Remortgage savings calculator
Find out how much you could save by switching to a more competitive mortgage deal with favourable rates or better terms.
Your details
Outstanding mortgage Enter the remaining balance of your mortgage. This helps calculate how much you'll need to remortgage.
Mortgage term (years) How many years you plan to repay your mortgage over.
Current interest rate The interest rate on your current mortgage.
New interest rate Enter the new mortgage interest rate you're considering.
Repayment type
Interest only: Pay interest monthly.
Repayment: Pay interest and principal monthly.
Your results
Please complete all fields to see your mortgage savings.
Yearly saving Total saved on mortgage payments over a year.
£0Monthly saving How much less you'll pay monthly with the new rate.
£0Your monthly payments will change from: Old vs. new monthly mortgage payment.
£0 to £0Your next steps
Your estimated saving is a useful starting point. Compare current mortgage rates, check your loan-to-value and explore what a new mortgage could cost.
See what remortgage rates are available
Compare current remortgage rates and explore the options that could be available when you remortgage.
Compare remortgage rates →
Check your loan-to-value
See how much of your property’s value you still need to borrow and understand your current LTV.
Calculate your LTV →
Explore your mortgage repayments
See how different mortgage amounts, rates and terms could affect your estimated monthly repayments.
Calculate repayments →
Want help with your remortgage options?
Not sure whether switching could be worthwhile? Our advisers can compare remortgage options across 100+ lenders and help you understand the rates, costs and criteria that could apply to you.
Your questions answered
What does a remortgage savings calculator show?
A remortgage savings calculator gives you an indication of how your mortgage costs could change if you moved from your current interest rate to a different rate.
The estimate is based on the mortgage balance, remaining term, interest rates and repayment type you enter. It is a guide only and does not take every cost of remortgaging into account.
How does the calculator estimate my remortgage savings?
The calculator compares your existing mortgage using your current interest rate with a mortgage using the new interest rate you enter.
It assumes the outstanding balance, remaining mortgage term, and repayment type stay the same so you can compare the potential difference between the two rates.
Does a lower mortgage rate always mean I will save money?
No. A lower rate could reduce your mortgage costs, but the interest rate is only part of the overall cost of remortgaging.
Arrangement fees, valuation or legal costs, early repayment charges and other fees could reduce or even remove the saving. Some remortgage deals may also include incentives that affect the overall cost.
What costs should I consider when remortgaging?
You may need to consider product fees, early repayment charges, valuation costs and legal or conveyancing costs, depending on your existing mortgage and the new deal.
Some lenders may contribute towards certain costs or offer incentives. Comparing the overall cost of a mortgage, rather than the interest rate alone, can give you a clearer picture of whether switching may be worthwhile.
Does my loan-to-value affect my remortgage options?
Yes. Your loan-to-value (LTV) compares the amount you still owe on your mortgage with the value of your property.
A lower LTV can give you access to a different range of mortgage products and rates, although availability will also depend on the lender’s criteria and your circumstances.
When should I start looking at remortgage options?
You do not necessarily need to wait until your existing mortgage deal ends before exploring your options.
Starting your research in advance can give you time to compare rates, understand any early repayment charges and consider the costs of switching. The right timing will depend on your existing mortgage and the terms of any new deal.
Important information
These results are estimates for general information only and do not constitute personal mortgage advice. They assume the mortgage balance, remaining term and repayment type remain the same and that the interest rates entered remain unchanged for the period being compared.
Fees, early repayment charges and incentives are not included and may reduce or remove any potential saving.
If you select an interest-only mortgage, the monthly payments cover interest only, and the full mortgage balance will remain payable at the end of the term.
Your home may be repossessed if you do not keep up repayments on your mortgage.