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Enter your current mortgage and potential new deal to compare.
Compare your current mortgage rate against a new deal. See your monthly saving, break-even point for fees, and whether remortgaging now makes sense.
Enter your current mortgage and potential new deal to compare.
Start looking 3 to 6 months before your current deal ends to avoid being moved to your lender's Standard Variable Rate (SVR), which is typically much higher. You can also remortgage during your deal but may face early repayment charges.
Costs vary but typically include: arrangement fee (£0 to £2,000), valuation fee (£0 to £500) and legal fees (£0 to £1,500). Many lenders offer fee-free remortgage deals or cover legal fees. Always calculate whether savings exceed total fees before switching.
A 2-year fix provides flexibility but you remortgage sooner with uncertain future rates. A 5-year fix offers security. If you plan to move within 2 to 3 years, a 2-year fix avoids early repayment charges. If you want certainty on monthly payments, 5 years is usually better.
The SVR is the rate your lender moves you onto when your fixed or tracker deal ends. SVRs are typically 2 to 4% higher than the best available deals and are not competitive. Always remortgage before your deal expires to avoid the SVR.
For informational purposes only · Not financial advice · Always consult a whole-of-market mortgage broker