Remortgage Savings Calculator

Compare your current mortgage deal with a new rate. See your monthly saving, total saving over the term, and how long it takes to break even on fees.

When your fixed-rate deal ends, you will almost certainly roll onto your lender's standard variable rate — and that could mean paying hundreds more each month. Remortgaging to a new deal is straightforward, but you need to weigh the rate saving against arrangement fees, valuation costs, and any early repayment charges on your existing product.

The break-even point is critical. If a new deal saves you £150 per month but costs £1,500 in fees, you need at least 10 months before the switch pays for itself. If you plan to move house before that point, remortgaging may not be worthwhile.

UK Finance data shows that remortgage completions totalled 353,000 in 2024, a significant increase from the previous year as borrowers came off low fixed rates agreed before 2022 (UK Finance). Comparing deals carefully has never been more important.

How this calculator works

  1. Enter your current mortgage balance, rate, and remaining term.
  2. Enter the new rate you are considering along with any arrangement and valuation fees.
  3. The tool compares monthly payments, calculates the break-even month, and shows total savings over the new deal period.

Written by the CalcStack team · Last updated April 2026

Current mortgage

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New deal

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Frequently asked questions

When should I remortgage?▾
The best time is usually when your current fixed or discount deal ends and you move to your lender's Standard Variable Rate (SVR). You can start looking 3-6 months before your deal ends, as mortgage offers typically last 6 months.
What fees are involved in remortgaging?▾
Common fees include: arrangement fee (£0-£2,000), valuation fee (often free with new lender), legal fees (often free with new lender), and potentially an Early Repayment Charge on your current deal.
What is an Early Repayment Charge?▾
An ERC is a penalty for leaving your current mortgage deal early. It typically applies during fixed-rate periods and can be 1-5% of the outstanding balance. Check your mortgage terms before remortgaging.
Should I add the arrangement fee to my mortgage?▾
Adding the fee to your mortgage means you pay interest on it over the full term, making it more expensive overall. However, it preserves your cash. Calculate the true cost both ways before deciding.
Can I remortgage with bad credit?▾
Yes, but your options will be more limited and rates higher. Specialist lenders cater to those with adverse credit. A mortgage broker can help find suitable deals.
What is the break-even point?▾
The break-even point is how many months of savings it takes to recoup the cost of switching (arrangement fee + ERC). If you plan to stay shorter than the break-even period, remortgaging may not be worth it.
Can I remortgage to release equity?▾
Yes, you can remortgage for a higher amount than you owe and take the difference as cash. This is common for home improvements. However, you will pay interest on the additional borrowing.
Should I use a mortgage broker?▾
A good broker can access deals not available directly and save you time comparing. Some charge a fee (£300-£500), others are paid by the lender. Whole-of-market brokers give the widest choice.
How long does remortgaging take?▾
Remortgaging typically takes 4-8 weeks from application to completion. Start the process 3-6 months before your current deal ends to ensure a smooth transition.
What LTV do I need to remortgage?▾
You can remortgage at any LTV, but the best rates are available below 60% LTV. Each 5% improvement in LTV (e.g., from 80% to 75%) can unlock noticeably better rates.

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© 2026 CalcStack — a Flavoureak UK Ltd product. This calculator provides estimates only and is not financial advice.