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Current Mortgage
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SVR is typically 7.5–8.5%
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Enter as £ amount OR % of balance (typical: 1–5%)
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New Deal
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Include product fee + solicitor fees
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Remortgage Summary
Monthly Saving
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Current Monthly Payment
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New Monthly Payment
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ERC Cost
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Break-Even Period
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Net Saving Over Deal Period
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Monthly Payments Comparison
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FAQs
When should I remortgage?+
The best time to start remortgaging is 3–6 months before your current deal ends. If you are on your lender's Standard Variable Rate (SVR), you should remortgage immediately — SVRs are typically 7.5–8.5% in 2026, far above fixed deal rates of 4.25–5.00%. Always compare total cost including any arrangement fees.
What is an Early Repayment Charge (ERC)?+
An ERC is a penalty for paying off your mortgage (or switching deals) before your fixed or tracker period ends. It is usually 1–5% of your outstanding balance, decreasing each year of the deal. Use our calculator to see if the savings from switching outweigh the ERC.
How much can I save by remortgaging?+
Savings depend on your balance, the rate difference and how long you have left. For example, a £200,000 mortgage switching from 6.50% SVR to a 4.50% 5-year fix saves approximately £333/month and over £20,000 over 5 years.
What are the costs of remortgaging?+
Typical remortgage costs include: arrangement/product fee (£0–£1,500), legal fees (£300–£500 — many lenders offer free legal work), valuation fee (often free on remortgage). Always add these costs to your calculation to find the true saving.
⚠️ Estimates only. Actual savings depend on your lender's criteria and fees. Not financial advice.
