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Use our calculator to work out how overpaying on your interest only mortgage can help reduce your mortgage balance.
The calculator is for illustrative purposes only and is based on some key assumptions, which are shown at the bottom of this page. It should only be used as a guide and to provide an indication of both the interest you could save and how much you could reduce your mortgage balance by.
If your mortgage is made up from different parts, then you’ll need to work-out each part separately.
You can find out which interest rates apply to each sub-account through Online Banking or in your latest mortgage statement from us.
The calculator doesn’t take into consideration any early repayment charges that may apply.
We use the following assumptions in the calculations: