Useful mortgage tools

Using this tool

You’ll need to know the outstanding balance, repayment basis (interest only, part & part or capital & interest), current interest rate and remaining term of your mortgage.

Find out how to quickly see up to date information about your account.

If you have a mortgage that is made up of multiple sub-accounts, you can also enter details for each part separately.

Understanding the results

Our calculator shows the increase in monthly payments, for a repayment or interest only mortgage, at a range of different interest rates.

The results you’ll see are based on the information you have entered for your current balance, interest rate and remaining term.

Our calculator uses a simple method to determine the amount of interest you’ll pay as part of your monthly payment, by dividing the total amount of interest you’ll pay over a full year into 12 equal monthly amounts.

Since interest on your mortgage may be calculated differently (such as on a daily basis), then the actual change in your monthly payments after an interest rate increase may differ slightly to the figures shown in the calculator.

This means the results should only be used as a guide.

Read more information about rate changes on the Rate Change Information page of our website. You can also find out more about different types of interest rate here.  

Using this tool

You’ll need to have an idea of the amount you can afford to overpay. You’ll also need to know the outstanding balance, repayment basis (interest only, part & part or capital & interest), current interest rate and remaining term of your mortgage.

Find out how to quickly see up to date information about your account.

If your mortgage is made up of multiple sub-accounts, you won’t be able to use the calculator and you’ll need to call us to discuss your situation.

Benefits of making overpayments

Overpayments are easy to set up and you won’t be charged any fees for making them.

You can make additional payments to reduce your mortgage balance every month or as a one-off lump sum at a particular point.

Each overpayment you make helps reduce your balance meaning you’ll pay less interest over the term of your mortgage.

Reducing your balance could also reduce your loan to value ratio (the amount you owe compared to how much your property is worth) which could make it easier for you to remortgage in the future.

Understanding the results

Our calculator shows how making overpayments on a mortgage reduces the total amount of interest paid and balance owed at the end of the term.

The results you’ll see are based on the information you have entered for the overpayment amount, current balance, interest rate, repayment basis and remaining term of your mortgage.

Our calculator uses a simple method to determine the amount of interest you’ll pay, by dividing the total amount of interest you’ll pay over a full year into 12 equal monthly amounts.

Since interest on your mortgage may be calculated differently (such as on a daily basis), then the actual impact of making overpayments on your mortgage may differ slightly to the figures shown in the calculator.

Our calculator also makes several other assumptions about your mortgage, including:

• You make your standard monthly payment every month over the full remaining term.
• You make the same regular monthly overpayment amount (if any) every month over the full remaining term.
• There is no change to your interest rate over the full remaining term.
• There are no fees or charges added to the balance you owe.
• There are no other changes to your mortgage which would result in a recalculation of your monthly payment (e.g. changes to your remaining term or a switch to repayment/interest only basis).

Since some of these assumptions may not apply to your mortgage, the results of this calculator should only be used as a guide.

Find more information about overpayments – such as how to set them up and maintain them over your remaining term see the making overpayments page of our website.

Using this tool

You’ll need to know your outstanding balance, current interest rate and how long is left on your mortgage. You’ll also need to have an idea of what percentage of your mortgage you’d like to switch.

Find out how to quickly see up to date information about your mortgage account

If your mortgage is made up of multiple sub-accounts, you won’t be able to use the calculator and you’ll need to call us to discuss your situation.

Switching to Repayment

With an interest only mortgage, your monthly payments don’t reduce the balance of your loan, so you need to have a plan in place to repay that amount at the end of your term.

With a full repayment mortgage, your monthly payments will be higher because as well as covering the interest you’re charged, they also gradually pay back the amount you originally borrowed. So provided you stay on track with your monthly payments, the amount you borrowed will be completely paid off by the end of the term.

Switching to Part & Part

If a switch to full repayment is unaffordable, you could consider switching just part of your mortgage, which will increase your monthly payments less than if you made a full switch. This is known as a part & part mortgage.

Whilst still reducing your outstanding balance, this leaves an interest only ‘part’ of your mortgage to be repaid in full at the end of your term, so some further planning would still be needed to cover this.

Understanding the results

Our calculator shows how switching to either a full or partial repayment mortgage reduces both the total amount of interest paid and the balance owed at the end of the mortgage term.

The results you’ll see are based on the information you have entered for your outstanding balance, current interest rate, remaining term and the percentage of your mortgage that you’d like to switch.

Our calculator uses a simple method to determine the amount of interest you’ll pay on your mortgage, by dividing the total amount of interest you’ll pay over a full year into 12 equal monthly amounts.

Since interest on your mortgage may be calculated differently (such as on a daily basis), then the actual impact of switching all, or part, of your mortgage to repayment may differ slightly to the figures shown in the calculator.

Our calculator also makes several other assumptions, including:

• You make your standard monthly payment every month over the full remaining term of the mortgage.
• There is no change to your interest rate over the full remaining term of the mortgage.
• There are no fees or charges added to your mortgage.
• There are no other changes to your mortgage which would result in a recalculation of your monthly payment (e.g. changes to your remaining term or any overpayments).

Since some of these assumptions may not apply to your mortgage, the results of this calculator should only be used as a guide.

You can find more information about interest only mortgages here on our website.