us
- Please note if you would like to change the term of your mortgage, a term amendment application form must be completed and an admin fee of £35 must be paid
Please note this calculator should be used as a guide only. It won’t give you a definite figure of how much interest or time you could save paying back your mortgage. It also doesn’t take into account any charges for early repayments and is based on a capital repayment mortgage only. It doesn’t include all the information you need to compare mortgages, so please ask for a mortgage illustration before choosing a mortgage.
Your home or property may be repossessed if you do not keep up repayments on your mortgage.