Useful mortgage tools
Our useful tools will help you plan and consider some of your mortgage options. They’re all free to use and there are no credit checks involved.
The tools will give you an idea of how different changes could affect your mortgage – for example your monthly payments, the overall balance you owe, or the amount of interest you’ll pay over your remaining term.
The results of each tool should only be used as a guide, so please contact us to discuss the specific impact on your mortgage.
Please note – our calculators are best viewed on a desktop or laptop PC. If you are using a tablet or a smart phone, they work correctly, but are easier to use in landscape format.
Rate rise calculator
See how an interest rate rise could affect your monthly mortgage payments.
Rates have changed several times in recent years, so planning now can help you prepare for any future increases in your payments.
Using this tool
You’ll need to know your outstanding balance, type of mortgage (interest only or repayment), current interest rate and how long is left on your mortgage.
Find out how to quickly see up to date information about your mortgage account
If your mortgage is made up of multiple sub-accounts you can enter details for each part separately.
Understanding the results
Our calculator shows the increase in monthly payments, for a repayment or interest only mortgage, at a range of different interest rates.
The results you’ll see are based on the information you have entered for your current balance, interest rate and remaining term.
Our calculator uses a simple method to determine the amount of interest you’ll pay as part of your monthly payment, by dividing the total amount of interest you’ll pay over a full year into 12 equal monthly amounts.
Since interest on your mortgage may be calculated differently (such as on a daily basis), then the actual change in your monthly mortgage payments after an interest rate increase may differ slightly to the figures shown in the calculator.
This means the results should only be used as a guide.
Read more information about rate changes on the Rate Change Information page of our website.
Overpayment calculator
See the positive impact making overpayments could have on your mortgage.
Whether it’s a regular monthly overpayment or a one-off amount, you might be surprised how much difference it makes.
Using this tool
You’ll need to have an idea of the amount you can afford to overpay. You’ll also need to know your outstanding balance, type of mortgage (interest only or repayment), current interest rate and how long is left on your mortgage.
Find out how to quickly see up to date information about your mortgage account
If your mortgage is made up of multiple sub-accounts, you won’t be able to use the calculator and you’ll need to call us to discuss your situation.
Benefits of making overpayments
Overpayments are easy to set up and you won’t be charged any fees by us for making them.
You can make additional payments to reduce your mortgage balance every month or as a one-off lump sum at a particular point.
Each overpayment you make helps reduce your mortgage balance meaning you’ll pay less interest over the term of your mortgage.
Reducing your balance could also reduce your loan to value ratio (the amount you owe compared to how much your property is worth) which could make it easier for you to remortgage in the future.
Understanding the results
Our calculator shows how making overpayments on a mortgage reduces the total amount of interest paid and balance owed at the end of the mortgage term.
The results you’ll see are based on the information you have entered for your overpayment amount, current balance, interest rate, type of mortgage and remaining term.
Our calculator uses a simple method to determine the amount of interest you’ll pay on your mortgage, by dividing the total amount of interest you’ll pay over a full year into 12 equal monthly amounts.
Since interest on your mortgage may be calculated differently (such as on a daily basis), then the actual impact of making overpayments on your mortgage may differ slightly to the figures shown in the calculator.
Our calculator also makes several other assumptions, including:
- You make your standard monthly payment every month over the full remaining term of the mortgage.
- You make the same regular monthly overpayment amount (if any) every month over the full remaining term of the mortgage.
- There is no change to your interest rate over the full remaining term of the mortgage.
- There are no fees or charges added to your mortgage.
- There are no other changes to your mortgage which would result in a recalculation of your monthly payment (e.g. changes to your remaining term or a switch to repayment/interest only basis).
Since some of these assumptions may not apply to your mortgage, the results of this calculator should only be used as a guide.
Find more information about overpayments – such as how to set them up and maintain them over the term of your mortgage see the making overpayments page of our website.
