- First-time buyer
First-time buyer
It’s not easy being a first-time buyer, but we’re here to help you find a mortgage and navigate homebuying. From the latest mortgage news and updates on first-time buyer support schemes to the best deals and tips on deposit saving, plus a range of practical guides – we’ve got you covered.
- Buy-to-let
Buy-to-let
Whether you are a first-time landlord or a buy-to-let professional, you’ll find everything you need to take out the best mortgage for your property investment needs. Stay up to date with the latest buy-to-let news and advice – from the top mortgage rates to the latest landlord requirements and rule changes.
- Homebuyer hub
Homebuyer hub
Buying or selling a home or looking to remortgage? Here’s all the latest news, advice and guides you need. Plus, we reveal what’s happening to mortgage rates, house prices and interest rates.
- Equity release
Equity release
This is the place for homeowners in later life and anyone looking to release equity from their home. With a comprehensive equity release advice section, the latest lifetime mortgage news plus useful guides you will find all the tools you need to navigate the equity release market.
- First-time buyer
First-time buyer
It’s not easy being a first-time buyer, but we’re here to help you find a mortgage and navigate homebuying. From the latest mortgage news and updates on first-time buyer support schemes to the best deals and tips on deposit saving, plus a range of practical guides – we’ve got you covered.
- Buy-to-let
Buy-to-let
Whether you are a first-time landlord or a buy-to-let professional, you’ll find everything you need to take out the best mortgage for your property investment needs. Stay up to date with the latest buy-to-let news and advice – from the top mortgage rates to the latest landlord requirements and rule changes.
- Homebuyer hub
Homebuyer hub
Buying or selling a home or looking to remortgage? Here’s all the latest news, advice and guides you need. Plus, we reveal what’s happening to mortgage rates, house prices and interest rates.
- Equity release
Equity release
This is the place for homeowners in later life and anyone looking to release equity from their home. With a comprehensive equity release advice section, the latest lifetime mortgage news plus useful guides you will find all the tools you need to navigate the equity release market.
Overpayment calculator
Save money and reduce your mortgage term by overpaying. Use this tool to crunch the numbers
Overpayment calculator
Note. Typically you’re only allowed to overpay by 10% of your outstanding mortgage balance per year, so bear this in mind in particular if you wish to make recurring overpayments more than once a year.
Overpayment calculator FAQ's
Before overpaying
Before overpaying your mortgage, check your lender allows you to do this penalty-free, and if there are any limits on how much you can overpay by.
If you’re on your lender’s standard variable rate, there’s normally no limit. But most fixed-rate mortgages and some tracker mortgages have an annual overpayment limit of 10% of your TOTAL outstanding mortgage balance.
As the exact method of how this 10% is calculated varies by lender, use our calculator as a rough guide. Then speak to your lender to work out exactly how much you can overpay by.
Also ensure that any overpayment you make goes to reduce the debt (so shortening the term) rather than reducing your monthly payments. This calculator assumes you reduce the mortgage debt, which is the main benefit of overpaying.
More calculators
How much can you borrow? What will your monthly repayments be? Use these quick, simple tools to help you do the sums.
Learn how much stamp duty will you pay on your new home by using our calculator
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