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Mortgage Payoff Calculator

Want the mortgage gone in 10 years instead of 22? See exactly what monthly payment that requires.

Short answer

To pay off a mortgage faster, calculate the standard monthly payment for the shorter term — the difference is your required overpayment.

Your mortgage

£
%

Fill in the fields above to see your result instantly.

Calculation method, coverage and version

Inputs used
Outstanding balance, Interest rate, Current years remaining, Target payoff (years).
Calculation approach
The calculator applies the rules and assumptions described in “How it works” to the values you enter. Rounding can cause small differences from an official or provider calculation.
Coverage
Mortgages & Money. UK nations, tax treatment, local rules and provider criteria can differ; check the official sources shown below before acting.
Content version
No page-specific review date is currently published. Treat the result as indicative and verify current rules independently.
Not included unless explicitly requested: personal circumstances not entered, provider discretion, future rule changes, professional fees and case-specific exceptions. Read the full calculator methodology.

Primary sources and official verification

Use these official sources to verify current rules before acting. Coverage and dates can differ across England, Scotland, Wales and Northern Ireland.

See the sitewide source policy.

How it works

The required monthly payment is calculated using the standard amortising formula M = P × r / (1 − (1+r)⁻ⁿ), with n set to your target months. The difference vs your current payment is the overpayment you need.

Worked example

£180k at 4.5%, current 22yrs left (£1,074/mo). To clear in 10 years: pay £1,866/mo — £792/mo extra, saves ~£70,000 interest.

Who should use this

  • •Pre-retirees wanting to be mortgage-free
  • •Anyone with new income (promotion, inheritance) wanting to accelerate payoff
  • •Comparing payoff scenarios

Common mistakes

  • ×Picking an unrealistic target — modeling helps but emergency fund first
  • ×Forgetting overpayment caps and ERCs
  • ×Tying up cash you'll need for other goals

Frequently asked questions

Is paying off the mortgage early worth it?▾

It's a guaranteed return equal to your mortgage rate. Compare to alternative uses (pension matching, ISA, debt clearance).

Related calculators

Mortgage with Extra Payments →Bi-Weekly Mortgage →Mortgage Repayment →