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Overpayment Calculator
ANewMrs
Posts: 5 Forumite
Hi Everyone,
After a few posts when I was A New Mrs (almost 7 years ago!) I disappeared from the forum. Overpayments have been on and off since but I am suddenly hit by an urge to take things a little more seriously!
I have a further loan on my mortgage that I would like to pay off in 3 years (currently due to end Feb 2029). Is there a calculator where I can work out how lump sum payments would affect this?
The balance is £19331.36 and I pay £149.10 a month. I have started to overpay by a minimum of £100 a month and would now like to work out what lump sum I would need to pay each year, to clear it in the 3 years. Does that make sense?
I've looked at the MSE calculator but I can only add one lump sum on that alongside my monthly payments.
Any help would be great!
Thanks
After a few posts when I was A New Mrs (almost 7 years ago!) I disappeared from the forum. Overpayments have been on and off since but I am suddenly hit by an urge to take things a little more seriously!
I have a further loan on my mortgage that I would like to pay off in 3 years (currently due to end Feb 2029). Is there a calculator where I can work out how lump sum payments would affect this?
The balance is £19331.36 and I pay £149.10 a month. I have started to overpay by a minimum of £100 a month and would now like to work out what lump sum I would need to pay each year, to clear it in the 3 years. Does that make sense?
I've looked at the MSE calculator but I can only add one lump sum on that alongside my monthly payments.
Any help would be great!
Thanks
0
Comments
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Thismuchiknow.co.uk has a really good overpayment calculator. Hope you find it from that as cant post link at the moment. Otherwise there is a spreadsheet by locoblade on the forum somewhere.Nov 2025 - part 1 - £13,878 part 2 - £20,953 Total - £34,832 24 months to go!0
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Hi CathT,
That's great, thanks! I just used that calculator and now know the yearly lump overpayment I need. Realistically I think it will take 3 and a half years but have something to aim for Going to have a look at some diaries now to get me motivated! 0
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