Remortgage Savings Calculator (UK)
Savings from remortgaging off your lender's SVR or onto a better fix — fees, break-even and product-transfer comparison.
Formula
Disclaimer: Compares equal remaining tenures; lender-specific charges and rate resets can change outcomes. Not financial advice.
Need remortgage savings calculator results fast? Skip the spreadsheet and get a clear, defensible answer in one step — free, private and instant, recalculating live as you change any input.
About Remortgage Savings Calculator (UK)
Rolling onto the Standard Variable Rate is the UK's quietest financial leak: SVRs run 2–4% above competitive fixes, and the defaults — £195,000 at a 7.5% SVR moving to a 4.6% fix with 19 years left — recover the ~£1,500 of fees within months. The verdict badge above does the break-even arithmetic that lender inertia hopes you'll skip. Two routes, different friction: a PRODUCT TRANSFER (new deal, same lender) takes days, needs no re-underwriting or conveyancing, and now covers most UK deal-switching — but you only see that lender's range. A FULL REMORTGAGE opens the whole market (cashback and free-legals offers often neutralize costs) and lets you re-band your LTV after price growth: dropping below 75% or 60% unlocks visibly cheaper shelves. Start 6 months before your current deal ends; offers last that long and you can re-book if rates fall. Compare deals on TRUE cost over the deal period — (monthly payment × months) + arrangement fee − cashback — not headline rate: a 4.4% deal with a £1,499 fee loses to 4.6% fee-free on smaller balances. Fee-financing into the loan compounds for decades; pay fees cash where possible. And if your circumstances have complicated (self-employment, age), the product transfer's no-affordability-check path may quietly be the only — and still excellent — option.
How to use Remortgage Savings Calculator (UK)
- 1Enter Outstanding balance, Current rate (e.g. lender SVR) (%), New deal rate (%), Remaining tenure (years), Fees (arrangement, legal, valuation) into the Remortgage Savings Calculator.
- 2The result is computed automatically using Saving = (EMI_old − EMI_new) × remaining months − switching costs ; Break-even = costs ÷ monthly saving — there is no button to press; it updates live as you type.
- 3Change any input to model a different scenario, then use “Copy result link” to share the exact numbers.
Why use Remortgage Savings Calculator (UK)?
- ✓Computes remortgage savings calculator instantly with the correct formula — no spreadsheet needed
- ✓100% free and unlimited, with no sign-up, login or paywall
- ✓Runs entirely in your browser, so the figures you enter are never uploaded or stored
- ✓Shows the formula, a live worked example and references so you can defend the number
Frequently asked questions
When should I start my remortgage?+
Six months before your fix ends: offers are valid ~6 months, so you can lock today's rate as insurance and still switch to anything cheaper that appears before completion. Leaving it to the final month risks weeks on the SVR — at the default spread, ~£370 per month of pure leak.
Product transfer ya full remortgage — kaunsa chunein?+
Pehle current lender ka product-transfer rate dekhein (do din ka kaam, koi legal/valuation nahi), phir market best se compare karein. Farak 0.15–0.2% se kam ho to transfer ki simplicity jeetti hai; zyada ho ya aapka LTV band sudhra ho to full remortgage. Dono ka true cost is calculator me daal kar dekh lein.
Can I remortgage if my house value has risen?+
That's precisely when it pays most: a higher valuation may drop you into a better LTV band (below 85/75/60%), compounding the rate improvement beyond the SVR escape. Lenders use desktop valuations on remortgages — if theirs lowballs you, evidence from local sold prices can support a challenge.
What if I'm on a fix with early repayment charges?+
ERCs (1–5%, typically stepping down yearly) usually make mid-fix switching uneconomic — but not always: with a big rate gap and a long remaining fix, paying a 1–2% ERC can still net savings. Add the ERC into the fees field above and let the break-even verdict decide with arithmetic, not assumption.
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