Remortgage Calculator

Compare your mortgage with a new deal, including fees and any early repayment charge, and see what remortgaging would save.

Mortgage left to pay

Years left

Your rate now

New rate

Fees and early repayment charge

Arrangement, valuation and legal fees

Fixed for

Years

More options· New loan length and cashback

New loan length

Years to pay it off

Cashback

From the new lender

Switching saves you

£8,217

Over 5 years, after £1,500 of costs

New monthly payment: £1,206 (now £1,319)
Costs earned back: After 10 months

What this means

The interest you save covers the £1,500 of costs after 10 months. That’s within the 5 years you’d keep the new deal.

Next step

Stay or switch, over 5 years

	Stay	Switch
Monthly payment	£1,319	£1,206
Interest	£52,504	£42,787
Costs, less cashback	£0	£1,500
Interest and costs	£52,504	£44,287
Still owed after 5 years	£173,347	£170,438

Before you switch

Your current lender’s product transfer usually has no legal or valuation costs. Compare it with other lenders’ deals.
You can usually book a new deal up to 6 months before your fixed rate ends, so you don’t slip onto the standard variable rate.

Assumptions in this estimate

Both rates stay the same for the whole period. The saving counts interest and costs only: paying the loan off faster isn’t a cost, as that money becomes your home equity.
Interest is worked out monthly.

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How the calculator works

Your mortgage now: what you owe, the years left and your rate.
The new deal: its rate, the fees (and any early repayment charge), and how long it’s fixed for.
Result: what you’d save in interest after fees over the deal, your new payment, and when the fees are earned back.

Example

£200,000 left over 22 years, moving from 5.6% to 4.6% with £1,500 of fees:

	Stay	Remortgage
Monthly payment	£1,319	£1,206
Interest over 5 years	£52,504	£42,787
Fees	£0	£1,500
Saving after fees		£8,217

The fees are earned back after 10 months.

Before you switch

Compare the total cost: a deal with a low rate and a big fee can cost more than a slightly higher rate with no fee, especially on a small mortgage.
Adding the fee to the mortgage means paying interest on it for years.
Use a fee-free broker if you’re unsure: they can compare most of the market.

Last updated October 20, 2026

Frequently asked questions

When is remortgaging worth it?

When the interest you save over the new deal covers the fees. On £200,000 at 5.6%, moving to 4.6% with £1,500 of fees saves about £8,200 over a 5-year fix.

Should I remortgage or take a product transfer?

A product transfer is a new deal with your current lender: usually quicker, with no legal or valuation costs. Remortgaging to another lender can get a better rate. Compare both, including fees.

What is an early repayment charge?

A fee for leaving a fixed or tracker deal early, often 1% to 5% of what you owe, falling each year. It usually doesn’t apply once the deal ends, so most people switch then.

What happens if I do nothing when my deal ends?

You move to your lender’s standard variable rate (SVR), which is usually much higher. You can usually book a new deal up to 6 months before your current one ends.