Remortgage calculator
Work out whether switching deals actually pays off once fees are counted. The headline rate is the easy part. The fee is where a good-looking deal quietly stops being one.
Updated for the 2026/27 tax year · reviewed
Your current and new deal
Monthly saving
£204.77
fees recovered by February 2027
New monthly payment
£1,515
Old monthly payment
£1,720
Break-even month
February 2027
2-year saving, net of fees
£3,915
Cumulative saving over time
Running total of the monthly saving minus your remortgage fees - crosses zero at the break-even point.
The new rate is one line. The next five years are the question.
See how the deal you're weighing changes your mortgage-free date, what you can afford to save alongside it, and where your household lands when this fix ends too.
Create your free accountHow this calculator works
We run your outstanding balance through the standard UK repayment formula twice, over the same remaining term - once at your current rate, once at the new rate - and compare the two monthly payments. The difference is your monthly saving.
Remortgaging usually isn't free, so we divide your fees by that monthly saving to work out how many months it takes before the switch has paid for itself - the break-even point where the chart above crosses zero. Everything after that month is a net gain; everything before it is still catching up on the upfront cost.
This assumes both rates are fixed for the whole remaining term and ignores any early repayment charge on your current deal, which can be substantial if you switch before it ends. Check your existing mortgage offer for exit fees before acting on this estimate.
Questions people ask
When is remortgaging worth it?
It's usually worth it when the new rate is low enough that the monthly saving repays any arrangement or exit fees within a sensible period, often a year or two. If your current deal still has a while to run, check for early repayment charges before switching.
How do I weigh fees against the lower rate?
Add up arrangement fees, valuation costs and any early repayment charge, then divide by the monthly saving to get a break-even point in months. A deal with a slightly higher rate but no fees can beat a cheaper rate with a large upfront cost, depending on how long you'll keep it.
What happens if I do nothing when my deal ends?
You automatically roll onto the lender's standard variable rate (SVR), which is typically several percentage points higher than fixed deals and can add hundreds of pounds a month to your payment. It's worth starting to compare remortgage options three to six months before your current deal ends.
Should I change my mortgage term when I remortgage?
Shortening the term increases your monthly payment but cuts total interest; extending it lowers monthly payments but costs more overall. Remortgaging is a natural point to revisit the term if your circumstances have changed.
Last reviewed against 2026/27 UK rules. Projections are estimates for education, not financial advice. Understanding your projections.
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