Check whether a new mortgage rate could be worth the fee.
Compare your current mortgage deal with a new rate, including monthly payment change, product fee break-even, interest difference, and estimated net position over the comparison period.
Useful when a fixed rate is ending
Compare the cash-flow saving with the product fee and the estimated balance position after the deal period.
Estimated net position
£5,103
After product fees and remaining balance difference over 24 months.
Inputs
Deal comparison
Estimate
Results
Monthly payment change
£174
Positive means the new deal is cheaper each month.
Current payment
£1,470
New payment
£1,296
Fee break-even
6 months
Interest difference
£6,102
Net position compares payments made plus remaining balance after the period, then subtracts the product fee from the new deal.
Comparison
What changes over the selected period
Gross payment saving
£4,183
Product fee
£999
Net position saving
£5,103
| Scenario | Interest paid | Principal paid | Balance after period |
|---|---|---|---|
| Current deal | £24,730 | £10,561 | £209,439 |
| New deal | £18,628 | £12,480 | £207,520 |
How to use it
Read the result carefully
A cheaper rate can still be poor value if the product fee is high.
A lower monthly payment may not mean the same remaining balance after the period.
Check early repayment charges, valuation fees, legal fees, and lender rules before switching.
Important disclaimer
This calculator provides estimates only and does not constitute financial advice. Remortgage outcomes can vary depending on lender fees, early repayment charges, valuation costs, legal costs, rate changes, affordability checks, and whether fees are paid upfront or added to the mortgage.