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UK Prepayment Simulator
See how extra overpayments reduce your mortgage term and how much interest you save, including Early Repayment Charges (ERCs) on excess overpayments.
Loan Details
£
£100,000£3,000,000
£
£17,500£350,000
%
0.5%15%
yrs
5 yrs35 yrs
/ 5
1 / 55 / 5
What year of your fixed-rate deal are you in?
Overpayment
£
£0£100,000
In the UK, you can overpay up to 10% of your outstanding balance each year without incurring Early Repayment Charges. Overpayments beyond this limit are subject to ERC based on your current fixed-rate deal year.
Balance Comparison
Over 25 yearsWithout Overpayment
With Overpayment
Impact Summary
Interest Saved
£69,076
Total overpayments: £85,000
Years Saved
8.2 yrs
Payoff Without Overpay
July 2051
Payoff With Overpay
July 2042
Total Cost Without Overpay
£466,899
Total Cost With Overpay
£399,379
Monthly Payment
£1,556
PilotRate provides educational mortgage estimates and does not constitute financial advice.