Remortgage Calculator
Enter your balance, remaining term, current and new rates, and the costs of switching.
Both mortgages are repayment mortgages over the years left. This is an estimate to help you plan and not advice.
Worked examples
5.9% down to 4.4%
£180,000, 22 years left, £999 fee, 5 year deal
£153.52 a month saved
The payment falls from £1,218.92 to £1,065.40 and the fee is recovered in 7 months.
About Remortgage Calculator
When a fixed rate ends, most people are moved onto their lender's standard variable rate, which is often higher. Switching to a new deal can cut your payment, but new deals can come with arrangement fees, valuation and legal costs, and leaving early can trigger an early repayment charge. The right question is how long the monthly saving takes to cover those costs.
Enter your balance, the years left, your current rate and the new rate, plus the fees and any early repayment charge. Tick the box if the fees will be added to the mortgage, which saves paying them now but means you pay interest on them. The page shows both monthly payments, the saving, the time to recover the cost, the saving over the length of the new deal, and the balance you would owe at the end of each.
How to use Remortgage Calculator
- Enter your mortgage balance and the years left.
- Enter your current rate and the new rate.
- Add the length of the new deal, the fees and any early repayment charge.
- Tick the box if fees will be added to the loan, then read the saving and the time to recover the cost.
Common uses
- Deciding whether to switch before a deal ends
- Weighing a low rate with a high fee against a higher rate with none
- Seeing whether paying an early repayment charge is worth it
- Comparing balance after the deal for each option
Sources
Last reviewed 18 October 2026.
Frequently asked questions
When should I start looking for a new deal?
Many lenders let you lock in a new deal up to six months before your current one ends. That lets you lock in a rate without paying the standard variable rate.
Should I add fees to the mortgage?
It avoids paying them upfront, but you pay interest on them over the term, which costs more in total. If you can afford to pay them, it is usually cheaper.
What is an early repayment charge?
A charge for leaving a fixed or discounted deal before it ends. It is often a percentage of the balance that falls each year. Check your mortgage paperwork.
Are both mortgages repayment mortgages?
Yes. The page assumes repayment mortgages over the same remaining term, with monthly interest on the balance.
Does the page include legal and valuation costs?
Only if you include them in the fees you enter. Many remortgages come with valuations and legal work, but check each offer.