How much does a £200/month overpayment save on a £200,000 mortgage?

On a 25-year mortgage at 4%, a £200/month overpayment saves approximately £23,000 in interest and reduces the term by around 6 years.

Are there penalties for overpaying a mortgage?

Most lenders allow overpayments of up to 10% of the outstanding balance per year without penalty. Check your mortgage terms for your specific allowance.

Mortgage Overpayment Savings Calculator

Calculate how much interest you save and how many years you shorten your mortgage by making regular or lump-sum overpayments. See the exact payoff date and total savings.

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How to Use

Enter the values for the scenario you are assessing. Calculate how much interest you save and how many years you shorten your mortgage by making regular or lump-sum overpayments. See the exact payoff date and total savings. Use the mortgage overpayment result to inform your calculation.

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