Is it worth remortgaging?
Compare your current deal to a new rate and see what you'd really save — monthly, and in total over the new fixed period — once the product fee and any early repayment charge are taken off. You'll also see the month you break even. Free, no sign-up.
A guide, not financial advice. Both payments are worked out over the years you have left, so it's a like-for-like comparison; the saving is then shown over the new deal's fixed period. It doesn't account for adding the fee to the loan (which spreads it but adds interest) or for what happens after the new fix ends. A mortgage broker can check whether a deal's headline rate is really the cheapest once fees are in. Nothing you type here leaves your browser.
The headline rate isn't the whole cost.
Fees can wipe out the saving. A lower rate with a big product fee can cost more overall than a slightly higher rate with no fee — especially on a smaller balance, where the monthly saving is modest. That's why this compares the net saving after the fee, and shows the month you break even.
Mind the early repayment charge. If you're still inside a fixed term, leaving early usually triggers an ERC — often a percentage of the balance that steps down each year. Sometimes it's still worth switching; often it's better to line up a new deal for when your current one ends. Most lenders let you secure an offer up to six months ahead.
Reverting to the SVR is the trap. When a fix ends you roll onto the lender's standard variable rate, which is typically much higher. Doing nothing is rarely the cheapest option — this tool shows what switching away from it would save.
Then there's the term. Stretching the term lowers the monthly payment but adds interest over time; shortening it does the opposite. Keep the years-remaining the same in both columns to compare the rate alone.
Never miss a remortgage window again.
Stead keeps your whole home in one place — and reminds you before your fixed rate ends, so you can line up a new deal in good time instead of sliding onto the SVR. Plus the bills, the certificates, the renewals and the jobs that need doing.