Offset mortgage calculator

See how much your could save

Use our offset mortgage calculator to see how your savings could reduce your mortgage term or monthly payments.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Offset mortgage calculator

The results from the calculator are just examples to help you plan your budget. It doesn’t provide all the details you need to choose a mortgage. We’ve also made certain assumptions1 to let us calculate the example figures for you.

If you apply for a mortgage with us, we’ll give you a document called a Key Facts Illustration that includes everything you need to know before making a decision. You can also save copies of our latest our mortgage rates 280 KB and our tariff of charges 210 KB, and read our important legal information.

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Step1 of 2

Your Mortgage

Please tell us about your mortgage requirements so we can provide you with a more accurate Offset illustration.

* Please correct or complete the fields below.
Enter currency in £
Enter currency in £
Mortgage term
Enter currency in £
Enter currency in £
Enter percentage %

Step2 of 2

Your Savings

Please tell us about your existing savings and current account balances and any future savings plans so we can provide you with a more accurate Offset illustration

* Please correct or complete the fields below.
Enter currency in £
Enter currency in £
Enter percentage %
Enter currency in £

Add a lump sum

Enter currency in £
Date

Results

Do you want to reduce your mortgage term or reduce my monthly payments?

Please wait for the graph to load...

You could:

Features of offsetting:

  • Use your savings to reduce the term of your mortgage or your monthly repayments
  • Instant access to your savings
  • View and manage your accounts online
  • Make unlimited overpayments, subject to any early repayment charge restrictions

Graph information:

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After [info1TextPeakMonth] your savings balance will be the same as your mortgage balance and you could choose to use your savings to finish the mortgage reducing the term by [info1TextPeakReduction]. After [info2TextOffsetEnd] your mortgage balance will be zero and you could still have your savings. Doing this would have reduced your mortgage term by [info2TextOffsetEndReduced] and saved you £[info2TextEndSaving] in interest. This is the point where your mortgage would end without an offset arrangement. At the start of your mortgage, your monthly payment would be £[info4InitialPayment]; offset saving of £[info4InitialPaySaving] this month. After [info5PeakMonth] your mortgage balance is now equal to your savings balance, so you can choose to settle your mortgage now. If you wish to continue making monthly payments, you will notice your capital repayments increase so that your mortgage balance can be cleared at full term of [info5OffsetTerm] Congratulations, your mortgage term has now ended and your mortgage balance is £0.00. Offset savings to date are: [strong] £[info6TotalSavings][/strong] You could reduce the term of your mortgage by [ymaddition]
By choosing to offset your savings of £[currentSavings] and reduce the term of your mortgage, we will collect the monthly mortgage of £[savingsMonthly] as normal. We will then deduct any offset benefit from the capital balance, thus your mortgage term would reduce by [timeReduction].

Offset savings will not automatically reduce the term of a mortgage balance that is partly interest only, just the amount of interest paid. To do this, you can

  • Continue to pay the contractual monthly mortgage payment to reduce the mortgage balance.
  • Use your savings to make overpayments to reduce the mortgage balance, as this will not be done automatically. Once your outstanding mortgage balance is the same or less than your savings balance, you can then pay off the outstanding amount.

The savings you have entered would not reduce your term

Offset savings will not automatically reduce the term of a mortgage balance that is partly interest only, just the amount of interest paid. To do this, you can

  • Continue to pay the contractual monthly mortgage payment to reduce the mortgage balance
  • Use your savings to make overpayments to reduce the mortgage balance, as this will not be done automatically. Once your outstanding mortgage balance is the same or less than your savings balance, you can then pay off the outstanding amount.
You could save £[savedInt] in mortgage interest when you offset your savings
Offsetting uses what's in your savings and current account to reduce the mortgage balance you are charged interest on. Based on information provided, this would reduce the amount of interest you pay on your mortgage by £[savedInt]. And with less interest to pay, you can pay your mortgage off quicker.
You could save paying £[savePayingTax] in tax on your savings interest
Because you are not earning interest on savings linked to your offset mortgage, you won't pay any tax on the balances offset. Saving you up to £[savePayingTax] in tax.
Save £[saveMonthly] on your monthly payments
By offsetting, your monthly mortgage payment is reduced to reflect the credit balances in your offset arrangement. Based on your input, your projected savings balance of £[projectSavings] would reduce your monthly payment to £[reduceMonthlyTo] - a reduction of £[reductionMonthly].
Save £[intSaved] in mortgage interest when you offset your savings
Offsetting uses what's in your savings and current account(s) to reduce the mortgage balance you are charged interest on. Based on your input, this would reduce the amount of interest you pay on your mortgage by £[intReducedBy].
Save paying £[saveTaxInt] in tax on your savings interest
Because you are not earning interest on savings linked to your offset mortgage, you won't pay any tax on the offset balances; saving you up to £[saveTaxInt] in tax.
Please enter your current property value. Please enter a number without characters or spaces. The value entered is too high/too low. Please enter your mortgage amount. Please enter a number without characters or spaces. The value entered is too high/too low. The value entered is too high/too low. Please enter your Interest only amount. Please enter a number without characters or spaces. The value entered is too high/too low. Please enter your repayment amount. Please enter a number without characters or spaces. The value entered is too high/too low. Please enter your interest rate. Please enter a number without characters or spaces. Please enter a valid interest rate. The value entered is too high/too low. Please enter a number without characters or spaces. Please enter a number without characters or spaces. Please enter the saving rate. Please enter a number without characters or spaces. The value entered is too high/too low. Please check this savings rate is correct. If yes, click next to proceed. Please enter an amount. Please enter a number without characters or spaces. The value entered is too high The current account value cannot be less than 0. Please enter an amount. The value entered is too high The value entered is too high The value entered is too high Please select a month and year. Please select a year. Please select a month. You have added a lump sum either before your loan would start or after your selected term would end. Please change your lump sum entry. Offset savings will not automatically reduce the term of a mortgage balance that is interest only, just the amount of interest paid Offset savings will not automatically reduce the term of a mortgage balance that is partly interest only, just the amount of interest paid The savings you have entered would not reduce your term You could repay your mortgage [strong][early] early[/strong] and still have access to your savings You could save on average [strong]£[saveMonthly][/strong] on your monthly payments and still have access to your savings Please enter a number without characters or spaces. The value entered is too high/too low. Please enter a number less than the mortgage amount. The Interest Only and Repayment Amounts do not add up to the Mortgage Amount you have entered. Please note the Repayment amount has been adjusted to add up to the Mortgage Amount. The Interest Only and Repayment Amounts do not add up to the Mortgage Amount you have entered. Please note the Interest only amount has been adjusted to add up to the Mortgage Amount. Current rate: [strong][lowestRte]%[/strong] - This is the lowest offset mortgage rate which is currently available based on your [em][loantoval]% LTV[/em] We currently do not offer an offset product with a [em][loantoval]% LTV[/em]. If you're able to, please reduce the mortgage amount required using your savings. If you're happy with your input, please enter an alternative interest rate and click option to continue with illustration anyway. Please wait while the graph loads... Normal Mortgage Offset Mortgage Offset Savings Offset Mortgage Payments Offset Mortgage Payments Years year month years months Outstanding Mortgage (£) Monthly payment (£) Ended At Start Continue illustration anyway Error:

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