Mortgage over payment calculator

[Regiment]

Just going to be starting my mortgage soon and looking at what a difference throwing in extra money will be. I've found overpayment calculators online if I want to pay off the mortgage early but can't find a calculator if I want to look at lowering my monthly repayments, can anyone point me in the direction of one please?

[Regiment]

Mandat said:

I think that the whole point of overpaying is to reduce the mortgage term (and therefore the total interest payable).

What benefit will there be in overpaying, in order to reduce the monthly payments? Won't the payments effectively cancel each other out?

The idea is that instead of a compulsory £480 a month to pay each month, it'd steadily come down each month so if something happens, I can put the extra money towards something else.

[Regiment]

SunsetZed said:

OP I suggest you download this:
http://forums.moneysavingexpert.com/showthread.php...

Should give you everything that you need.

Thank you, looks great.