Extend Mortgage Term Calculator

Extending your mortgage term reduces monthly payments but means more total interest. Switching to interest-only reduces payments to the minimum but leaves the full capital outstanding. This calculator shows the exact trade-offs.

Enter your current balance, interest rate, and remaining term, then compare against an extended term of your choosing. Extending the mortgage term reduces the monthly payment, which can help with short-term affordability pressure. However, total interest paid increases substantially — the calculator shows both the monthly saving and the additional total cost of extending, allowing you to assess whether the trade-off is worthwhile. Many lenders will allow a term extension on application if you are not in arrears. If you later improve your financial position, overpayments can reduce the outstanding term without the original term being permanently locked in. This makes term extension a reversible decision — which makes it more defensible than it might initially appear.