Mortgage Overpayment
Calculator
SPV Mortgages
The UK’s buy-to-let limited company mortgage specialist.
Looking for property search, mortgages and legal advice in one place?
Try our BTLPlatform
Mortgage Overpayment
Overpaying your mortgage
Overpaying your mortgage can you save you thousands of pounds per year and wipe years off the repayment period. Find out how much you’ll save and how quick you can repay your mortgage, with our intuitive mortgage overpayment calculator tool.
Simply fill in the form, click the ‘See results’ button and you’ll get a full rundown of how your overpayments will affect your mortgage balance. Give it a try!
Let’s talk
Your current mortgage
What type of mortgage do you have?
Results
See how much you could save by making overpayments
If you overpay by:
per month
You could save:
in interest
And your balance could be:
lower when your mortgage term ends in
| Monthly payment | Total amount repaid over term | Balance at end of term | |
|---|---|---|---|
| With overpayments | |||
| Without overpayments |
Mortgage Balance at the End of Your Mortgage Term in October 2034 (£)
Results
See how much you could save by making overpayments
If you overpay by:
per month
You could save:
in interest
And you will pay off your mortgage:
| Monthly payment | Mortgage term | Total amount repaid | |
|---|---|---|---|
| With overpayments | |||
| Without overpayments |
Your current mortgage
What is your outstanding mortgage balance?
£
What type of mortgage do you have?
How long do you have left on your mortgage?
Years
Months
What is your current interest rate?
%
What is your current interest rate?
What type of mortgage do you have?
Results
See how much you could save by making overpayments
If you overpay by:
£200
per month
You could save:
£6,937.73
in interest
And your balance could be:
£32,137.73
lower when your mortgage term ends in October 2034
| Monthly payment | Total amount repaid over term | Balance at end of term | |
|---|---|---|---|
| With overpayments | £950.00 | £287,562.27 | £167,862.27 |
| Without overpayments | £750.00 | £294,500.00 | £200,000.00 |
Mortgage Balance at the End of Your Mortgage Term in October 2034 (£)
Results
See how much you could save by making overpayments
If you overpay by:
£200
per month
You could save:
£6,937.73
in interest
And you will pay off your mortgage:
1
Year
2
Months earlier
| Monthly payment | Mortgage term | Total amount repaid | |
|---|---|---|---|
| With overpayments | £2,194.64 | 9 Years 4 Months | £245,175.02 |
| Without overpayments | £1,994.64 | 10 Years 6 Months | £251,317.60 |
Find your rental yield
Is your next buy-to-let a good investment?
Discover the return you can expect from your
property, with our handy
rental
yield percentage calculator.
How to build a successful tax-efficient property portfolio
Buy-to-let ownership is changing. Find out how to invest in UK property
the
tax-efficient
way.
Why are buy-to-let deposit requirements so much higher than residential purchases?
Simply put, buy-to-let mortgages are more risky for lenders. As a landlord, you’re relying on another party (namely your tenants) in order to afford the mortgage repayments; so the risks of the bank not getting their money back are naturally higher.
As with any property purchase, paying a larger deposit percentage on a buy-to-let – if you can afford it – gives you access to more lending options.
What if I can’t raise the deposit amount?
Most buy-to-let mortgage lenders will demand a minimum deposit of around 25% of the total property price, with some willing to accept 20% or even 15% in the right circumstances.
Our buy-to-let mortgage deposit calculator can tell you how much you’ll need to provide as a deposit in order to secure your property. Simply type in your property’s value and monthly rental income to see your deposit amount. The figures are based on a 2-year mortgage deal with a minimum deposit of 25%, with lender stress tests built into the calculations at SPV rates (125% at 5.5%).
What if I can’t raise the deposit amount?
If you’re unable to afford the deposit, you may want to consider hunting for a buy-to-let in a higher-yielding location, or seeking out a 5-year mortgage deal with a mortgage broker such as SPV Company Mortgages.
Theoretically, you may be able to pay the deposit via a bridging loan – in fact, this is a common tactic for auction purchases – but keep in mind that interest costs for these are usually higher than typical mortgage loans.
What’s my next step?
Once you know how much you’ll need to provide as a deposit and how much stamp duty you’ll need to pay, the next step in evaluating a potential buy-to-let purchase is the rental yield.
Head on over to our rental yield calculator to find your rental yield percentage and discover how much you could be making in gross profit and net profit each month.
If you need help securing a mortgage to fund your buy-to-let purchase, or you’re having trouble weighing up a prospective property investment.
Let’s talk
These figures are only illustrative. An assessment of your needs will be confirmed before a recommendation can be made. A Key Facts Illustration, which is personal to your circumstances, will be provided if a recommendation for a mortgage product is made.
The guidance and/or advice contained within the website is subject to the UK regulatory
regime and is therefore primarily targeted at customers in the UK.
The Financial Conduct Authority does not regulate some aspects of buy-to-let mortgages.
Your home or property may be repossessed if you do not keep up repayments on your mortgage.
Members of
