How much can I overpay on my mortgage?
Most UK lenders let you overpay 10% of your balance each year, fee-free, during a fixed or tracker deal. Here's what that actually means in pounds — and how to find your exact limit.
Most UK lenders let you overpay 10% of your balance each year, fee-free, during a fixed or tracker deal. Here's what that actually means in pounds — and how to find your exact limit.
You'll be mortgage-free 6 years 9 months earlier
and save £46,940 in interest.
| Without | With overpay | |
|---|---|---|
| Term | 25 years | 18 years 3 months |
| Total interest | £156,277 | £109,338 |
| You save | £46,940 · 6y 9m |
A lower interest rate could save you thousands more on top. See if you could remortgage to a better deal.
We may receive a commission if you remortgage through a partner broker. This never affects the rate you're offered.
On a £200,000 mortgage, that's £20,000/year — or roughly £1,666/month. On a £350,000 mortgage, it's £35,000/year. The cap usually resets every January (or your deal anniversary, depending on the lender).
If you've never overpaid before, that ceiling is much higher than most people imagine. The realistic limit for most homeowners is what they can afford, not the lender's cap.
Halifax: 10% of outstanding balance per calendar year. Nationwide: 10% of original loan per year. Santander: 10% of outstanding balance per year. NatWest: 10% of outstanding balance per year. Barclays: 10% of outstanding balance per calendar year. HSBC: 10% of outstanding balance per calendar year. Lloyds Bank: 10% of outstanding balance per year. TSB: 10% of original loan per year.
Always confirm in your individual mortgage offer — products vary, especially older fixed deals.
Early repayment charges typically run 1–5% of the excess amount. On most fixed deals the ERC tapers as you approach the end — so the last year of a 5-year fix usually has the smallest charge.
Once you roll onto SVR, the cap and ERCs usually disappear and you can overpay freely.
Important: This article is for general information and is not financial advice. Always speak to a qualified UK mortgage adviser before making decisions about overpayments, remortgaging, or your specific mortgage product.