Remortgage Calculator UK
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Use this remortgage calculator to compare your current monthly payment with a new rate, and see whether switching could save you money once fees are included. It takes about a minute, and nothing you enter is stored or sent anywhere.
Remortgage calculator
Enter your figures below. The example values are only a starting point, so replace them with your own.
| Over the new deal | Current rate | New rate |
|---|---|---|
| Total payments | - | - |
| Cost of switching | £0 | - |
| Total cost | - | - |
| Balance left at the end of the deal | - | - |
This calculator is for illustration only. It assumes the rate stays the same for the whole deal and then compares like with like. It is not a mortgage offer, and your real payments depend on the lender and your circumstances.
How the remortgage calculator works
A remortgage calculator compares two versions of the same loan: what you pay now, and what you would pay on a new rate. It works out your monthly payment from your balance, your interest rate and the number of years left, then does the same again with the new rate. The difference is the amount you could save each month.
The calculator then adds up what you would pay over the length of the new deal, includes the cost of switching, and shows the saving after fees. That last figure is the one that matters, because a lower rate with a high fee is not always the cheaper deal overall.
If you are not sure how switching works, read our guide on how to remortgage in the UK first.
What to enter in the calculator
- Mortgage balance: the amount you still owe, which is on your latest mortgage statement.
- Property value: your best estimate. This is used to show your loan-to-value (LTV), the share of the home's value you still borrow. A lower LTV often gives access to cheaper deals.
- Years left: the remaining term, not the original term.
- Current rate: if your deal has ended, this is usually the lender's standard variable rate, which is shown on your statement.
- New rate: the rate on a deal you have seen or been quoted. Rates change often, so use a current figure.
- Cost of switching: add the arrangement fee, valuation, legal costs and any exit fee or early repayment charge together.
Is it worth remortgaging?
It can be worth remortgaging when the saving over the deal is clearly bigger than the cost of switching. As a simple check, divide the total cost of switching by your monthly saving. The answer is roughly how many months it takes to break even.
| Question | Why it matters |
|---|---|
| Is the saving bigger than the fees? | If not, staying put or choosing a deal with lower fees may cost less. |
| Will I leave my current deal early? | An early repayment charge can wipe out the saving, so check it first. |
| Has my LTV improved? | A lower LTV can open up lower rates than the ones you see today. |
| Would a product transfer be cheaper? | Staying with your lender can mean fewer fees and less paperwork. |
A broker can compare deals across the market and check this for you. You can ask for a free remortgage quote at any time.
Costs to include when you remortgage
The costs to remortgage vary by lender and by deal. These are the main ones to add to the calculator:
- Arrangement or product fee: often around £1,000, though some deals charge more and some charge none.
- Valuation fee: many lenders offer a free valuation, others charge a few hundred pounds.
- Legal fees: many lenders cover these on a standard remortgage.
- Exit fee: usually a modest charge from your current lender when you repay the loan.
- Early repayment charge: only if you leave a fixed or discounted deal before it ends.
For a fuller breakdown, see our page on how much it costs to remortgage.
Remortgage calculator FAQs
How does a remortgage calculator work?
A remortgage calculator takes your mortgage balance, remaining term and interest rate, works out your monthly payment, and compares it with the payment on a new rate. Adding the fees on the new deal shows whether switching is likely to save you money over the length of the deal.
How much could I save by remortgaging?
It depends on your balance, your current rate, the new rate and the fees. A lower rate lowers your monthly payment, but arrangement, valuation and legal fees can reduce the overall saving, so compare the saving over the whole deal rather than the rate alone.
Does the calculator include fees?
Yes. You can enter the fees for the new deal, and the calculator subtracts them from the saving over the deal period. Enter any exit fee or early repayment charge on your current mortgage as well.
Is the result a mortgage offer?
No. The result is an illustration based on the figures you enter. Your actual payments depend on the lender, your circumstances and the deal you are offered.
This calculator and page are for general information only and are not financial advice. Results are illustrations and are not a mortgage offer. Your home may be repossessed if you do not keep up repayments on your mortgage.