Mortgage payment holiday calculator

This simple calculator will help you understand how your payments will change if you take a mortgage holiday.

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Calculated payments

By taking the mortgage holiday you will not pay over the holiday months. After the holiday your payments will change as shown in the table below. It also shows the increase in the total amount repaid.

Before holiday After holiday Increase
Monthly Payment
Total Repaid

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Explained

What is a mortgage payment holiday?

A mortgage payment holiday is when you take a break from paying your monthly mortgage payment.

Impact on the total size of the mortgage?

You are still charged interest on the mortgage during the payment holiday; this means the total amount you owe the mortgage lender will increase.

Impact on the monthly payments?

Generally, the term of your mortgage will not be extended as a result of a payment holiday; this means your monthly payments will increase to account for the additional debt.

How does this work?

The calculator assumes your mortgage interest rate has not changed since taking out the mortgage and will not change in the future. It also assumes you have made the minimum monthly payment since taking out the mortgage and will continue to do so in the future. The calculator does not apply to interest only mortgages.

The calculator uses the payment day (of the month) and the date the mortgage was taken out to calculate how much you have currently repaid.

This calculator pays down the mortgage via constant monthly payments and monthly interest (after payment). This makes the calculation a geometric series which can be solved to give the payment value.

Mortgage payment holiday policies may vary from lender to lender, so it’s important to double check with your mortgage lender how a mortgage payment holiday will impact you. It is also important to understand the impact on your credit rating when considering a mortgage holiday.

Transparency, privacy and security

All data is encrypted and securely stored in the UK. We don't share or sell data. We are regulated by the UK Financial Conduct Authority and are completely independent. We make no money from product and service recommendations. We make money from subscriptions alone.
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