Switch to a repayment mortgage

Repayment calculator

This calculator illustrates the potential impact of switching from Interest Only to a Repayment mortgage. Simply enter the key details about your mortgage and the tool will illustrate the differences between these two payment methods.

Please note - With a Repayment mortgage, your monthly payments will be higher as they cover the interest on the amount you've borrowed and they will also reduce the balance of your loan. However, provided you stay on track with your monthly payments, your mortgage will be completely paid off at the end of the term.

Useful tools

We have a number of mortgage tools and calculators to illustrate and help you understand the options available to you.

Your current mortgage

Please enter a valid mortgage balance

What is your outstanding mortgage balance?

£ e.g.125000

Please enter a valid Year/Month

How long do you have left on your mortgage?

e.g.15 Years

e.g.3 Months

Please enter a valid Interest Rate

What is your current interest rate?

e.g.2.5 %

Please enter a valid Switch Rate

How much of your interest only mortgage would you like to switch?

e.g.100 %

See results

Calculation results

	Interest Only	Repayment Mortgage
	Current term	Current term	Chosen term
Monthly Payment
Total interest amount payable over term
Balance owed at end of term
Total amount payable over term (Capital plus Interest)
Saving in total amount payable compared to Interest-only	n/a

Results - How much would you pay over your mortgage term of ?

	Total	Per month
Interest only Info – Monthly payments cover the interest but do not reduce the outstanding balance. Unless additional payments are made, your mortgage will not be repaid by the end of its term and you will then need to repay any outstanding balance as a lump sum.
Part & part (%) Info – A loan made up of Interest Only and Repayment parts. At the end of the term, the Repayment part should have been repaid in full, but the Interest Only part will need to be repaid as a lump sum.
Repayment mortgage Info – Monthly repayments should pay off both the capital amount borrowed as well as the interest, as long as you maintain your monthly payments. So by the end of the term your mortgage will have been repaid in full.

AMOUNT PAYABLE
(CAPITAL + INTEREST)

How much would you need to repay when your mortgage term ends in ?

	Payable
Interest only
Part & part (%)
Repayment mortgage

FINAL BALANCE
REPAYABLE FEB 2032

Edit details Next steps

What can you do next?

Call us to switch

For more information about switching to a repayment mortgage, please contact us.

Make overpayments instead

Overpayments are easy to set up, they can be made at any time and you will not be charged any fees by us for making them.

Find out more about Interest only

Our specialist team can help to develop a repayment strategy that's right for you.

Switch to a new rate

If you're thinking of switching your mortgage deal, we're here to help.

Back to results

Understanding the Bank of England Base Rate change.

We've got all the information, support and guidance you need.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

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Whistletree is a trading name of TSB Bank plc. TSB Bank plc. Registered Office: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH. Registered in Scotland No. SC95237. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 191240. TSB Bank plc is covered by the Financial Ombudsman Service.

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Using this online form

Please ensure you complete all sections accurately to help us process your form as quickly as possible. We may not be able to process your request if the form is incomplete or contains errors.

You can find details of your account number and normal monthly payment date on your annual mortgage statement. We also include account numbers on most letters that we send to customers.

Request a payment holiday

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