Free financial calculator
Interest-Only Mortgage Overpayment Calculator
See how overpaying capital could change an interest-only mortgage without confusing it with a repayment mortgage.
Use the calculator ↓Adjust the assumptions
Interest-Only Mortgage Overpayment Calculator
See how overpaying capital could change an interest-only mortgage without confusing it with a repayment mortgage.
Result
£0
View year-by-year breakdown ＋
| Year | Contributions | Growth | Balance |
|---|
Questions answered
What this calculator helps you work out
- How much interest could an interest-only mortgage overpayment save?
- How would a lump sum change the monthly interest payment?
- How much capital could remain at the end of the term?
Common questions
Interest-Only Mortgage Overpayment Calculator FAQs
Does the normal interest-only payment reduce the mortgage balance?＋
Usually no. It covers interest, so a separate repayment plan or capital payment is still needed.
Will my monthly payment fall after an overpayment?＋
It may if the lender recalculates interest on the lower balance, but timing and lender policy vary.
Can I clear the mortgage through monthly overpayments?＋
Potentially, if enough capital is paid before the term ends and the lender permits it. The calculator estimates the remaining balance.
Go beyond the result
Can You Overpay an Interest-Only Mortgage?
See a worked example, the trade-offs to consider and the assumptions that can change the answer.