Lock In Now or Wait for Lower Rates?
Calculate whether to fix your mortgage rate long-term now or take a shorter fix betting on future rate drops. Compare different scenarios and see potential savings.
Remortgage Calculator
Single rate period
Period 1
Multiple rate periods
Period 1
Period 2
Quick Tips for Comparison
- Compare total costs including all fees, not just monthly payments
- Consider how realistic future rate predictions are
- Factor in the cost and hassle of multiple remortgages
- Think about your future plans and need for certainty
Expert Insights: Making the Right Mortgage Decision
Market Analysis
Current mortgage rates are influenced by economic factors including inflation, central bank policies, and market conditions. Understanding these trends helps make informed decisions about fixed-rate periods.
Risk Assessment
Your personal circumstances, including job security, future plans, and risk tolerance, should guide your decision between longer and shorter fixed terms.
Cost Analysis
Beyond interest rates, consider arrangement fees, valuation costs, and potential early repayment charges when comparing mortgage options.
Frequently Asked Questions
Essential Mortgage Terms
APR (Annual Percentage Rate)
The total cost of borrowing expressed as a yearly rate, including fees and charges.
LTV (Loan-to-Value)
The ratio between your mortgage amount and your property's value, expressed as a percentage.
SVR (Standard Variable Rate)
The default rate you'll move to when your fixed term ends, usually higher than fixed rates.
Early Repayment Charge (ERC)
A fee charged if you repay your mortgage or overpay beyond allowed limits during the fixed term.
Arrangement Fee
An upfront fee charged by lenders for setting up your mortgage, can significantly impact overall costs.
Remortgage
Switching your mortgage to a new deal, either with your current lender or a different one.