ESTIMATED MONTHLY DIFFERENCE
£0.00
Enter your remortgage details to calculate.
This calculator gives an estimate only. Actual remortgage costs can depend on fees, valuation, legal work, early repayment charges and lender criteria.
How to use the Remortgage Calculator
This remortgage calculator helps estimate whether switching to a new mortgage deal could reduce your monthly repayments.
Enter your outstanding mortgage balance, your current monthly repayment, the new interest rate you are considering, your remaining mortgage term and any arrangement or product fee.
What the calculator shows
The calculator estimates your new monthly repayment and compares it with your current monthly repayment. The main result shows the estimated monthly saving.
Example
If your current monthly repayment is £1,250 and a new mortgage deal would cost around £1,100 per month, the estimated saving would be £150 per month.
If you include a product fee, the calculator adds that fee to the mortgage balance before estimating the new monthly repayment.
What is remortgaging?
Remortgaging means switching your existing mortgage to a new deal. This could be with your current lender or a different lender.
People often remortgage when a fixed-rate deal is ending, when they want to reduce monthly payments, or when they want to borrow more against their property.
Important note
This calculator is designed as a simple guide. It does not include every possible remortgage cost, such as early repayment charges, broker fees, legal fees or valuation fees.
Frequently Asked Questions
What does this remortgage calculator estimate?
It estimates your new monthly repayment and compares it with your current monthly repayment to show a possible monthly saving.
Does the calculator include remortgage fees?
You can enter an arrangement or product fee. The calculator adds this fee to the mortgage balance before estimating the new repayment.
Does this calculator include early repayment charges?
No. Early repayment charges are not included. You should check your current mortgage terms before remortgaging.
Can remortgaging reduce monthly payments?
Yes, remortgaging may reduce your monthly payments if the new deal has a lower effective cost than your current mortgage. However, fees and charges should also be considered.
Is this remortgage calculator financial advice?
No. This calculator gives an estimate only. Speak to a qualified mortgage adviser or lender before making a remortgage decision.