Mortgage Overpayment Calculator
Compare repayments with and without overpayments
Use our overpayment calculator to see how regular overpayments reduce your mortgage term and save you interest. You can toggle between annual and monthly views, and visualize the impact in a side-by-side chart and table.
Bear in mind that these figures are somewhat approximate as they can be affected by nominal fees payable at the end of the loan and the rounding methods applied within a Bank's formula.
Mortgage overpayment schedule calculator
Mortgage Payment Schedule
Cost savings comparison graph
Frequently Asked Questions
How do mortgage overpayments work?
Overpayments are extra payments made on top of your regular monthly mortgage. They reduce your outstanding balance more quickly, which in turn reduces the total interest paid and can shorten your mortgage term.
What are the benefits of overpaying my mortgage?
Making regular overpayments can significantly cut down the interest you pay over time and help you become mortgage-free sooner. Our calculator shows how much interest you could save and how early your mortgage could be cleared.
Can I choose how often I overpay?
Yes. You can simulate monthly, quarterly, or annual overpayments and instantly see the effect on your balance, interest, and repayment term using our calculator.
Will overpaying reduce my monthly payment?
Typically, overpayments reduce the length of your mortgage rather than your monthly payments. The calculator assumes your normal payment stays fixed, while overpayments accelerate the payoff.
Does the calculator include early repayment fees?
No. This tool assumes there are no overpayment penalties. You should check your lender’s terms before making large or frequent overpayments.
Tip: Overpayment calculators can help you compare different repayment strategies before speaking to a mortgage broker or making changes to your loan.