Remortgage Deal Comparison Calculator

Use this calculator to compare the economic cost of staying with your current mortgage arrangement against switching to a new deal.

Enter your mortgage balance, mortgage type, remaining term and current rate. You will also need the time left on your current deal, the rate it reverts to, any early repayment charge and exit fee, and the details of the new deal.

How the comparison works

The calculator models both options month by month over the new deal period.

For the staying option, it applies your current rate until the deal expires, then uses the revert rate. For the switching option, it applies the new rate, term, product, legal and valuation fees, cashback, and any charges associated with leaving your current deal.

If you choose to add fees to the new mortgage, they are included in the switched balance. This means the calculation also accounts for the interest charged on those fees.

Both repayment and interest-only mortgages are supported. The balance and payments are calculated according to the mortgage type you select.

Understanding your results

The results show the initial difference between the monthly payments for the two options. They also compare interest and fees, total economic cost, and the mortgage balance remaining under each option at the end of the selected period.

The break-even month is the earliest month from which the cumulative economic cost of switching remains no higher than staying through the selected deal period. The cumulative-cost comparison shows how the difference develops across the deal period, rather than focusing only on the first monthly payment.

A lower initial payment does not necessarily mean a lower overall cost. Fees, charges, cashback, future rates and the balance left at the end of the comparison can all affect the result.

Important information

• The calculation covers the selected new deal period. It does not include every mortgage cost you may face after that period ends.
• The staying calculation uses your current rate until its expiry, followed by the revert rate you enter.
• Charges, product, legal and valuation fees, and cashback are included in the economic-cost comparison.
• If fees are added to the new mortgage, they increase the switched balance and are included in the interest calculation.
• Rates, fees and mortgage eligibility can change. The accuracy of the result depends on the information you enter.
• This calculator provides guidance only. It is not personalised mortgage or financial advice.