Discover how much you could save when you remortgage

Your home could be repossessed if you don't keep up repayments on your mortgage.

Remortgage calculator

If you're considering remortgaging to a new mortgage deal, use our remortgage calculator to discover just how much you could save each year.

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Your home could be repossessed if you don't keep up repayments on your mortgage.

Talk to a mortgage broker or lender to get a more accurate remortgage savings amount.

You could save up to


per year on your mortgage

This is based on a new 2-year fixed or tracker rate mortgage with an interest rate of 6.26%.

Your savings will vary depending on your circumstances. See below for how we calculate your potential savings.

Next steps

If you're ready to remortgage, the next step is to answer a few more questions. Then a adviser will find the right remortgage deal for you.

Your home could be repossessed if you don't keep up repayments on your mortgage.

Talk to a mortgage broker or lender to get a more accurate remortgage savings amount.

Remortgage calculator FAQs

To use our remortgage calculator, you need to know your:

  • Property’s current market value: You can get a free valuation from an estate agent if you don’t have an up-to-date one

  • Outstanding mortgage amount: This will be on your latest mortgage statement, or you can contact your lender to get the latest figure

  • Current monthly repayment amount: This will be shown on your monthly bank statement

  • Mortgage term: This is the number of years remaining on your mortgage term and can be found on your mortgage statement or by speaking to your lender

Our mortgage calculator uses the average interest rates for recommended remortgages at your LTV. It is designed to give you an idea of what you could save by switching to a 2-year fixed or tracker mortgage.

The calculator doesn’t consider all of your personal information that could influence the rates available to you. To find out exactly what remortgage deals you could get, speak to a mortgage broker.

Our remortgage calculator uses rates for residential mortgages, so it won’t give you an accurate result if you have a buy-to-let mortgage. 

If you are thinking of remortgaging your buy-to-let property, you can compare the latest buy-to-let rates here. If you’re ready to start looking for a new deal, speak to one of our expert brokers to go through all your options.

No, using our remortgage calculator won’t impact your credit score.  It is designed to be a quick and easy guidance tool and doesn’t search your credit history in any way. 

When you apply for a remortgage, your new lender will perform a hard credit check, which leaves a record on your credit report that other lenders can see. Having many hard searches on your credit report within a short period can impact your credit score. 

It’s important to remember that when you use other mortgage brokers or lenders to determine how much you can borrow, they may run a hard credit check.

How long it takes to remortgage can depend on several factors. If you’re remortgaging with the same lender, the process should be relatively fast by doing what’s known as a ‘product transfer’.

These can be set up months before your mortgage deal expires, and you will automatically switch to a new product. As you are not changing lenders, a lot of the checks and process of remortgaging are not required.

If you’re remortgaging with a new lender, the process can take one to two months once you’ve applied. However, this could be longer, depending on the efficiency of your lender or any issues with your application. 

It’s a good idea to start looking for a remortgage deal about six months before you need one. Most mortgage offers are valid for between three and six months, so it pays to start the process early.

Remortgage fees

You may not have to pay a fee if you stay with your current lender.

Speak to your lender or a mortgage broker to find out which fees you'll have to pay.

You may have to pay an ERC if you remortgage before the end of your current deal's initial period.

It can cost up to 5% of your mortgage balance.

Check the terms and conditions of your mortgage or ask your lender to see how much it is.

This is what a lender charges for setting up your new mortgage. It can cost between £300 to £2,000 but is often £1,000.

A mortgage deal with a higher arrangement fee will usually have a lower interest rate. A deal with a lower arrangement fee will often have a higher interest rate. 

If you’ve got a big mortgage, it could be cheaper to have a lower interest rate and a higher arrangement fee. 

If you’ve got a small mortgage, a lower arrangement fee and higher interest rate may be cheaper long term. 

You can also choose to pay the fee when you take out the mortgage or add it to your mortgage. Adding it to your mortgage will be more expensive as they'll add interest.

This is usually around £100 to £200 and you pay it when you apply for a mortgage. You will not be able to claim it back if your mortgage does not go ahead.

This is what a lender charges to value your home. 

A valuation lets lenders check that your home meets the mortgage conditions.

A lender also needs to know how much it’s worth as they may have to sell it to get their money back if you miss repayments. 

The valuation fee can be free or may cost around £300, depending on the lender.

This is the cost of electronically transferring the mortgage funds to you or your solicitor.

It can be around £30.

When you end your mortgage contract you'll have to pay this fee. It can cost between £50 to £300.

These are the legal fees.

You do not need a solicitor if you remortgage with your current lender. But you will if you remortgage with a new one.

Your new lender may offer to pay for your legal fees, but you will not be able to choose your solicitor. 

It can sometimes be quicker to use your own solicitor.

Some brokers charge a fee for their service. 

Fees can be fixed or a percentage of your loan. The amount is often around £500 for a normal residential mortgage.

In most cases, you only have to pay it if you apply for a mortgage with one of the lenders they suggest. 

When remortgaging with, our initial consultation service is free. If you proceed with a mortgage application, you may be asked to pay a fee depending on your circumstances and credit history.

Compare some of our best deals

Have a look through some of our best mortgage deals and compare

Discover more about remortgaging

Everything you need to know in our remortgage guide

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