Remortgage Calculator
Updated on 22 Oct 2026 · Checked by Aotob
Moving from 7.24% to 4.29% would save you £10,641 over 2 years.
Your payment drops from £1,517 to £1,178 a month, after £999 of fees and charges and allowing for the balance you would owe at the end.
Saving over the 2-year deal
£10,641
Adding the £999 fee to the loan means paying interest on it. Paying it up front saves a little more.
Show the working
Now: 200,000 at 7.24% over 22 years = 1,516.54
New: 200,999 at 4.29% = 1,177.60
338.94 × 24 months − 0 upfront − -2,506 more owed at the end = 10,641
Saving at other new rates
| New rate | Monthly payment | Saving over 2 years |
|---|---|---|
| 3.79% | 1,123.51 | 12,622 |
| 4.04% | 1,150.38 | 11,632 |
| 4.29% | 1,177.60 | 10,641 |
| 4.54% | 1,205.18 | 9,648 |
| 4.79% | 1,233.09 | 8,654 |
Questions people ask
When should I remortgage?
Start looking about 6 months before your deal ends. Most lenders let you secure a rate that far ahead, and moving before you fall onto the standard variable rate (SVR) avoids paying it.
Should I add the fee to the mortgage?
Adding it keeps cash in your pocket but you pay interest on it for the rest of the term. If you can pay it up front, you save a little more.
What about a product transfer?
Staying with your lender on a new deal is often quicker and may have no fees or legal costs. Compare its rate with the market using this calculator.
Updated 22 Oct 2026Source: Standard repayment mortgage mathsChecked by AotobRepayment mortgages only. The saving allows for the balance you would owe at the end of the deal.Report an issue