£250,000 at 4.92% over 25 years · £0.00 a month extra

£0.00 a month clears it no time at all early

You'd pay £1,450 a month instead of £1,450, and save £0.00 in interest.

Interest £184,954 → £184,954Cleared in 25 yearsPayment £1,450

Every £1 off the balance saves you 4.92% a year, guaranteed and tax-free.

Interest falls from £184,954 to £184,954. Green is what overpaying saves.

Or invest it instead

Investing must beat

0.00%

a year, after charges and tax

Overpay, then invest

£0.00

clear it no time at all early, then invest the whole payment

Invest instead

£0.00

keep the mortgage, invest the £0.00 from the start

Both end after 25 years with the mortgage gone, if returns average 9.3% a year — a guess, unlike the figure above it. Change it in the form below. Where 9.3% comes from and what it hides.

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What this assumes

Assumes 4.92% for the whole 25 years. Almost everyone is on a two- or five-year fix.
Interest charged monthly on the outstanding balance. Some lenders charge daily, which makes overpaying slightly better than shown.
Nothing here is advice. An emergency fund, your pension and any dearer debt all come first, and none of them are in this calculator.