Mortgage overpayment calculator

Our mortgage overpayment calculator can give you an idea of how overpaying on a mortgage could save you money by reducing the amount of interest charged.

Anyone can use this repayment calculator – even if you have a mortgage with another lender.

If you have an existing Halifax interest only mortgageuse our interest only overpayment calculator.

If you have a Halifax mortgage and are registered for Online Banking, you can get a more personalised result. Sign in to your account and select the 'Overpayments' button. 

Not registered for Online Banking? Sign up today, it only takes a few minutes.

If you don’t have a Halifax mortgage, the calculator below is for illustrative purposes only and based on certain key assumptions, listed underneath. It provides an indication of the interest you could save. The calculator doesn’t take into consideration any early repayment charges or other fees that your lender may charge and is based on a repayment mortgage.

Before making overpayments, talk to your lender to understand if any early repayment charges apply. If you want your overpayments to have the effect of reducing your mortgage term, rather than reducing your monthly payment, you need to talk to your lender.

If you’ve got a Halifax mortgage, overpayments won’t automatically reduce your mortgage term or your monthly mortgage payment, but could save you money by reducing the amount of interest charged. When the next monthly payment recalculation happens, for example at an interest rate change, the monthly payment will be calculated using the existing remaining term of the mortgage. If you want to reduce your term you'll need to speak to one of our Mortgage and Protection Advisers to discuss your options. Find out more about reducing your mortgage term.

  • We use the following assumptions in the calculations:

    • Based on a repayment mortgage 
    • Any regular monthly overpayments remain the same over the term of the mortgage 
    • All years are of equal length 
    • Interest is calculated daily and added monthly 
    • The mortgage balance shown on the graph and table are the same, and are the amount left on the mortgage at the end of that particular year 
    • Multiple sub accounts must be calculated individually 
    • Estimate of total interest saved is rounded to the nearest pound 
    • There is no change in interest rate which would recalculate your monthly payment 
    • There won't be any changes to your mortgage which would result in a recalculation of your monthly payment, for example, changes to your mortgage product, term, type or change of owners.

What can I do next?

If you already have a Halifax mortgage:

Make a lump sum overpayment

Learn more about lump sum overpayments and how much it might cost.

More about lump sum overpayments

Set up a regular overpayment

Find out how to set up a regular overpayment and how much it could cost.

More about regular overpayments

If you have a mortgage with another lender:

You could save money by moving your mortgage to Halifax

Let us know what’s important to you and we can build the right remortgage deal together.

Use our remortgage calculator

You could lose your home if you don’t keep up your mortgage repayments