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Mortgage interest calculator

Use our mortgage interest calculator to work out how much your monthly mortgage repayments could change if interest rates rise.

Use our mortgage interest calculator to find out how much extra you'd pay if your mortgage rate increased by between 0.25% and 3%. Just enter your current interest rate, mortgage term and outstanding loan and we’ll do the rest.

If you'd prefer to remortgage to a fixed-rate deal or just want advice on your options, call Which? Mortgage Advisers for a free consultation on 0800 197 8461.

How to beat mortgage interest rate rises

If you're on a variable-rate deal such as a discount or tracker mortgage, changes to the Bank of England base rate or your bank's standard variable rate will have an immediate impact on how much you're paying each month.

If this happens, it's worth investigating whether you could save money by remortgaging.

A rate rise can also hit you hard when you reach the end of an initial deal period - for example, if you've reached the end of your fixed-rate mortgage's introductory period, which might be two or five years.

When this period runs out, you’ll usually revert to your lender’s standard variable rate (SVR), which is likely to be a lot higher.

In most cases, you’ll be able to get a better deal if you remortgage your home at this point, as you’ll have built up more equity in your property (unless you had an interest-only mortgage) and introductory rates on new deals will almost always be cheaper than your current lender’s SVR.

More mortgage calculators

  • Mortgage repayment calculator: shopping around for deals? See how much you would pay each month based on the mortgage's interest rate and fees combined with the amount you're borrowing and the mortgage term.
  • Mortgage overpayment calculator: find out how much more quickly you could pay off your mortgage if you made overpayments - as well as how much money you could save.

See our full list of mortgage calculators for more help crunching the numbers. 

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