Mortgage Switching Calculator

Refinancing is usually worth it when the interest saved over the next few years clearly exceeds the cost of switching. Those costs include discharge fees, government registration fees and any break costs on a fixed loan. This calculator shows the break-even point for your figures. If you have not reviewed your loan in two years or more, it is worth checking.

Yes, and it is worth doing first. Lenders often offer existing customers a lower rate when asked, particularly if you can show a competing offer. If your lender will not move, or the offer still falls short, refinancing becomes the stronger option. We can give you comparison figures from other lenders to take into that conversation, or handle the switch if needed.