Remortgage calculator

The result compares the monthly cost on your current rate against a target rate over the fix period you set. The total saving is the monthly difference multiplied by the months on the new fix, then offset against any switching costs you entered.

Switching costs commonly include a lender product fee, a valuation if not free, and any solicitor fees not covered by a free-legals offer. A product transfer with your current lender often has none of these, but the rate may not be as keen as the wider market. We compare both routes routinely.

If your current deal is still in the early repayment charge window, the calculator does not include that ERC. Check your offer or recent annual statement before you act on the savings figure. Most ERCs sit between 1% and 5% of the balance and are usually material to the breakeven.

The right time to start a remortgage is six months before your fix ends. We can secure a new rate at that point and switch you onto it for the day after your current fix expires, with no period on the lender's Standard Variable Rate (SVR). SVR rates are typically 3 to 4% above market.