What will you pay when your deal ends?
Compare your payment now with what it could be at a new rate, so you can plan ahead before your fixed or tracker deal finishes.
Illustrative only. Excludes fees.
Email me these results →How different new rates compare
You won't know your exact new rate until you're offered a deal. Here's how your payment could look across a range of rates, using your figures above.
| Interest rate | Monthly payment | Difference a month | Difference a year |
|---|
Compared with your payment now. Figures are illustrative and rounded; your lender's figures may differ slightly.
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Keep a copy of your figures, and tell us when your deal ends so we can remind you in good time.
- Your payment now, at the new rate, and the difference
- Reminders 6 months, 3 months and 1 month before your deal ends
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Options worth knowing about
A higher payment isn't the only possible outcome. Depending on your circumstances, these may be worth considering.
Look early
A mortgage offer is usually valid for 3 to 6 months, so you can often arrange a new deal before your current one ends and avoid your lender's reversion rate.
Switch with your lender
If you're up to date with payments and not borrowing more, you can usually move to a new deal with your current lender without a new affordability check.
Extend your term
A longer term can lower your monthly payment, but you'll pay more interest overall. Try it above by increasing the years left.
Talk to your lender
If you're worried about affording your payments, contact your lender as soon as possible. Lenders should treat you fairly and have options to help.
Source: Financial Conduct Authority – support for mortgages as interest rates rise
Common questions
What happens to my mortgage when my deal ends?
If you don't arrange a new deal, you'll automatically move onto your lender's reversion rate, often its standard variable rate. This is normally higher than the rate you've been paying, so your monthly payment is likely to change.
What rate should I put in as the new rate?
If you're not planning to switch, use your lender's standard variable rate, which is usually shown on your annual statement or the lender's website. If you've been quoted a new deal, use that rate. You can also compare several rates in the table above.
Why is my payment going up when I owe less?
Your payment depends on the rate as well as the balance and the years left. If the new rate is noticeably higher than your current one, the extra interest can outweigh the effect of a smaller balance.
Does the calculator include fees?
No. Arrangement, valuation and legal fees aren't included. If you add a fee to your mortgage, include it in the balance to see the effect, as you'll pay interest on it too.
What if I can't afford the new payment?
Contact your lender as soon as possible. Depending on your circumstances, lenders may be able to help, for example by extending your term. Free, impartial debt advice is also available through MoneyHelper.
Know when your fixed rate ends.
We'll email you 6 months, 3 months and 1 month before your deal ends, so you have time to look at your options.
This calculator is for illustration only and is not a mortgage offer or regulated financial advice. Your home may be repossessed if you do not keep up repayments on your mortgage.
