FREE MORTGAGE TOOL
Remortgage Savings Calculator
Moving to a new deal? Enter your current balance, remaining term and rate, then the rate on the deal you’re considering. The calculator shows your illustrative new monthly payment, the difference it makes each month, and how the numbers stack up over your remaining term — including remortgaging costs if you enter them.
Illustrative only — not advice
No sign-up needed
WORKED EXAMPLE
Moving from 5.5% to 4.5%
On a £150,000 balance with 20 years left, the monthly payment would change from about £1,032 to about £949:
Illustrative only, not a quote. Remortgaging costs not included.
Try your own figuresCompare your current rate with a new deal
Enter your figures below. The calculator updates as you type.
The results are illustrative only and are not advice. They assume both rates stay the same for the whole remaining term and don’t account for product switching fees unless you enter them. Your lender’s own figures may differ. They aren’t a quote, a recommendation or advice — always get a specific quote from a lender before making decisions.
This calculator needs JavaScript to show results. The figures it produces are always illustrative only and are not advice — see the assumptions listed below the calculator.
What if rates rise?
If you stayed where you are and your current rate went up — for example on a variable or tracker rate — your payment could look like this. This is an illustration of the maths, not a prediction of future rates.
Illustrative only — not advice. These figures aren’t a quote, a recommendation or advice; always get a specific quote from a lender. See the assumptions below the calculator.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Early Repayment Charges can apply if you leave your current deal early — check your mortgage terms or ask us before making plans around your end date. Rates used in this calculator are entered by you: they are not current market rates and are not a quote.
Assumptions behind the calculator
The calculator is a ready reckoner. Results rely on these assumptions:
- Both rates stay the same for the whole remaining term. In reality, deals end after a set period and rates change.
- It compares a capital repayment mortgage with the same balance and remaining term at each rate.
- Remortgaging costs are only included when you enter them. No fees or Early Repayment Charges are assumed.
- The “What if rates rise?” figures add 1% and 2% to your current rate. They are an illustration, not a forecast.
- Results are rounded and for illustration only; they are not a quote, a recommendation, a prediction or advice. Always get a specific quote from a lender before making decisions.
Page last reviewed: November 2026. This tool is for illustration only and is not advice.
WHEN TO REVIEW
When does remortgaging make sense?
Remortgaging usually comes into the picture when your current deal is ending, your rate no longer suits you, or your plans have changed.
There’s no automatic right answer. Whether switching pays depends on the rates available to you, the costs of leaving your current deal, and your plans.
Your fixed or tracker deal is ending
Most deals move to the lender’s standard variable rate afterwards, which is often higher. Reviewing two to three months before the end date gives you time to compare — our guide to reviewing your mortgage before your deal ends explains how.
Your rate is above what newer deals offer
If your current rate is noticeably higher than rates on comparable deals, the monthly difference can be substantial over a full term.
Your home’s value has changed
A different loan-to-value band can open up different products — worth checking if your value has moved since you took the deal out.
Your circumstances have changed
Income, family or plans to move can all affect whether staying or switching suits you better.
Early Repayment Charge
If your current deal still has time to run, leaving early usually triggers an ERC — often a percentage of the outstanding balance. Waiting until the deal’s final months usually avoids this.
Product fee
New deals often carry a product or arrangement fee, typically a few hundred pounds up to around £1,500 — sometimes it can be added to the loan.
Valuation and legal fees
Many remortgage deals include a free valuation and free standard legal work; some charge for them.
Broker or adviser fee
Advisers can charge a fee for their advice. We do, and we’ll always explain how much it is and when it’s payable before you commit.
The calculator’s costs box lets you enter whatever you expect to pay, so the comparison reflects your position rather than an idealised one. If the saving after costs is small, it may still be worth switching for certainty — or it may be worth waiting until your deal is closer to its end.
On a £150,000 balance with 20 years remaining, moving from a 5.5% rate to a 4.5% rate would change the monthly payment from about £1,032 to about £949 — around £83 a month, or roughly £994 a year, before any remortgaging costs. These are round-figure illustrations of the maths, not a quote or a prediction — the calculator above works on your own numbers.
WORTH KNOWING
What happens when your fixed rate ends
When a fixed or tracker deal ends, most lenders automatically move you onto their standard variable rate (SVR). An SVR is typically higher than the deal you were on, and it can change at the lender’s discretion — so the payment you’ve budgeted for can rise without warning.
The calculator’s ‘What if rates rise?’ panel gives you an illustration of that risk: it shows what your payment would be if the rate you’re on rose by 1% or 2%.
You don’t have to switch lenders when your deal ends — most lenders also offer a product transfer, which lets you move to a new deal with them directly. Comparing both routes is part of a proper review. Our guide to product transfer or remortgage explains the difference in detail.
Not sure what’s right for you?
An adviser can look at your current deal, any Early Repayment Charges and your plans with you, then explain your options. Find out more about our remortgage advice.
REMORTGAGE CALCULATOR FAQs
Questions About Remortgaging
Thinking about moving to a new deal? The rates available to you, the costs of switching and your plans all matter. Check your current terms before acting.
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Book Your Initial ConversationHow much could I save by remortgaging?
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What happens if I do nothing when my fixed rate ends?
Is it worth remortgaging for a small rate difference?
What’s the difference between a product transfer and a remortgage?
Do I need a deposit to remortgage?
LET’S START THE CONVERSATION
Want a proper comparison rather than an illustration?
Talk to a mortgage adviser at Conrad Financial Services. We’ll review your current deal, check for Early Repayment Charges, compare product transfers and deals from other lenders, and handle the switch from start to finish. Complete the secure enquiry form and we’ll be in touch. Please don’t include account passwords or bank details.
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Whether you’re buying your first home, moving house, remortgaging, self-employed, a company director or looking to protect your family, we’re here to help you make confident decisions.