Updated: April 21, 2023
Offset Mortgage Calculator
Want to know how much your repayments would be for an offset mortgage? Use our calculator here to find out.
No impact on your credit score
Author: Pete Mugleston - Mortgage Expert, MD
Updated: April 13, 2023
If you’re interested in getting an offset mortgage in order to use your savings to reduce the overall interest payments over the loan term, use our calculator below to see how much your repayments could work out at.
Offset Mortgage Calculator
This calculator shows you how your mortgage payments could look if you choose an offset mortgage and how much you could potentially save with this product type.
Without offset savings:
Monthly repayments:
Total cost:
With offset savings:
Monthly repayments:
Total cost:
Now that you have a rough idea of how much you could save on interest by offsetting your mortgage, you should speak to a specialist broker for bespoke advice about offset mortgages and access to the best deals that you qualify for.
The following topics are covered below...
Why use this offset mortgage calculator
Trying to calculate the repayments for an offset mortgage manually can be a very tricky task which may take some time. By using our offset mortgage calculator you’ll be able to have an idea of the repayments and how much interest you could save in a matter of moments.
It’s very simple and easy to use with no personal details required. All you need to do is input the following details:
- Mortgage loan amount
- Interest rate
- Loan term
- Savings amount you wish to use to offset the mortgage
And that’s it! Once you’ve inputted this information the offset mortgage calculator will show you two repayment comparisons – one illustrating what the repayments would be without any savings and one showing how much your repayments will reduce along with what you’ll save on interest throughout the term.
It should be noted that these calculations are for illustrative purposes only. For an accurate quote of what interest rates you can expect for an offset mortgage the shrewd move is to speak with a mortgage broker who has experience arranging these types of home loans.
Interest-only calculations
Our offset mortgage calculator illustrates outcomes based on capital and repayment mortgages only. So, for an interest-only offset mortgage all you need to do is subtract your savings amount from the original loan amount.
You can then work out the mortgage repayments by using our calculator here. All you need to do is click on the toggle button for interest only and the payment for that particular method will be shown.
Mortgage Repayment Calculator
Our mortgage repayment calculator can tell you how much your mortgage will cost you each month and overall. Enter the amount you’re borrowing, the term length and interest rate, and our calculator will do the rest.
Monthly Repayments:
Total amount paid at end of term:
Get started with an expert broker to find out how much they could help you save on your mortgage repayments.
Get Started with a Broker
Maximise your chance of approval with specialist advice from a mortgage expert
Offset mortgage overpayment calculations
As time goes on you may find that you want to make additional overpayments to your offset mortgage in order to further reduce the impact of the overall interest accruals and also complete the loan term sooner than expected. And these types of mortgages usually offer the flexibility to do that.
You can use our mortgage overpayment calculator here to see how this could work out for you. All you need to do is input some simple details about your existing mortgage along with the amounts you wish to overpay – either on a monthly basis or as a lump sum – and the calculator will do the rest.
Mortgage Overpayments Calculator
This calculator can show you how much you could save and what your new mortgage payments will look like if you were to make overpayments as a lump sum, monthly amount or both.
Your current monthly repayment is:
What your mortgage repayments will look like based on your overpayments:
Potential mortgage term reduction:
Amount of interest you could save:
Now that you have a rough idea of how overpayments will affect your mortgage deal, make an enquiry to speak to a broker for bespoke advice about whether this is the right option for you.
Our Broker-Matching Service Guaranteed!
We want you to have complete confidence in our service, and get the best chance of securing your mortgage. We guarantee to get your mortgage approved where others can’t – or we’ll give you £100*
Why use Online Money Advisor?
Here’s how Online Money Advisor will be able to help you find the best offset mortgage options to suit your specific requirements.
- Use our free, unique broker-matching service. We’ll match you with the right mortgage broker who has experience arranging these types of home loans, saving you time and, potentially, some money too.
- Help choose the right offset mortgage. Your broker will help you calculate the amount of savings you can comfortably put aside for the purposes of applying for an offset mortgage and guide you through all the different options available.
- Find the best lenders. Rather than scouring the market trying to find lenders who offer this type of mortgage yourself, your broker will be able to identify the best providers for you.
Reviews
Excellent service
Excellent service, thanks you very much!
Danielle H
Great- would recommend 👍🏻
Great, 5 star efficient service. Would recommend
Allen
Prompt, pleasant, thorough!
David was prompt helpful and thorough. Our case was particularly challenging and he still managed to secure a good deal for us!
Eric
What you should do next
Our free unique broker-matching service is designed to match you with the right mortgage broker who can deal with your exact requirements – first time!
So get in touch or give us a call on 0808 189 0463 and we’ll make sure an offset mortgage specialist contacts you straight away to discuss further.
Ask Us A Question
We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in all different mortgage subjects. Ask us a question and we'll get the best expert to help.
Pete Mugleston
Mortgage Expert, MD
About the author
Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.
Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!
