Remortgage Calculator

The Remortgage calculator helps you decide whether to switch your UK mortgage by comparing your current deal against a new rate, accounting for Early Repayment Charges, arrangement fees, valuation and legal costs. With 2025/26 best-buy 2-year fixes around 4.5-5.5% and 5-year fixes around 4.7%, the gap between a competitive new deal and a lender's standard variable rate (SVR) of 7-9% can be huge — often £200-£500/month on a typical £200,000 balance. Timing matters. Most borrowers start shopping 3-6 months before the current fixed deal ends because mortgage offers are valid for 3-6 months and product transfers can be locked in early. Remortgaging mid-fix usually triggers an ERC of 1-5% of the outstanding balance, so only makes sense if savings within the new deal period exceed the ERC plus arrangement fees. A break-even of under 24 months on a 5-year fix is usually a green light. This tool is for homeowners coming off a fix, borrowers who have built equity and want to drop into a lower LTV band, anyone considering a product transfer (rate switch with the same lender), and those exploring further advances or equity release for home improvements or debt consolidation. Switching from 80% to 75% LTV can shave 0.2-0.4 percentage points off the rate. What the calculator does NOT model: hard credit search impact, adverse credit re-pricing, additional borrowing affordability checks, broker fees beyond declared product fees, the interaction with offset facilities, or future rate path uncertainty. It assumes you qualify for the new rate at your stated LTV. A broker should confirm the actual lender match. Regional notes: remortgaging rules are UK-wide via the FCA. However, conveyancing and Land Registry/Registers of Scotland processes differ — typical legal turnaround is 4-8 weeks in England and Wales, often longer in Scotland. Pair this tool with the Mortgage Affordability calculator (for any extra borrowing) and the Mortgage Overpayment calculator to compare cutting your balance vs switching rates.