Mortgage rate change calculator
What happens if your rate moves from X% to Y%? See the impact on your monthly payment, and how much more (or less) you'd pay over a year.
Monthly increase
£120
Your payment would go up by this much.
Current monthly
£1,225
New monthly
£1,345
Annual increase
£1,436
Indicative figures only. Assumes a capital-and-interest repayment mortgage and doesn't include product fees or early repayment charges. If you're coming off a fixed deal, an adviser can show whether locking in a new rate now (or waiting) is likely to work out cheaper.
When this is most useful
- Coming off a fixed deal and seeing what the new rate would cost.
- Modelling how a Bank of England base rate change could affect a tracker mortgage — enter the resulting mortgage interest rate after applying your tracker margin, rather than the Bank Rate itself.
- Sense-checking what overpaying to reduce your balance would do alongside a rate change.
Important to remember
This calculator assumes your remaining term stays the same. Extending the term can soften the monthly impact of a higher rate, but increases the total interest paid. An adviser can run the numbers both ways before you decide.
Other mortgage calculators
More tools to help you plan your mortgage.
Remortgage calculator
Compare your current deal against new rates to see potential savings.
Mortgage comparison calculator
Compare two deals side by side, including product fees.
Overpayment calculator
See how much interest and time you'd save by overpaying.
Loan to Value calculator
See your LTV ratio and how it affects the rates you can access.