Please note – the calculator assumes your current interest rate will remain the same over the remaining term of your mortgage. In reality, interest rates could rise and fall and this will affect the amount you overpay. Please refer to your original terms and conditions to see if you are eligible to make overpayments.
While there are clear financial benefits to overpaying your mortgage, you should not overpay more than you can afford. If you have other outstanding debts, like credit cards or personal loans, consider if it would be better paying these off first – especially if the interest rate you are being charged on them is higher than that applying to your mortgage. If you have any queries, we recommend you speak to an independent financial adviser.
For more information about making overpayments, please contact us as soon as possible.
Alternatively you can refer to other useful pages on our website.