Go paper-free
Amend paper-free preferences for your statements and correspondence.
Switch to a repayment mortgage calculator
You can use this calculator to work out how much it could cost you to switch some or all of your mortgage balance to repayment.
There are two ways you can use this calculator:
- Switching all of your mortgage to repayment
- Switching part of your mortgage to repayment
The calculator is for illustrative purposes only and is based on some key assumptions, which are shown in the 'How the calculator works' section of this page, it should be used as a guide only. You can call us to get a personalised illustration.
-
Interest only
Repayment
Interest only
Amount
Repayment
Enter the amount you want on interest only.
You can find your balance in your mortgage statement.
Enter the amount you want on repayment.
Interest only
Term
Repayment
Enter your mortgage term to the nearest year.
You can find this in your mortgage statement.
Enter your preferred mortgage term to the nearest year.
You may be able to extend your term when you switch to a repayment mortgage to make it more affordable for you. This means you’ll pay less each month but pay more interest overall. You’ll need to meet our criteria to extend your term, and we can talk you through this when you get in touch.
Interest only
Interest only
Repayment
Enter your interest rate e.g. 3.59%.
You can find this in your mortgage statement.
Enter your interest rate e.g. 3.59%. We’ll tell you what rates you qualify for and are available when you apply.
Interest only
Monthly payment
Repayment
This is an estimate and may differ from your actual payment.
This is an estimate and may differ from your actual payment.
Interest only
Balance at end of term
Repayment
With an interest only mortgage because your payments only cover the interest, at the end of your mortgage term, you will have to repay the mortgage balance.
- Repayment - With a repayment mortgage, if you make all your monthly payments there is nothing left to repay at the end of your mortgage term.
- Part and Part – This is a combination of interest only and repayment, meaning at the end of your mortgage term, you will have to repay the interest only element.
Interest only
Total amount payable
Repayment
Total you’ll repay over the term of the mortgage.
Total you’ll repay over the term of the repayment mortgage.
We use the following assumptions in the calculations, please read:
- All years are of equal length.
- Interest is calculated monthly.
- Total interest is rounded to the nearest pound.
- Total balance is rounded to the nearest pound.
- The calculator does not take into account any changes in interest rate.
- There will not be any other changes to your mortgage which would result in a recalculation of your monthly payment.
Interest onlyWith an interest only mortgage because your payments only pay the interest, at the end of your mortgage term, you have to pay the mortgage balance. At the end of you term you will have to pay.
Monthly payment
##ipm##
Total amount payable
##iotot##
Balance at end of term
##iobal##
RepaymentWith a repayment mortgage, as long as you make all your monthly payments there is nothing left to repay at the end of your mortgage term.
Monthly payment
##repmp##
Total amount payable
##reptotal##
Balance at end of term
##rebeo##
Increasing the term will reduce the monthly payment but increase the total amount of interest payable over the term. Reducing the term will increase the monthly payment but decrease the total amount of interest payable over the term.
-
Call us to speak to one of our mortgage and protection advisers. We can talk you through how to switch all or part of your mortgage onto repayment.
One of our team will review your needs, circumstances and eligibility when they talk to you.
-
The calculator doesn’t take into consideration any early repayment charges that may apply. Your mortgage statement will tell you if any early repayment charges apply to your mortgage.
Learn more about the difference between repayment and interest only mortgages.