How much can I save by remortgaging in the UK?

Savings depend on your mortgage balance and rate difference. For example, moving a £200,000 mortgage from a standard variable rate of 7.5% to a 4.2% fixed rate saves approximately £414 per month (£4,968 per year) before product fees.

When should I start looking for a remortgage deal?

Most UK mortgage lenders allow you to lock in a new rate up to 6 months before your current fixed deal expires. This protects you from potential rate rises without incurring early repayment charges (ERCs).

Is it worth remortgaging if there is an arrangement fee?

Yes, if the total interest saved over the fixed period exceeds the arrangement fee (typically £999). For larger mortgages (£200k+), a lower rate with a fee is usually cheaper overall than a fee-free deal with a higher interest rate.

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UK Remortgage Calculator & Savings Comparison

Calculate your potential monthly and annual savings by switching to a new mortgage deal. Compare your current lender interest rate or SVR against new fixed-rate offers, and factor in arrangement fees to find your true net saving.

Compare Your Remortgage Deal

Remaining Mortgage Balance (£) Amount left to repay on your existing mortgage.

Remaining Term (Years) Number of years left on your repayment term.

Current Interest Rate (%) Your current fixed rate or Standard Variable Rate (SVR).

New Deal Interest Rate (%) The new fixed or tracker rate offered by lenders.

Deal Fixed Term Duration of the new promotional interest rate.

New Lender Product Fee (£) Arrangement or booking fee (typically £999, or £0 for fee-free deals).

Current Monthly Payment

£1,491

New Monthly Payment

£1,230

Annual Payment Saving

£3,132 / yr

Total Fee-Adjusted Saving

£14,661

Frequently Asked Questions About Remortgaging in the UK

When should I start looking for a new remortgage deal?

Most UK mortgage lenders allow you to reserve a new mortgage rate up to 6 months before your current deal expires. This allows you to lock in a competitive rate while having peace of mind that you can switch penalty-free as soon as your existing deal concludes.

What is an SVR and why should I avoid it?

A Standard Variable Rate (SVR) is the default rate your mortgage reverts to when your promotional fixed or tracker deal ends. SVRs are typically between 7.0% and 8.5%—substantially higher than fixed deals. Rolling onto an SVR can add hundreds of pounds to your monthly payment.

Is it better to choose a fee-free deal or a deal with a product fee?

It depends on your loan balance. A £999 arrangement fee is usually worth paying on mortgages over £150,000 if the interest rate is at least 0.3% to 0.4% lower. For smaller loan balances (under £100,000), a fee-free product with a slightly higher rate often costs less overall.

Regulatory Disclaimer: UKStampDuty.co.uk is an independent information website. We do not provide financial advice or mortgage brokerage services. Mortgage rates and repayment terms vary depending on individual credit score, loan-to-value (LTV) ratio, and lender criteria. Consult an FCA-authorised mortgage broker before making financial decisions.