Remortgage calculator

    Compare indicative UK remortgage products from a broad panel of lenders. The lowest rate or monthly payment is not always the most suitable option, as the right remortgage will depend on your personal circumstances, financial objectives, eligibility, fees, early repayment charges and overall cost over the full term.

    This tool provides general guidance only. It is not a mortgage application, mortgage offer, personalised illustration or regulated mortgage advice. Your actual rate, borrowing amount and monthly payment will depend on the lender's assessment of your income, outgoings, credit history, property value, loan-to-value, current mortgage, product type and wider circumstances.

    Speak to a Nexpad adviser for regulated mortgage advice

    Tip: this is a general mortgage comparison tool with a remortgage option. The Mortgage purpose selector below is set to Remortgage by default – keep it on that setting so the results reflect switching your existing mortgage, not a new purchase.

    Comparison tool provided by mortgage-quote.me.

    Your home may be repossessed if you do not keep up repayments on your mortgage.

    Think carefully before securing other debts against your home. Remortgaging before your current fixed, tracker or discounted deal ends may trigger an early repayment charge. Factor this in before switching.

    When it may make sense to remortgage

    A common reason to remortgage is that your current fixed, tracker or discounted rate is coming to an end. If you do nothing, your mortgage will usually move onto your lender's Standard Variable Rate, which may be higher than the rate available on a new deal.

    Other reasons to remortgage may include releasing equity for home improvements, consolidating higher-interest debt, changing from interest-only to repayment, changing the mortgage term, moving to a different type of rate, or adding or removing someone from the mortgage.

    Remortgaging is not always the right option. Fees, early repayment charges, affordability checks, changes in property value and your future plans can all affect whether switching makes sense.

    Costs to include in the comparison

    When comparing remortgage deals, consider the full cost, not just the headline rate. Costs may include the product fee or arrangement fee, valuation fee, legal fees, broker fee, exit fee from your current lender and any early repayment charge.

    Some lenders offer free valuation or legal work on remortgage products, but this is not guaranteed and the service may have limitations. If you are switching before your current deal ends, include any early repayment charge in your comparison.

    How to compare deals like-for-like

    Look at the total cost over the initial deal period. This means the monthly payment multiplied by the number of months in the initial period, plus any relevant fees and charges.

    A lower headline rate with a higher fee can be more expensive overall than a slightly higher rate with no fee, particularly on smaller mortgage balances. You should also check what rate the mortgage moves to after the initial period and whether any early repayment charges apply.

    Frequently asked questions

    Is it worth remortgaging?

    +

    It may be worth remortgaging if your current deal is ending, if you are already on your lender's Standard Variable Rate, or if a new deal could better support your financial objectives. Whether it makes sense during a fixed, tracker or discounted period depends on the potential saving compared with any early repayment charge, new fees and the suitability of the new mortgage.

    How much can I save by remortgaging in the UK?

    +

    Savings vary depending on your outstanding balance, current rate, new rate, fees, remaining term and whether any early repayment charge applies. The calculator gives an indicative comparison only. A personalised mortgage illustration can show the costs and features of a specific product.

    When should I start looking at remortgage deals?

    +

    Many borrowers start reviewing options several months before their current deal ends. Some lenders allow rates or offers to be secured in advance, but the timing and validity period vary by lender and product. Starting early can give you more time to compare options and reduce the risk of moving onto your lender's Standard Variable Rate.

    Will remortgaging affect my credit score?

    +

    Using this calculator will not affect your credit score. A formal remortgage application may involve a credit search, which can appear on your credit file. The type of search, and its impact, will depend on the lender and the stage of the application.

    Ready for a tailored recommendation?

    Speak to a Nexpad adviser about your circumstances, deposit and plans. We access a comprehensive panel of lenders to help find a mortgage suited to you. There is no obligation and the initial conversation is free.

    Speak to an adviser