Mortgage overpayment calculator

Advice on mortgage rates

Mortgage rates have rocketed since the government's mini-budget on 23 September.

If you're thinking of buying a home or need to remortgage this is likely to impact you.

For the latest news and advice on dealing with inflated mortgage rates, see the below stories, which are regularly updated:

If you're worried about making your mortgage payments, see our guide on what to do if you can't pay your mortgage.

Why overpay your mortgage?

If you can afford to do it, overpaying your mortgage can be a great way of saving money in the long run. This is because, by clearing the debt quicker, you'll spend less time paying interest on what you owe - which can mean saving thousands of pounds.

In the shorter term, overpaying your mortgage can also help you get a better deal when you come to remortgage. This is because you'll own a greater proportion of your home, meaning you can borrow at a lower LTV (loan-to-value ratio) - which often means better rates.

More mortgage calculators

Need to make more calculations? Our full range of mortgage calculators can help you find out everything from how much your repayments could change if interest rates rose to where you should buy a home.