With Prepayment Options (Shorten Term or Reduce Payment)
Enter loan details above
Savings information will appear here after recalculation.
Amortization Schedule
Month
Payment
Principal
Interest
Prepayment (£)
Balance
Important Notes:
Calculations show Principal and Interest (P&I) only. Initial calculation assumes no prepayments.
Editable Prepayments: Enter extra payments into the 'Prepayment' column inputs and click one of the 'Recalculate' buttons.
**Shorten Term:** Keeps the original monthly payment amount; loan pays off faster.
**Reduce Payment:** Keeps the original loan term length; monthly payment amount reduces after prepayment.
Savings are calculated based on the reduction in total interest paid compared to the original schedule without prepayments.
Actual monthly payments will likely be higher due to insurance, etc. Council Tax is also separate.
Calculations assume the interest rate is fixed for the entire loan term.
Lender fees and potential early repayment charges (ERCs) are not included.
This calculator provides an estimate for illustrative purposes only. Always consult a qualified mortgage advisor and refer to official lender illustrations. Minor rounding differences may occur.