Mortgage overpayment calculator
Find out how to make a mortgage overpayment with Lloyds and use the calculator to work out how it could reduce your balance.
Use our overpayment calculator
If you have a Lloyds mortgage, you can log in to use the mortgage overpayment calculator to work out how much you could save by overpaying.
You can:
- get accurate results in as little as 2 minutes, based on your mortgage details
- make a one-off overpayment instantly
- schedule a direct debit or standing order for a regular overpayment.
Steps to take
We'll guide you through it.
-
- Log in and select 'Homes' from your account overview.
- From your mortgage overview screen, select the 'Mortgage' button at the top of the screen.
- Choose 'Make and manage payments'.
- Select 'Overpayment calculator' and use the calculator options to view your overpayment allowance.
-
- Log in and select 'Home Wise' from your mortgage options on the account overview.
- From your mortgage overview screen, select the 'Mortgage' button at the top of the screen.
- Choose 'Make and manage payments'.
- Select 'Overpayment calculator' and use the calculator options to view your overpayment allowance.
Banking online
It's simple and safe to manage your mortgage in our app or on our website.
How much could you save?
Let’s say you have a £200,000 mortgage with 25 years left and an interest rate of 5% that stays the same for the whole term. Your monthly payment is about £1,055, which will continue at that level until the mortgage is paid.
Impact of lump sum overpayments
|
Lump sum |
Reduction in term |
Interest saved |
|---|---|---|
|
Lump sum £1,000 |
Reduction in term 2 months |
Interest saved £1,706 |
|
Lump sum £5,000 |
Reduction in term 1 year, 2 months |
Interest saved £8,308 |
|
Lump sum £10,000 |
Reduction in term 2 years, 4 months |
Interest saved £16,080 |
Impact of regular monthly overpayments
|
Monthly overpayment |
Reduction in term |
Interest saved |
|---|---|---|
|
Monthly overpayment £50 |
Reduction in term 1 year, 10 months |
Interest saved £9,800 |
|
Monthly overpayment £100 |
Reduction in term 3 years, 5 months |
Interest saved £18,020 |
|
Monthly overpayment £200 |
Reduction in term 6 years |
Interest saved £31,067 |
You would have to make regular overpayments every month for the whole term to save this much interest.
Remember, these numbers are just an example and a rough guide, not exact figures. Your savings will depend on your interest rate, how much you overpay, and your lender’s rules. Your term won’t automatically shorten. You may have to speak to your lender to arrange this.
Overpaying your Lloyds mortgage
As a Lloyds mortgage customer, you have options when it comes to overpaying your mortgage.
Whether you want to pay a lump-sum or set up regular overpayments, we've got a guide to help you.
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