Mortgage Calculators
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Using a Mortgage calculator is a great way to better understand what your payments could look like, whether it is as a first time buyer looking to gain an understanding of what their monthly payments may be or someone looking to remortgage on to a new deal looking to find out how this compares to their existing mortgage payment. You may be someone looking to move or borrow additional funds for home improvements, trying to find out how the additional borrowing could change your monthly payments.
Alternatively, you may be in a better financial position compared to when you originally took out your mortgage, either through higher salary or lower monthly expenses and may wonder whether some of this extra disposable income could be well used to make overpayments on your mortgage.
Mortgage Repayment Calculator
Use our Mortgage Repayment Calculator below to help better understand your monthly mortgage payments.
You can alter the calculator based on
- Mortgage amount you are looking to borrow.
- Term
- Interest Rate
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| Amount to finance | |
|---|---|
| Amount of interest | |
| Total payable | |
| Monthly payable |
PLEASE NOTE – Our Mortgage Repayment Calculator is for indicative purposes only. To better understand your monthly mortgage payment for the amount you are looking to borrow it is best practice to speak to a mortgage adviser.
Mortgage Overpayment Calculator
How to use our calculator
- The calculator can be used depending on how you wish to make overpayments, either on a monthly basis, a lump sum overpayment, or both!
- Under the initial fields simply enter your mortgage balance, term on your mortgage and interest rate. This will update the graph to show how your mortgage is repaid over the term of your mortgage without overpayments being made, also providing an indication of the interest paid on the mortgage over the term.
- If you wish to make monthly overpayments enter a figure in the field ‘Monthly’ in the Overpayment fields, which will then update the graph and table to show a comparison of how this is likely to change the term of your mortgage and interest paid.
- If you are looking to make a lump sum overpayment, enter the year and month field when the intended overpayment is to be made followed by the amount in the final field. This will then update the graph and table to show the difference of making this overpayment.
- Looking to make more than one lump sum overpayment? By clicking on the + icon you will have the opportunity to fill in further information to find out what will happen to your mortgage if you were to make more than one overpayment.
- You may wish to find out about making a monthly overpayment and a lump sum overpayment in the future. If so, simply complete all information following the above guides where the graph and table will update to give you an indication of how your mortgage is likely to change.
PLEASE NOTE – This calculator should be used as a guide only. To better understand making overpayments on your mortgage it is best practice to speak to a mortgage adviser or your existing mortgage lender to establish what impact making a one off overpayment or monthly mortgage overpayments; along with understanding whether there is currently an Early Repayment Charge on your mortgage that is likely to have an effect on the overpayments made.
