Repayment Calculator

Understanding your repayment schedule

A repayment mortgage (also called a capital and interest mortgage) means you pay off both the loan amount and the interest over the agreed term. At the end of the term, you own your home outright with nothing left to pay. Compare this with an interest-only mortgage to see which suits you better.

How to read your amortisation schedule

• Interest paid — the amount of each year's payments that goes toward interest. This is highest in the early years and reduces over time.
• Capital paid — the amount that actually reduces your outstanding balance. This increases each year as you owe less interest.
• Remaining balance — how much you still owe at the end of each year. Watch it shrink toward zero.

Tips to pay off your mortgage faster

• Make regular overpayments — even an extra £100/month can save thousands in interest
• Choose a shorter term if you can afford higher monthly payments
• Remortgage to a lower rate when your deal expires — use our mortgage calculator to compare
• Avoid extending your term when remortgaging, as this increases total interest paid

This calculator provides estimates based on a fixed rate for the full term. In reality, your rate may change when you remortgage. For personalised advice, speak to our team.