Remortgage calculator

What a new rate costs against what doing nothing costs

The saving from remortgaging is almost never the difference between two headline rates. It is the gap between the deal your loan to value reaches and the reversion rate you land on when the fix ends, which is currently a long way above it. This shows both, plus what the product fee costs if you add it to the loan and pay interest on it for the rest of the term.

For: A better rate, releasing money, or getting off a bridge

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Where you stand

What the property is worth£320,000

A lender's valuation, not a portal estimate. On a remortgage most lenders use an automated valuation, which is conservative.

What you still owe£180,000

Extra you want to releaseNone, like for like

Releasing money pushes you up the loan to value bands, and the rate on the whole balance moves with it. That is why capital raising sometimes costs far more than the amount raised suggests.

Years left to run20 years

Stretching the term lowers the payment and raises the total interest. It is a cash flow decision, not a saving.

How it is repaid

Part of every payment comes off the balance, which drops you through the loan to value bands over time.

The deal

Deal length

Slightly more, and no arrangement cost or rate risk for five years. On buy to let it also lends more, because a five year fix may be stressed at the pay rate.

Rate, if you have been quoted oneUse the best buy for my band

Leave it on the best buy to see what is reachable, or put your own offer in to see whether it is a good one.

Product fee£999

Fees cluster at £999 and £1,499. Going fee free costs about 0.1 to 0.2 points on a five year fix and 0.3 to 0.4 on a two year, so on a small balance fee free almost always wins.

The fee

Nothing to find on the day, and you pay interest on it for the whole remaining term.

Legal and valuation costsFree legals and valuation

Most remortgage products include both. A capital raise, a transfer of equity or a leasehold flat can put them back on you.

Early repayment charge on the deal you are leavingNone, or out of the tie-in

One to five per cent of the balance, falling each year of the fix. Most people should wait until the last three months of the deal, when they can start the application without paying it.

Saving against doing nothing, over the five years£9,543 to £15,459£159 to £258 a month, net of £0 of switching costs. Best case 4.65%, the sharpest five year fix at 56.3% loan to value; worst case 5.63%, the market average, which is where you land without a broker or with a mark against your file.

£1,160New monthly payment

£1,417On the standard variable rate

56.3%Your loan to value

0 moPays for itself in

Against doing nothing

Monthly, if you do nothing£1,417

The average standard variable rate is 7.13%. That is where a fix reverts to, automatically, on the first of the month after it ends.

Difference, every month£159 to £258

Over the five years, net of costs£9,543 to £15,459

Your band, and the one below it

Loan to value56.3%

Puts you in the 60% or below band, where the sharpest five year fix is 4.65%.

What adding the fee to the loan costs£929

Interest on the £999 fee across 20 years. Paying it up front instead is worth that much, if you have it.

For context

Bank Rate3.75%

The Monetary Policy Committee has been holding. Fixed rates price off expectations rather than off today's Bank Rate, so do not assume a fall.

Best buy against market average4.65% vs 5.63%

The best buy is what a clean case with a broker reaches. The market average is where most borrowers actually land, and the gap between them is worth more than most people's negotiation on the fee.

Where these figures come from

Rates. Best buy remortgage rates as at early September 2026, by loan to value: 4.50% and 4.65% at 60% or below, rising to 5.25% and 5.19% between 90% and 95% on two and five year fixes respectively. The average standard variable rate is 7.13%. The whole-market average is 5.59% on a two year fix and 5.63% on a five.

Bank Rate is 3.75%, and the Monetary Policy Committee has been holding.

Fees. Product fees cluster at £999 and £1,499. Fee-free deals sit about 0.10 to 0.20 points higher on a five year fix and 0.30 to 0.40 higher on a two year.

Best buy rates as at early September 2026 and they move weekly, so treat the exact figures as indicative and the shape of the answer as reliable. Adding a product fee to the loan means paying interest on it for the whole remaining term. A product transfer with your existing lender needs no valuation and no legal work, and is often the right answer on a high loan to value or a difficult case even when the rate is slightly worse. Most borrowers can start an application in the last three to six months of a deal and complete on the day it ends, which avoids the early repayment charge entirely. An estimate, not advice: the mortgage comes from a regulated broker or lender.

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What a new rate costs against what doing nothing costs

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