Go paper-free
Amend paper-free preferences for your statements and correspondence.
Interest Only Mortgage Overpayment Calculator
Use our calculator to work out how overpaying on your interest only mortgage can help reduce your mortgage balance.
The calculator is for illustrative purposes only and is based on some key assumptions, which are shown at the bottom of this page. It should only be used as a guide and provides an indication of both the interest you could save and how much you could reduce your mortgage balance by.
If your mortgage is made up from different parts, then you’ll need to work-out each part separately.
You can find out which interest rates apply to each sub-account via Internet Banking or in your latest mortgage statement from us.
The calculator doesn’t take into consideration any early repayment charges that may apply.
-
We use the following assumptions in the calculations:
- All years are of equal length.
- Interest is calculated monthly.
- Multiple sub-accounts must be calculated individually.
- This calculator can only be used for Interest only parts of your mortgage.
- Estimate of total interest saved is rounded to the nearest pound.
- Estimate of total balance is rounded to the nearest pound.
- The calculator does not take into account any changes in interest rate.
- There will not be any other changes to your mortgage which would result in a recalculation of your monthly payment.
You may also like
