What voluntary repayments save you

Most modern lifetime mortgages let you pay back up to around 10% of the amount borrowed each year with no early repayment charge. You do not have to, but every payment slows the roll-up of interest. This tool compares the balance with and without an annual voluntary payment so you can see the difference.

Amount borrowed (£)

Interest rate (% per year)

Number of years

Voluntary payment per year (£)

Many plans cap voluntary repayments at about 10% of the original loan each year. Paying above the cap can trigger an early repayment charge, so check your plan terms.

Balance with and without voluntary payments

Item	Amount

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