Both shorten your mortgage. Remortgaging to a shorter term locks in a higher monthly payment forever; overpaying keeps you flexible. The total interest saved is similar — but the trade-offs are very different.
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.
Forces a higher contractual monthly payment for the whole next deal. Lender re-checks affordability. Some product fees apply. Most disciplined approach — no decision required each month.
Keep the longer contractual term but overpay each month. Fee-free up to 10% of balance per year. Total interest saved is roughly identical to a shortened term if you keep the overpayments going — but you can stop any time.
When your fix ends, shorten the term as much as you can afford. In between deals, overpay within the 10% cap. This combination is the fastest realistic route for most UK homeowners to clear a mortgage in 12–18 years instead of 25.
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.