What is the break-even period?

It is the approximate number of months of monthly payment savings needed to recover the switching costs you entered.

Should I add the product fee to the mortgage?

Financing a fee reduces the upfront cash needed but means the fee becomes part of the mortgage balance and can attract interest.

What else should I compare besides monthly payment?

Consider total fees, remaining term, early repayment charges, flexibility, overpayment rules and the cost over the period you expect to keep the deal.

Mortgages

Remortgage Calculator

A lower mortgage rate is not automatically a better deal once product fees, legal costs and early repayment charges are included. This calculator puts those costs beside the monthly saving.

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Your estimate

Use the result as a planning guide and change inputs to test the assumptions that matter most.

How this calculator works

The calculator estimates the current repayment payment from your balance, current rate and remaining term unless you enter your actual payment. It then calculates the proposed new payment and compares the saving with switching costs.

How to use it

Enter your current balance, rate and remaining term.
Add your actual monthly payment if you want to compare against it.
Enter the proposed new rate and term.
Add product, legal, valuation and early repayment charges.
Choose whether the product fee is added to the new mortgage.

Assumptions and limitations

Break-even is a simple switching-cost divided by monthly-saving estimate. It does not predict future rates or fully compare every mortgage feature.