Remortgage Savings Calculator
Compare your current mortgage rate with a new deal to see your monthly saving and how long it takes to recoup the remortgaging fees.
How it's calculated
Monthly saving = Current payment − New paymentBreak-even months = Total fees ÷ Monthly saving
Frequently Asked Questions
- When should I remortgage?
- The best time to remortgage is typically when your current fixed or tracker deal is ending — usually 2–6 months before expiry to avoid rolling onto the lender's standard variable rate (SVR), which is typically much higher.
- What fees are involved in remortgaging?
- Common remortgage costs include arrangement/product fees (typically £500–£2,000), valuation fees (£150–£1,500), legal fees (£300–£1,000), and potentially an early repayment charge on your current deal.
- Can I remortgage to release equity?
- Yes — you can borrow more than your current outstanding balance when remortgaging to release equity. This increases your loan and monthly payment but provides a cash lump sum, often used for home improvements.