Enter your balance, both rates and the costs of switching to compare the monthly payments and see how long the saving takes to cover the costs.
Both payments are on a repayment basis over the years left, with interest charged monthly at the yearly rate divided by 12. A lender's own figures can differ slightly.
The cost of switching is the product fee, any early repayment charge and the legal and valuation costs, paid up front. Divided by the monthly saving, it gives the months the saving takes to cover it. With a deal length you also get the interest over the deal at each rate and the balance left at the end.
Both rates start at 0% until you enter them.
Which lenders would offer you a mortgage and at what rate, whether to fix and for how long, and what your rate becomes after the deal ends all need a mortgage adviser. Interest-only mortgages and fees added to the loan are not modelled here.
This is information. It is not a personal recommendation. Whether any of it is right for you depends on your circumstances. Your home may be repossessed if you do not keep up repayments on your mortgage.
The rate you would pay depends on the lender, the deal, the size of the loan against the property's value and your circumstances. Enter the rate from your lender's letter and the rate you have been offered.
Then you pay interest on the fee for the rest of the term, and the monthly payment rises a little. These figures treat every cost as paid up front.
A charge some lenders make for paying off a mortgage, or moving it to another lender, during a deal. Your mortgage offer sets out whether one applies and how it is worked out.
Look at your options before your fixed or discounted deal ends, and count any early repayment charge in the comparison.
Read the answer →Buying a first home, remortgaging when a deal ends and buying a property to let each come with their own lending tests and their own property tax.
Read the answer →Enter your balance, rate and overpayment to see the interest saved, the new term and the month the mortgage would end.
Work it out →Debts to clear, plus the income that would have to be replaced, less what is already in place.
Work it out →Eight questions on retirement, protection, savings, your mortgage, your estate and your day-to-day money give a first score. The other 17 complete the written report.
Start →Your first call is with an Account Manager and is at no cost to you. Tell us what is on your mind: a pension you have lost track of, a fixed rate ending, a will you keep meaning to write.