How much can I overpay on my mortgage?

Most lenders allow overpayments of up to 10% of the outstanding balance per year without incurring an early repayment charge (ERC). Check your mortgage terms before overpaying beyond this.

Is it better to overpay my mortgage or invest?

It depends on your mortgage rate versus expected investment returns and your risk tolerance. Overpaying provides a guaranteed, tax-free return equal to your mortgage rate, with no risk.

When is the best time to start overpaying?

The earlier in the mortgage term you overpay, the greater the saving — because interest is charged on the remaining balance, reducing it sooner has a compounding effect over time.

Mortgage Overpayment Calculator

See how making regular monthly overpayments reduces your mortgage term and the total interest you pay. Even small overpayments can save thousands over the life of a mortgage.

How it's calculated

The calculator simulates month-by-month amortisation with the increased payment and compares total interest paid against the standard schedule.

Frequently Asked Questions

How much can I overpay on my mortgage?: Most lenders allow overpayments of up to 10% of the outstanding balance per year without incurring an early repayment charge (ERC). Check your mortgage terms before overpaying beyond this.
Is it better to overpay my mortgage or invest?: It depends on your mortgage rate versus expected investment returns and your risk tolerance. Overpaying provides a guaranteed, tax-free return equal to your mortgage rate, with no risk.
When is the best time to start overpaying?: The earlier in the mortgage term you overpay, the greater the saving — because interest is charged on the remaining balance, reducing it sooner has a compounding effect over time.