Mortgage repayment
Type the loan, the term and the rate. Add the rate after a fixed deal and any overpayments, monthly or as a lump sum, to see the payment, the interest and when it's paid off.
Estimate · guidance, not advice
Good to know
- Interest is worked out monthly on what's owed. Your lender's figures come first.
Questions
What happens when a fixed rate ends?
The payment is worked out again on what's left, at the rate you type for after the fix, over the rest of the term.
How do overpayments work here?
The overpayment comes off what you owe. During a deal the payment stays the same, so it ends sooner; when a fixed rate ends, the new payment is worked out on the lower balance. Your mortgage terms say how much you can overpay without a fee.
What does interest-only mean?
You pay just the interest each month, so the loan is still owed at the end.
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