Overpayment Calculator
Important Information
Early Repayment Charges
Some lenders may apply early repayment charges (ERCs) if you make overpayments that exceed a specified amount. Always review your mortgage agreement or speak to your lender to understand any applicable charges or restrictions.
Professional Advice
- This information does not constitute financial advice. For personalised mortgage advice, please arrange an appointment with one of our qualified mortgage advisers. Independent Mortgages Direct NE is not responsible for any loss or liability incurred from the use of this calculator.
Your Results
Ensure that any overpayment is applied toward reducing the principal balance, thereby shortening the loan term, rather than lowering your monthly payments. This calculator assumes overpayments reduce the mortgage debt, maximizing the primary benefit of overpaying.
Effects of Overpayment