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UKRemortgage Calculator
Switching mortgage deal? Compare your current rate with new remortgage deals — monthly saving, total saving and break-even point. Free 2027 UK calculator.
How to Use This Calculator
- Loan Amount: Enter your total borrowing amount in GBP (£).
- Interest Rate (APR): Factor in the Bank of England base rate when estimating your representative APR.
- Loan Term: Choose your repayment period to see the full monthly breakdown.
Configuration
Cost Split
Repayment Timeline
Full Amortization Schedule
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Disclaimer: This calculator provides an estimate only and is not financial advice. Always check the representative APR and consult an FCA-regulated adviser before borrowing.
Frequently Asked Questions
When is the best time to remortgage in the UK?
Most UK borrowers start looking 3 to 6 months before their current fixed deal ends. Remortgaging early can trigger an early repayment charge (ERC), often 1% to 5% of the outstanding balance, so always check your current deal's ERC schedule first. Many lenders let you lock in a new rate up to 6 months ahead of your switch date.
How much does it cost to remortgage?
Remortgage costs typically include a product or arrangement fee (£0 to £2,000), a valuation fee, and legal fees. However, many UK lenders offer fee-free remortgage deals that include a free valuation and free legal work, which can make switching much cheaper. Enter all your fees above to see your true break-even point.
Will remortgaging affect my credit score?
Getting an agreement in principle usually involves only a soft credit check, which does not affect your score. The full mortgage application triggers a hard search, which can temporarily dip your score. Avoid applying for other credit in the weeks around your remortgage application.
Can I remortgage to release equity from my home?
Yes, many homeowners remortgage to release equity for home improvements, a deposit on another property, or debt consolidation. Lenders will reassess your affordability and the property value, and most cap borrowing at 80% to 90% of the property's value. Use the calculator above to see how extra borrowing changes your monthly payment.
What does the break-even point mean on a remortgage?
The break-even point is how many months it takes for your monthly savings to cover the upfront fees of switching (product fees plus any early repayment charge). If your break-even is 8 months and you plan to stay on the new deal for 2 years or more, the switch usually pays off. Our calculator above works this out for you automatically.