Habito

Remortgage calculator

Want to know what you could save by remortgaging? Let’s crunch some numbers together! Purchasing? We have a calculator for that too

Frequently asked questions

This remortgage calculator will search 20,000 mortgages, from every lender, to find you today’s top deals for the numbers you put in.

The thing it won’t calculate for you is if you’re actually eligible for the remortgage deals you see. That’s because lenders will ask you lots more questions before they agree to go ahead with your remortgage.

So after you get an idea of what you can save – either with a calculator or comparison tool – talk to a Habtio expert to apply for the best deal, and feel confident you’ll get it.

When it’s time to remortgage, some people take the opportunity to borrow more money at the same time.

It’s called ‘releasing equity’. You effectively give part of the mortgage you’ve already paid off back to the bank, in exchange for more money. You can then spend that money on things like home improvements, or giving your kids some cash to buy a home.

If you’d like to know more, we’ve written a plain English guide to remortgaging to release equity.

Your ‘affordability’ is a measure of how much you can afford to borrow on a mortgage, and pay each month, while still having enough money left over to pay your usual expenses and live comfortably.

Before they agree to lend to you, your lender will look at your income and spending to make sure it’s a responsible thing to do.

It’s a good idea to get your finances into shape before you apply for a remortgage.

And if you’re ready to go, you can sign up to chat to a Habito mortgage expert, and get a true picture of your affordability.

Almost always, the answer is yes, it’s a good idea to remortgage.

We know to switch when other introductory deals end, like our phone contract or energy bill. But with mortgages, too many people slip onto their lender’s default rate after their mortgage introductory period is over. If that happens to you, you could end up paying thousands of pounds more than you need to.

Sometimes, of course, it won’t be the right thing to do – for example, if you’re still in your introductory period, or if you have very little left to pay on your mortgage. Here’s more about when remortgaging might not make sense.

It’s always worth at least checking if you could save money, and our remortgage calculator is a great first step. Next, your mortgage expert will do all the maths for you, and tell you for sure.

Most remortgage calculators, including this one, give you a good starting estimate of what you could save.

You’ll notice this calculator doesn’t ask for many details about you. When you actually apply for a remortgage, you’ll have to send your lender much more detail about your income, spending and credit history. Without that detail, every estimate about what you could save is exactly that: an estimate.

And remember, no calculator can tell you if you’ll actually be able to get a remortgage.

Habito can show you what you can really borrow in as little as 15 minutes. Just create an account, tell us what you’re looking for, and your expert will give you a reliable figure.