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Remortgage Savings Calculator 2026

Compares true net position — cumulative payments plus what you'd still owe — not just monthly payments
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Already on your lender's SVR? Enter the same rate in both fields.
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Fees paid
In practice, lenders usually only let you add the product fee — check your offer.
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Repayment type
Applies to both your current and new mortgage.
Enter your details to begin

Your net-position comparison appears here once the required fields are filled in.

How this comparison works

Every hard case in a remortgage decision — fees added to the loan, a term extension, an ERC mid-fix, a higher new rate — comes down to the same method: compare total position, not monthly payments.

Net position, not monthly payments
Most remortgage calculators compare monthly payments and stop there. We add up everything you pay over the new deal’s fixed period AND what you still owe at the end of it — for both scenarios, over the same period. That’s the only way to compare like for like.
What happens if you do nothing
Your current rate runs until your fix ends, then reverts to your lender’s SVR — and the payment is recalculated on whatever balance is left at that point. Both phases are modelled.
The real cost of switching
Early repayment charge, product fee, valuation and legal costs. Add them to the loan instead of paying upfront and you pay interest on them too — that’s priced in, not ignored.
When you break even
The month your net position catches up with doing nothing. If it never does within the fixed period, we say so rather than quoting a date beyond it.

Frequently asked questions

Most remortgage calculators compare monthly payments only. That misses two things: the interest you pay on fees added to your loan, and the balance you still owe at the end. If you extend your term, a payments-only comparison can show a large saving when you would actually pay more overall. This calculator compares your total position — everything paid, plus everything still owed — over the same period for both scenarios.

Your standard variable rate is what your mortgage reverts to when your fixed deal ends. It is usually several percentage points higher than a fixed rate. If you do nothing, that is what you will be paying — so it is the honest comparison for staying put. You will find it on your mortgage offer or your lender’s website.

Adding fees to your loan means no cash outlay now, but you pay interest on them for the rest of the term. Paying upfront costs cash today and nothing after. This calculator prices both — switch the toggle and compare. In practice, lenders usually only let you add the product fee, so check your offer.

A charge your lender applies for leaving a deal before its fixed period ends, usually a percentage of your balance that steps down each year. If a switch only looks bad because of the charge, this calculator says so — and suggests re-running once your fix ends, when the charge no longer applies.

Spreading the same balance over more years lowers the monthly payment, but you owe more at any given point and pay more interest overall. The monthly figure improves; the total gets worse. Because this calculator counts what you still owe at the end of the comparison period, a term extension shows up honestly rather than as a saving.

Yes. Switch the repayment-type toggle and both scenarios are modelled as interest-only: payments cover the interest and the balance does not fall. The toggle applies to your current and new mortgage together. Note that fees added to an interest-only loan are never repaid within the fixed period, so they accrue interest the whole time.

This comparison assumes the SVR you entered stays the same for the whole period. SVRs move with the Bank of England base rate. If rates fall, staying put gets cheaper than shown; if they rise, switching looks better. There is no honest way to model a future rate path, so we hold it flat and tell you we have.

Ready to compare deals?

These figures are illustrative. The deals you can actually access come down to your loan-to-value, income and credit profile — check your LTV Calculator first, since it is the single biggest driver of the rates you will be offered. If your fix still has a while to run, the Mortgage Overpayment Calculator shows what overpaying does to your balance and term in the meantime. For the choice behind the numbers, our Remortgaging Explained guide covers product transfer versus switching lender, what each really costs, and how the 2025 rule changes affect you.

Find an FCA-authorised broker ↗

Always check your broker is registered on the FCA Financial Services Register before proceeding.

Related Tools & Guides

Your remortgage options depend on what you owe, what you're paying, and what you could pay instead.

Mortgage Overpayment Calculator
See what overpaying does to your term and total interest.
LTV Calculator
Your loan-to-value drives the rates you will be offered.
Mortgage Repayment Calculator
Work out the monthly payment on any rate and term.
Remortgaging Explained
When a product transfer beats switching lender, and what it costs.

Sources & Methodology

Payments use the standard annuity formula; interest compounds monthly at the annual rate divided by twelve. Both scenarios are simulated month by month over the new deal's fixed period, and compared on total position — cumulative payments plus the balance still outstanding at the end. Fees added to the loan increase the balance and accrue interest. Figures are illustrative and carry no rounding until display.

Sources

Important: This calculator provides illustrative estimates only and does not constitute financial or mortgage advice. Mortgage products and lending criteria change — for personalised advice, speak to an FCA-authorised broker.

Your home may be repossessed if you do not keep up repayments on your mortgage.