How Much Would You Need to Overpay to Clear Your Mortgage Sooner?
This guide is for general information only and does not provide financial advice. Check your lender’s terms before overpaying, as early repayment charges may apply. Your home may be repossessed if you do not keep up repayments on your mortgage.
If you want your mortgage gone in 15 or 20 years instead of 25, the monthly overpayment you would need depends on your balance and rate. This page shows estimates for three balances at 4.5% with 25 years remaining, found by asking the calculator for the smallest whole-pound overpayment that reaches each target.
The estimated monthly overpayment
| Balance | To clear in 15 years | To clear in 20 years |
|---|---|---|
| £150,000 | about £314 a month (open in calculator) | about £116 a month (open in calculator) |
| £200,000 | about £419 a month (open in calculator) | about £154 a month (open in calculator) |
| £250,000 | about £523 a month (open in calculator) | about £193 a month (open in calculator) |
At a fixed rate the overpayment needed scales with the balance, so for each balance the first year’s overpayments are the same share of the starting balance: about 2.5% to clear in 15 years and about 0.9% to clear in 20. You can compare that with your lender’s yearly allowance, which is a share of your balance too. Allowances vary, and overpaying above yours could lead to an early repayment charge during a fixed or discounted rate. See what is an early repayment charge?
How the rate changes it
The amount depends on the rate too. For a £200,000 balance with 25 years remaining:
| Interest rate | To clear in 15 years | To clear in 20 years |
|---|---|---|
| 3.5% | about £429 a month | about £159 a month |
| 4.5% | about £419 a month | about £154 a month |
| 5.5% | about £406 a month | about £148 a month |
How to use this for your own mortgage
- Enter your balance, rate and remaining term in the free mortgage overpayment calculator, then adjust the monthly overpayment until the payoff date matches your target.
- Check your lender’s yearly allowance and any charge before you commit to a regular amount.
- Remember the estimate assumes one rate for the whole term: repeat it when your rate changes (see how your rate changes what overpaying does).
Figures are estimates from this site’s calculator. They assume a repayment mortgage, a rate that stays the same for the whole term and no fees or early repayment charges, and they are illustrations, not forecasts. Try your own figures in the free mortgage overpayment calculator.
If you are unsure whether overpaying suits you, consider speaking to a regulated mortgage adviser.
Questions people ask
How much do I need to overpay to clear my mortgage in 15 years?
It depends on your balance, rate and remaining term. The table shows estimates for three balances with 25 years remaining at 4.5%. Enter your own figures in the free calculator and adjust the overpayment until the payoff date matches your target.
Can I overpay that much without a charge?
Not necessarily. Many lenders have a yearly allowance during a fixed or discounted rate, often a percentage of the balance, and the table shows each amount as a share of the balance so you can compare it with your own allowance. Check your mortgage offer. See the UK mortgage overpayment cap.
Would a lump sum help me clear my mortgage sooner?
It can, and many lenders count it towards the same yearly allowance as regular overpayments, but check your mortgage offer. See lump sum versus monthly overpayments.
Other worked examples
overpaying £200 a month, overpaying £300 a month, overpaying £500 a month, overpaying £1,000 a month, how your rate changes what overpaying does. For how much to overpay in general, see how much should I overpay?