Remortgage calculator

Work out the monthly payment on your lender's SVR from the day your deal ends, then the payment on a new deal, and compare the two over the new deal's fixed period — after its fees and the difference in what you would still owe.

Start from what you will owe when the deal ends, not what you owe today: each payment until then reduces the balance, and the term left is shorter too. Both payments are repayment-mortgage payments on that balance over that term.

A lower monthly payment is not the whole answer. If the new deal runs over a longer term, part of the lower payment is the longer term, and it adds interest over the life of the mortgage; the calculator shows that beside the monthly figure.

A worked example, using the Bank of England's September 2026 averages: an SVR of 6.58% and a 2-year fix at 5.13%. A deal ends with £200,000 owed and 20 years left. On the SVR the payment would be about £1,501 a month; on the new deal, about £1,334 — £166 lower. With a £999 fee, over the 2-year fix that is about £4,748 better off, after the fee and the difference in what is still owed.

If you do nothing, your lender usually moves you onto its standard variable rate (SVR), and your monthly payment usually rises.

The SVR is the rate a lender moves you onto when a fixed or tracker deal ends; it can change at the lender's discretion.

According to the Bank of England, the average revert-to rate on UK mortgages was 6.58% in September 2026, against 5.13% for an average 2-year fix at 75% loan-to-value.

Many variable products carry no early repayment charge, so you can usually move off the SVR as soon as a new deal is ready. While the SVR sits above the rates on offer, each month on it costs more, which is why the date matters.

Sometimes: it is worth paying when the new rate would save more, over the months left on your current deal, than the charge costs. The leave-now-or-wait tool above works that out for your figures.

An early repayment charge (ERC) is a fee some deals charge if you repay or leave before the deal ends. It is usually a percentage of the balance, and on many deals it steps down as the deal runs, so leaving later can cost less. Your mortgage offer and annual statement show yours.

Compare the two choices over the same period: from the month you would switch to the month your deal ends. Waiting costs nothing in charges but keeps your current rate until the end; leaving early pays the charge to get the new rate sooner.

Leaving early only pays when your current rate is higher than the new one, and by enough to cover the charge. If your current rate is lower, waiting is usually cheaper.

Many lenders let you secure a new rate up to six months before your deal ends, which is often a way to fix your next rate early without paying the charge at all.

Overpaying can count as repaying early: many deals let you overpay up to a limit each year without a charge, and beyond it the ERC can apply. The overpayment calculator shows what overpaying would do.

The overpayment calculator

Indicative, checked October 2026. Not the terms of any one lender, and not a recommendation.

A product transfer is a new deal with your existing lender; a remortgage moves you to a different lender. The first is usually quicker, the second shows you the wider market.

A product transfer can be the simpler route: usually no new affordability check if you're not borrowing more, and usually no valuation or legal work.

Advice matters especially when your circumstances have changed since you last borrowed, when you want to borrow more, or when only part of the market will lend to you.

Remortgage and product-transfer advice

Loan-to-value (LTV) is your mortgage as a percentage of your home's value, and lenders price in bands: a lower band can mean lower rates.

Common lines are 60%, 75%, 85% and 90% loan-to-value. When your balance falls or your home's value rises, you can cross into a lower band — which is one reason to check where you sit before your deal ends.

You can move down a band by overpaying, or if the property is valued higher. The calculator shows how far you are from the next line down.

Illustrative only, not an offer or a recommendation — lenders value the property themselves and assess each case individually. Band thresholds vary by lender; the lines here are common ones, not any one lender's.

Start three to six months before your fixed rate ends.

Many lenders let you secure a new rate up to six months before your current deal ends, so starting early costs nothing and gives you time to compare your lender's product transfer offer with the wider market.

A remortgage to a new lender takes weeks rather than days, so leaving it to the last month can mean some time on the SVR.

Why remortgaging early still matters: the seven-week window

Indicative guidance based on typical lender windows, checked September 2026. Not advice, and not the terms of any one lender.