Overpayment calculator
How to use the repayment mortgage overpayment calculator
- Enter your mortgage amount: Input the current loan balance in the "Current mortgage balance" field.
- Enter total overpayment: Input the one-off lump sum overpayment amount in the "Total overpayment" field.
- Enter interest rate: Input your current mortgage interest rate in the "Interest rate" field.
- Enter mortgage term: Input the remaining loan term by entering the number of years and months in the "Mortgage term" section.
- Click "calculate": Press the "Calculate" button to see the impact of your lump sum overpayment.
- View results: The calculator will display how much sooner you can pay off your mortgage, the interest saved, and the new estimated monthly repayments.
Note: These calculations assume a 100% capital & interest mortgage type.
Current mortgage balance
Total overpayment
Interest rate
Current rate
Mortgage term
Years
Months
Disclaimer
The results provided by this overpayment calculator are intended as a guide only and do not constitute financial advice or exact quotations. The calculations are based on the input figures you have provided and standard formulas. Actual rates and repayments may vary and will depend on various factors, including but not limited to: a) your personal circumstances, b) the total loan amount, c) the loan term, and d) the interest rates offered by different lenders.
Accuracy of information
- We do not guarantee the accuracy, completeness, or applicability of the results provided by this calculator to your specific circumstances.
- The interest rates represented are hypothetical and may not reflect the actual rates offered.
Professional advice
- You should seek professional advice from a qualified mortgage advisor before making any decisions regarding your mortgage or loan arrangements.
- Max Leslie (IFA) is the mortgage advisor for Sterling Wealth & Mortgages and would be happy to discuss your mortgage query directly with you.
- This calculator does not replace professional financial advice, nor does it encompass all possible data or variations that might impact your financial situation.
Changes & updates
- The rates and formulas used by this calculator are subject to change without notice.
By using this calculator, you acknowledge and agree to the terms stated in this disclaimer. If you have any questions or require advice tailored to your personal circumstances, please contact us directly at Max.Leslie@SterlingWealthAndMortgages.co.uk