Early mortgage repayment calculator
See how much you save by making a lump-sum overpayment on your mortgage: cut years off the term or lower your monthly payment.
Your mortgage details
What you still owe the bank today.
The money you want to pay off in one go.
Per your contract. On variable-rate loans it's usually 0–0.25%; on fixed-rate, up to 2%. Leave it at 0 if you have none.
Your mortgage now
If you overpay 10.000 €
For the same overpayment, cutting the term always saves more interest. Choose to lower the payment only if what you need is to ease the monthly cost.
How is this calculated?
The saving shown is the difference between the interest you'd pay if you did nothing and the interest you'll pay after your overpayment (minus the fee, if any). That's why the subtraction appears under each figure.
- We use the French amortisation system (constant payment), the one banks use in Spain.
- Your overpayment is subtracted entirely from the outstanding balance: from then on you pay interest on less money.
- Cutting the term keeps your current payment and recalculates how many months are left. Lowering the payment keeps the years and recalculates the monthly amount.
- We assume the interest rate stays constant. On variable-rate mortgages the result is an estimate, since the Euribor can go up or down.
How your debt evolves
Outstanding balance year by year. The sooner the curve drops, the less interest you pay.
Guide: how overpaying early works
It means paying money forward to repay part of the loan ahead of schedule. That money goes entirely toward reducing your debt (the outstanding balance), so from then on you pay interest on a smaller amount. The result: you pay less interest overall.
Cut the term: you keep paying the same amount each month, but you finish the mortgage sooner. This is the option that saves the most interest.
Lower the payment: you keep the same years, but your monthly payment drops. You save less interest, in exchange for breathing easier each month.
Early in the mortgage is when cutting the term saves you the most interest, because you have a long way to go. If what you need is to lower your fixed monthly cost (because of a change in income, a child, etc.), lowering the payment makes more sense even if you save less.
Some contracts charge a small fee for repaying ahead of schedule. The law caps it: on variable-rate mortgages it's usually at most 0.25% in the early years, and up to 2% on fixed-rate. Many mortgages charge nothing. Check your deed and enter it above to see your real saving.
* This calculator provides an indicative estimate. The real saving depends on the terms of your contract, any early-repayment fees and how your lender applies the operation. Check your deed or ask us for a personalised review.