Can i overpay my mortgage

We use cookies to allow us and selected partners to improve your experience and our advertising. By continuing to browse you consent to our use of cookies. You can understand more and change your cookies preferences here. Here, we explain how to overpay your mortgage, and offer advice on the key things you should consider first. More about lump sum overpayments.

More about regular overpayments. Use our remortgage calculator. Mortgage overpayment calculator. Anyone can use this repayment calculator — even if you have a mortgage with another lender. Calculator assumptions expandable section.

We use the following assumptions in the calculations: Based on a repayment mortgage Any regular monthly overpayments remain the same over the term of the mortgage All years are of equal length Interest is calculated daily and added monthly The mortgage balance shown on the graph and table are the same, and are the amount left on the mortgage at the end of that particular year Multiple sub accounts must be calculated individually Estimate of total interest saved is rounded to the nearest pound There is no change in interest rate which would recalculate your monthly payment There will not be any changes to your mortgage which would result in a recalculation of your monthly payment e.

What can I do next? Existing customers. Overpayments could save you money We want to help you manage your mortgage more effectively. This means you could: pay off your mortgage earlier reduce the amount of interest payable - the interest chargeable on the outstanding mortgage balance is calculated every day rather than every week, month or year. Firstly, you need to check what type of mortgage you hold: if you have a fixed rate mortgage , you'll have an annual overpayment allowance AOA to enable you to make additional payments during the fixed or discounted rate period without incurring an Early Repayment Charge ERC.

Try our overpayment calculator. Online banking Online banking This link will open in a new window. Payment and overpayments FAQs. Can I make a lump sum overpayment? Can I make a regular monthly overpayment? How much can I overpay my mortgage by? How are my monthly overpayments affected by a change in the Bank of England base rate? Back to top. Customer support.