Remortgage Calculators

You can use our remortgage calculator to work out what your new mortgage payments and loan-to-value ratio will be after you’ve refinanced, with or without releasing equity.

Give it a try below and read through the rest of this article to find out what to do next.

How our remortgage calculator works

Our remortgage calculator can tell you what your new LTV and repayments will be when you refinance.

Enter your property value, remaining mortgage balance, mortgage term and interest rate, and the tool will do the rest. If you need to release any equity, there’s an option for that too.

You can also play around with different interest rates to see how they impact things.

Calculating your maximum borrowing

Our remortgage calculator gives you a rough idea of the maximum amount you could borrow when refinancing, but if you want a detailed breakdown of this, including information about how it can differ from one lender to another, try our mortgage affordability calculator below.

Calculating a buy-to-let remortgage

The repayments and loan-to-value calculations are no different for a buy-to-let mortgage compared to a repayment one, so our calculator can help you work these figures out for your investment property. Affordability is, however, calculated very differently.

Head over to our buy-to-let mortgage calculator page to work out how much you can borrow when refinancing your property.

Working out how much equity you can release

Our remortgage calculator includes an input field for homeowners who need to release equity/borrow extra when they refinance. The unlocked capital is factored into the calculations and reflected in the new loan-to-value ratio and repayments it outputs.

One thing to consider, though: some mortgage lenders impose LTV caps and maximum borrowing amounts of remortgage customers who are releasing equity, based on the purpose of the funds.

These can include the following:

• A maximum LTV of between 75% and 85% for general purposes, such as funding the purchase of a second property.
• An LTV cap of 90% if you are renovating a property or funding home improvements.
• An LTV cap of 60-85% if you are consolidating debt.
• Maximum borrowing of £250,000 if you are using the funds to buy or renovate a property.

How to calculate your LTV ratio

If you want to work out your loan-to-value ratio before you search for a remortgage deal, you can use our LTV calculator below to find out what it currently is.

What you should do next

Now that you’ve run some calculations for your remortgage, your next step should be to speak to a broker who specialises in arranging remortgages to make sure you get the best deal.

Although the results our calculator provides are a good starting point, the right mortgage broker will be able to provide you with bespoke calculations and help you get the lowest interest rate on the most favourable terms based on these numbers and your profile as a borrower.

Call 0808 189 2301 or make an enquiry and we’ll match you with the remortgage specialist who is best placed to help you save time and money when refinancing your property.