Jack Tools

Remortgage Calculator

Compare your current mortgage with a new deal and estimate your potential savings.

Enter remortgage details

£
yrs
%
%
£
yrs

This is an estimate only. Actual remortgage savings can vary depending on fees, early repayment charges, lender criteria and whether a new term is taken.

Estimated monthly saving
£0.00
Estimated total saving over deal period: £0.00
Current monthly payment
£0.00
New monthly payment
£0.00
Gross saving over deal period
£0.00
Break-even point
0 months

Remortgage breakdown

Loan balance £0.00
Current rate 0%
New rate 0%
Fees £0.00

How This Remortgage Calculator Works

This remortgage calculator helps you compare your current mortgage deal with a new interest rate so you can estimate whether switching could reduce your monthly payment.

It calculates your current monthly repayment and compares it with a new repayment based on the same remaining balance and term, but using your proposed new mortgage rate.

The calculator also includes remortgage fees and estimates how much you could save over your chosen deal period, together with how long it may take to recover those upfront costs.

It is designed as a quick way to compare mortgage deals before speaking to a lender or broker about the full costs of remortgaging.

Current loan balance The amount still left to repay on your existing mortgage.
Remaining term The number of years left on your mortgage if you keep the same repayment term.
Current and new rates Your existing mortgage rate compared with the new remortgage rate you want to test.
Fees and deal length Used to estimate net savings over the comparison period and when the remortgage breaks even.
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Example Remortgage Scenarios

£220k balance
Current rate5.25%
New rate4.35%
Deal period2 yrs
Lower monthly payment
£180k balance
Current rate5.80%
New rate4.90%
Fees£999
Break-even after fees
£300k balance
Current rate6.10%
New rate4.95%
Deal period3 yrs
Higher total saving
£150k balance
Current rate4.90%
New rate4.60%
Fees£1,499
Smaller saving margin

Remortgage Calculator FAQs

A remortgage is when you switch your current mortgage to a new deal, either with the same lender or a different one, usually to get a better interest rate or reduce monthly payments.
Remortgaging can be worth it if the lower rate reduces your monthly payment or overall borrowing cost enough to outweigh fees, legal costs and any early repayment charges on your existing mortgage.
Yes. Remortgage fees can make a big difference to the real value of a deal, especially when the monthly saving is modest or the new fixed period is short.
The break-even point is the number of months it takes for your estimated monthly savings to recover the upfront cost of remortgaging. After that point, any further saving is effectively net benefit.
No. This calculator is a guide only. Actual remortgage costs and savings can vary depending on lender fees, legal costs, valuation charges, early repayment charges and whether the mortgage term changes.
Yes. Some borrowers switch to a new deal with their existing lender, often called a product transfer, while others move to a completely new lender. The best option depends on rates, fees and eligibility.

Related tools

Mortgage Calculator Check repayments on a new mortgage scenario. Mortgage Overpayment Calculator Compare switching deals with making extra payments. House Affordability Calculator Estimate how much borrowing may fit your budget.