Switch to Repayment calculator

Switch to Repayment calculator

This calculator illustrates the potential impact of switching from Interest Only to a Repayment mortgage. Simply enter the key details about your mortgage and the tool will illustrate the differences between these two payment methods.

Please note - With a Repayment mortgage, your monthly payments will be higher as they cover the interest on the amount you've borrowed and they will also reduce the balance of your loan. However, provided you stay on track with your monthly payments, your mortgage will be completely paid off at the end of the term.

Your current mortgage

Please enter a valid mortgage balance

What is your outstanding mortgage balance?

£ e.g.125000
Please enter a valid Year/Month

How long do you have left on your mortgage?

e.g.15 Years
e.g.3 Months
Please enter a valid Interest Rate

What is your current interest rate?

e.g.2.5 %
Please enter a valid Switch Rate

How much of your interest only mortgage would you like to switch?

e.g.100 %

Calculation results

Interest Only Repayment Mortgage
Current term Current term Chosen term
Monthly Payment
Total interest amount payable over term
Balance owed at end of term
Total amount payable over term (Capital plus Interest)
Saving in total amount payable compared to Interest-only n/a
Results - How much would you pay over your mortgage term of ?
Total Per month
Interest only
Part & part (%)
Repayment mortgage


How much would you need to repay when your mortgage term ends in ?
Interest only
Part & part (%)
Repayment mortgage




If you have an Interest Only mortgage with us (whether part or fully Interest Only), this means your monthly payments are paying off the interest but will not pay off the loan itself, and this can leave you in a very difficult position, with a significantlump sum to repay when your mortgage term ends in .

Your home may be repossessed if you do not repay the full amount on the date we agreed. You can also be taken to court to recover any additional shortfall if the sale price of your property does not cover the full loan balance.

Edit details Next steps

What can you do next?

Make overpayments instead

Overpayments are easy to set up, they can be made at any time and you will not be charged any fees by us for making them.

Find out more about Interest only

Our specialist team can help to develop a repayment strategy that's right for you.

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