Use this free UK remortgage calculator to estimate your new monthly mortgage payment and compare it with your current payment. Enter your outstanding mortgage balance, current interest rate, proposed new rate, remaining term, and estimated fees to explore how remortgaging could affect your budget.
Estimate Your New Monthly Mortgage Payment
Your monthly mortgage payment depends on your outstanding balance, interest rate, and repayment term.
This calculator compares payments at your current and proposed rates using a standard repayment mortgage calculation, helping you understand how a different rate could change your monthly costs.
The estimate assumes the same outstanding balance and remaining term for both options. Your actual remortgage offer may differ because of lender criteria, product fees, valuation costs, legal costs, and the terms of your new mortgage.
Compare Your Current Mortgage With a New Deal
A remortgage may help you secure a lower interest rate, change your mortgage product, or adjust your repayment arrangements. Compare the rate available to you with your current deal, and check whether any introductory fixed-rate period is ending.
A lower rate can reduce monthly repayments, but the overall benefit depends on the fees involved and how long you keep the new mortgage. If fees are added to the loan rather than paid upfront, they may also increase the amount on which you pay interest.
Understand the Total Cost of Remortgaging
Monthly savings tell only part of the story. Your total cost depends on the remaining payments on your existing mortgage, the payments under the new deal, remortgage fees, and any early repayment charge from leaving your current deal.
This calculator estimates the difference between total scheduled payments over the selected term and adds the fees you enter.
Treat that figure as an initial comparison rather than a complete measure of financial savings, because the calculation does not include every possible charge or the effect of changing your mortgage arrangements.
When Is the Right Time to Remortgage?
Many homeowners review their options when their current fixed-rate deal is approaching its end. Starting early can give you time to compare available products, understand fees, and check whether your circumstances meet a lender’s requirements.
Before switching, review any early repayment charges, the new deal’s introductory period, and the rate that may apply afterward. If your current deal is ending soon, compare the cost of switching with the available options from your existing lender.
Compare Remortgaging With Other Mortgage Options
Consider your wider mortgage costs before deciding which option suits you. Our refinance calculator can help you explore payment changes, while the refinance break-even calculator estimates how long monthly savings may take to recover switching costs.
You can also use the mortgage payment calculator to explore different payment scenarios and the mortgage interest calculator to understand how interest affects borrowing costs.
Disclaimer: This calculator provides estimates for informational and educational purposes only, not financial, tax, legal, or professional advice. Results are based on the information entered and may differ from actual costs, payments, rates, fees, or eligibility. Verify details with the relevant lender, financial professional, or official source before making financial decisions.
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Disclaimer
MortgageRatesChecker provides educational mortgage calculators, loan tools, and financial guides designed to help you better understand home financing. Our content is researched, fact-checked, and regularly updated in accordance with our Editorial Policy, using trusted information from our Data Sources and transparent methodologies explained in How We Calculate. Learn more about our commitment to accuracy on Why Trust Us. This content is provided for informational purposes only and should not be considered financial, legal, tax, investment, or mortgage advice. Mortgage rates, lending requirements, loan programs, and regulations may change without notice. Before making any borrowing, refinancing, or home-buying decision, consult your Bank or Mortgage Lender, licensed financial advisor, tax professional, or attorney based on your individual circumstances. MortgageRatesChecker is an independent educational resource and is not a lender, mortgage broker, financial advisor, or government agency. Please review our Affiliate Disclosure, Advertiser Disclosure, Disclaimer, and Terms & Conditions for additional information.
