Mortgage Calculator
Calculate your monthly payments, model overpayments, or compare two mortgages side by side.
Learn how this calculator works →Extra amount on top of your regular payment
A single overpayment applied at the start. Most lenders cap penalty-free overpayments at 10% of the outstanding balance per year - check your terms.
Keep the same payment, pay off sooner.
Lender limits: Most UK lenders cap penalty-free overpayments at 10% of the outstanding balance per year. Check your mortgage terms before overpaying.
What happens to my data?
Monthly payment
£1,112
Total interest
£133,499
Interest saved
£36,280
Time saved
6 yrs 1 mo
Balance & equity over time
Year-by-year breakdown
Remaining balance at the end of each year
| Year | Balance | Overpaid | Interest (yr) |
|---|---|---|---|
| 1 | £195,569 | £193,119 | £8,909 |
| 2 | £190,935 | £185,922 | £8,706 |
| 3 | £186,088 | £178,395 | £8,493 |
| 4 | £181,018 | £170,522 | £8,270 |
| 5 | £175,716 | £162,287 | £8,037 |
| 6 | £170,170 | £153,673 | £7,794 |
| 7 | £164,369 | £144,664 | £7,539 |
| 8 | £158,301 | £135,242 | £7,272 |
| 9 | £151,955 | £125,386 | £6,994 |
| 10 | £145,317 | £115,077 | £6,702 |
| 11 | £138,374 | £104,295 | £6,397 |
| 12 | £131,113 | £93,018 | £6,078 |
| 13 | £123,517 | £81,222 | £5,745 |
| 14 | £115,573 | £68,885 | £5,396 |
| 15 | £107,264 | £55,981 | £5,031 |
| 16 | £98,573 | £42,484 | £4,649 |
| 17 | £89,483 | £28,367 | £4,250 |
| 18 | £79,975 | £13,601 | £3,832 |
| 19 | £70,030 | Paid off | £3,395 |
| 20 | £59,629 | Paid off | £2,939 |
| 21 | £48,750 | Paid off | £2,461 |
| 22 | £37,371 | Paid off | £1,961 |
| 23 | £25,469 | Paid off | £1,438 |
| 24 | £13,020 | Paid off | £891 |
| 25 | - | Paid off | £320 |
Get personalised mortgage alerts
Set your mortgage profile once and we'll email you when the average market rate for your LTV band drops below yours, when your fix is approaching its end, and once a year. Educational only - no provider recommendations.
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Important: Not Financial Advice
This calculator is provided for educational and illustrative purposes only. Freedom Isn't Free is not authorised or regulated by the Financial Conduct Authority (FCA) and does not provide financial advice, investment recommendations, or tax guidance.
The projections shown are hypothetical, assume a constant rate of return, and do not account for inflation, taxes, or fees. Actual investment returns vary and you may get back less than you invest. Past performance is not a reliable indicator of future results.
Before making any financial decisions, please consult with an independent financial adviser regulated by the FCA. For help finding an adviser, visit MoneyHelper or Unbiased.
Where links to financial products appear on this page, some may be affiliate links. See our full disclaimer for details.
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