Offset Mortgage Calculator
Find out how much you could save each month, or how much sooner you could be mortgage-free, with our offset mortgage calculator.
How much could an offset mortgage save you?
An offset mortgage links your savings to your mortgage, reducing the balance on which interest is charged.
Use our offset mortgage calculator to estimate how your savings could reduce your monthly payments or help you repay your mortgage sooner.
Please note: This calculator provides an estimate only. Actual savings will depend on your mortgage rate, savings balance and the terms of the offset mortgage available to you.
Could your savings work harder against your mortgage? Speak to an Oportfolio mortgage adviser to explore your offset mortgage options.
FAQ: Offset Mortgage Calculator
How does offset mortgage repayment work compared to a standard mortgage?
On a repayment mortgage, offsetting reduces the interest charged each month, so a larger share of your payment goes towards clearing the capital instead. You can usually choose whether that benefit shows up as a lower monthly payment or a shorter overall term. On an interest-only mortgage, there's no capital being repaid, so offsetting only ever reduces the payment itself.
Is offsetting the same as overpaying my mortgage?
Not quite, though the outcomes can look similar. Overpaying reduces your mortgage balance directly, and it's usually permanent, some lenders cap how much you can overpay each year without a penalty. Offsetting reduces the balance you're charged interest on for as long as the savings stay in the linked account, but the money remains yours and stays fully accessible. It's a more flexible way to get a similar effect.
This information is a guide only and should not be relied on as a recommendation or advice that any particular mortgage is suitable for you. All mortgages are subject to the applicant(s) meeting the eligibility criteria of the specific lender. You should make an appointment to receive mortgage advice which will be based on your needs and circumstances.