advice@nextmortgagesteps.co.uk

advice@nextmortgagesteps.co.uk

Remortgage Calculator

If your current mortgage deal is ending, or you're simply looking for a better rate, remortgaging could help reduce your monthly payments, unlock equity in your home, or give you more flexibility. Use our quick and easy calculator to estimate how much switching to a new deal might save you.

Why Remortgage?

    Lower monthly repayments - Switching to a better interest rate can significantly reduce what you pay each month.

    Avoid higher rates - When your fixed or tracker deal ends, most lenders move you to their standard variable rate (SVR), which is often more expensive.

    Borrow more money - Release equity from your home for things like home improvements, debt consolidation, or big life events.

    Fix your payments - Lock in a new fixed-rate deal to protect against future interest rate rises.

    Change your mortgage terms - You might want to shorten your term to pay your mortgage off faster or extend it to lower your payments.

How to use the Remortgage Calculator

    Enter your current mortgage balance – How much is left to repay on your mortgage.
    Input your current interest rate – You’ll usually find this on your mortgage statement.
    Enter the number of years left on your mortgage – You can check this via your lender or mortgage documents.
    Enter a new interest rate to compare – Use a rate you’ve seen online or what’s being offered.

The figures shown by this calculator are for illustrative purposes only. They are based on the information you provide and do not constitute mortgage advice or a formal quotation.
Your actual savings will depend on the lender, product fees, credit checks, property value, and other personal circumstances. We always recommend speaking to a qualified mortgage broker before making any financial decisions.
NextMortgageSteps.co.uk is a free-to-use informational website designed to help you understand your remortgage options. Our calculators and tools are there to guide you, but they are not a substitute for regulated advice.

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