Remortgage Calculator UK 2026: Compare and Save
This remortgage calculator shows whether switching deal could save you money. Enter your outstanding balance, current rate, the new rate, and any fees, and it compares your monthly payment and total cost. Remortgaging often makes sense when a fixed deal ends and you move off the higher standard variable rate.
Figures verified against HMRC SDLT rates on .
Written by James HartleyCIMA
Calculator
Your current remaining mortgage balance.
Years left on your mortgage.
Your existing rate, for example your SVR or fixed deal rate.
The rate on the remortgage deal you are comparing.
One off fee on the new deal, if any.
How many years to compare payments and fees.
Early Repayment Charge (optional)
Enter your mortgage details to compare deals
See whether a lower rate could save enough to cover switching fees.
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How this remortgage calculator works
We calculate your current and new monthly payments using the standard UK repayment mortgage formula on your outstanding balance and remaining term. The monthly saving is the difference between those payments. We multiply that by your chosen comparison period (2 or 5 years), then subtract the product fee and any early repayment charge to show a net saving figure.
Assumptions: capital and interest repayment, fixed monthly payments, the same balance and term for both rates, and fees paid upfront from the saving. Interest is calculated monthly from the annual rate divided by 12.
When remortgaging is worth it
Remortgaging often makes sense when a fixed rate deal is ending and you would otherwise move onto your lender's standard variable rate, which is usually higher. It can also be worth switching mid deal if the rate saving over the comparison period clearly beats the product fee and early repayment charge, though that is less common while ERCs apply.
A positive net saving in this calculator is a starting point, not a guarantee. Check the full deal terms, any tie in period, and whether the new rate is fixed or variable before you apply.
The costs to watch
- Early repayment charge: a fee for leaving your current deal before it ends, often a percentage of the balance.
- Product or arrangement fee: a charge on the new mortgage, sometimes added to the loan.
- Valuation and legal fees: many remortgage products include free valuation and legal work, but not all. Add any extra costs to the product fee field if you want them in the comparison.
Loan to value and rates
A lower loan to value usually unlocks a better interest rate. Paying down the balance or a higher property valuation at remortgage can move you into a cheaper LTV band. Use the LTV calculator to see your current ratio and which rate tiers you may qualify for.
Frequently Asked Questions
It depends on your balance, the rate difference, and fees. Enter your figures above to see an estimate.
Often yes when a fixed deal ends, if the saving over the deal period beats the fees and any early repayment charge.
A fee some lenders charge for leaving a deal early, often a percentage of the balance, which can make switching mid deal costly.
A product or arrangement fee is common, plus valuation and legal costs, though many remortgage deals include free valuation and legal work.
A lower loan to value usually unlocks a better interest rate. Paying down the balance can move you into a cheaper band.
Usually around three to six months before your current deal ends, since offers can be held for a period.
Yes, some people remortgage to release equity, though this increases the loan and the cost.
No, it is an estimate based on the rates and fees you enter. Real deals and rates vary.
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Estimate how much you could borrow on a new deal.
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Official Rates Used
This calculator uses official HMRC rates for 2026/27. View the current rates at GOV.UK:
Rates last verified:
Disclaimer: This calculator provides estimates based on standard HMRC rates for 2026/27. Results may vary based on individual circumstances. This is not financial advice. Always consult a qualified accountant or CIMA-qualified financial adviser for personal tax matters.