Remortgage Savings Calculator

How much could you save by remortgaging to a lower interest rate? Calculate monthly and annual savings.

Outstanding mortgage balance (£)

Remaining term (years)

Current interest rate (%)

New interest rate (%)

Remortgage fees (arrangement + legal) (£)

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Fill in the details to get your result.

How This Works

Monthly saving = old payment − new payment (both calculated via standard mortgage amortisation). Payback period = total fees ÷ monthly saving. After the payback period, every month is pure saving. Remortgaging fees typically include: arrangement fee (£0–£1,999), legal fee (£300–£600), valuation (£0–£500 — often free), and possible early repayment charge on the existing deal.

Start looking 3–6 months before your fixed rate expires. You can lock in a new rate up to 6 months in advance with most lenders, then complete when your current deal ends — avoiding the SVR (Standard Variable Rate), which is typically 1.5–2.5% higher than fixed rates. If you are already on the SVR, remortgaging is almost always worthwhile — the savings typically far exceed the fees within 6–12 months.