See how much you could save

Mortgage overpayment calculator

What are your options?

Overpayment calculator

Important information

What are your options?

How much can I overpay on my mortgage?

If you’re on a fixed or tracker rate product, you can pay up to 20% of your outstanding balance for each of your sub-accounts before an Early Repayment Charge (ERC) will apply. If you exceed your allowance, you’ll have to pay an ERC on the amount over 20%. To find out what this means for you, log in to Manage your Mortgage and select “Make an Overpayment”.
If you’re on our Standard Variable Rate (SVR), there’s no limit to how much you can overpay, and there’s no ERC.

Regular overpayment

This is a regular payment you make every month on top of your monthly direct debit.
You must continue to make your normal mortgage payment in full each calendar month.
If you pay more than 20% of your outstanding balance, we’ll cancel your regular overpayment so that you don’t pay an ERC.
Monthly overpayments will reduce your mortgage balance and could help save you interest.
You can set-up, amend, or cancel your regular overpayment by logging in to Manage your Mortgage.

Lump-sum overpayment

This is an additional payment that you can make at any time.
You can make lump sum payments as often as you like, but if you exceed your overpayment allowance, you’ll have to pay an ERC on the amount over 20%.
If you pay £1,000 or more, your monthly payment will be recalculated.
If you want to pay off your mortgage or you have less than £500 remaining, you’ll need to request a redemption statement by logging in to Manage your Mortgage and selecting the Redemption menu.

Mortgage overpayment calculator

Want to make an overpayment and understand how this could impact your mortgage payments and interest? Pop your details into our simple overpayment calculator and we’ll show you just that. Here are your overpayment options:

Select an option to see how you could save:

Pay off mortgage earlier

Reduce monthly payments

A lump sum overpayment can lower your monthly repayments.

Paying a lump sum is a way to lower your monthly payments.

Mortgage balance *

Please enter your mortgage balance

Current interest rate % *

Please enter current interest rate on your mortgage

Extra monthly payment

Please enter extra monthly payments

and/or

lump sum overpayment

Please enter lump sum payment

Calculate

*This information is required.

Your current monthly repayment is

New monthly repayment

Amount saved each month

Potential mortgage reduction

Amount of interest you could save

Your current monthly repayment is

Recalculate

Important things to remember

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.

Frequently asked questions

How do I make an overpayment on my mortgage?

There are two ways to make an overpayment to your mortgage, either by making a lump sum payment or by making regular extra monthly overpayments. You can use our overpayment calculator found in our online service portal Manage Your Mortgage, to help you work out how much you can save. Just select 'My payments and services' from the main menu and then choose 'My payments'
You can make a lump sum overpayment by also logging in to Manage Your Mortgage. Just select 'My payments and services' from the main menu. Underneath the sub menu 'My payments' choose the 'make a payment (Overpayment, missed mortgage payment or manual mortgage payment)' option and select 'lump sum overpayment'.
When you use this service, you’ll see all the information you need, including your remaining annual allowance if you have a fixed interest rate. If you make a lump sum overpayment, we may recalculate your contractual monthly payment to reflect the reduced balance. If we do reduce your monthly payments, the term of your mortgage will stay the same and you will pay off your mortgage in the same amount of time. You’ll see any impact on your monthly payments before you agree to make a payment.
If you would prefer to pay your mortgage off sooner than planned by making an application to reduce the term, please call us and we can take you through the process.

Phone Number: 0345 302 0190
Relay UK: 18001 0345 302 0190
For more information on accessibility, please visit our accessibility pages.
Open Monday to Thursday 8am - 8pm, Friday 8am - 6pm, Saturday 9am - 4pm (excluding public holidays)
Calls may be recorded.

How long will it take before a mortgage overpayment is applied?

If you have made an overpayment by card using Manage Your Mortgage, the payment is usually applied within a few hours.

If you have made an overpayment using another method such as a bank transfer or standing order, please allow up to 5 working days for your overpayment to be applied to your mortgage balance and reflected in your Loan to Value.

If you’re reducing your balance so that you can switch to a lower priced deal, you should make your overpayment at least 5 working days before your Branch or Telephone appointment with one of our Mortgage Advisers, or, using our Online switching service.

How are overpayments applied if my mortgage has sub accounts?

Regular monthly overpayments

Your overpayment(s) will be allocated to your mortgage sub account(s) in the same way that your normal monthly payment is split across your sub-accounts.

Example: If 40% of your monthly payment is allocated to sub-account 1, with the remaining 60% allocated to sub-account 2, any overpayments will be split in the same way.

If you wish to change how your overpayment(s) are allocated, please call us.

Lump sum payment

If no instructions are provided, your lump sum payment will be allocated to your mortgage sub account (s) in a way that is most beneficial to you.

For example, we will allocate the lump sum payment to your account with the highest interest rate first. Please note, if you have a mixture of Interest Only and Capital Repayment sub accounts, we will allocate the lump sum payment to the Interest Only account with the highest interest rate first. If you wish to change how your overpayment(s) are allocated, please contact us.

0345 30 20 190, Relay UK - 18001 0345 30 20 190. Open Monday to Friday 8am - 8pm, Saturday 9am - 4pm (excluding public holidays). Calls may be recorded.