Remortgage Calculators
Looking for a remortgage calculator? We have one you can use for free and can also match you with a remortgage specialist to help you refinance.
Author: Pete Mugleston
CeMAP Mortgage Advisor, MD
Our remortgage calculator can help you determine your new mortgage payments and loan-to-value ratio after you’ve refinanced, with or without releasing equity.
Remortgage Calculator
Our remortgage calculator can tell you what your new loan-to-value (LTV) ratio and repayments will be after you've remortgaged, with or without releasing equity from your property.
New LTV:
After you have remortgaged your new LTV ratio will be and your new mortgage payments will be as indicated below…
New Monthly Repayments:
Get started with an expert broker to find out how much they can help you save on your remortgage.
How our remortgage calculator works
Our mortgage renewal 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. There’s also an option to release equity.
You can also play around with different interest rates to see how they impact things.
Speak to an expert
Speak to a mortgage advisor to compare the best remortgage options available to you
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, including information about how it can differ from one lender to another, try our mortgage affordability calculator below.
Mortgage Affordability Calculator
Use this calculator to determine how much you could potentially borrow for a mortgage, based on the typical salary multiples used by most UK lenders.
Based on your total household income, you could borrow up to:
*
4.5x income
This is what most lenders would consider letting you borrow
5x income
Some lenders would consider letting you borrow this amount
6x income
Very few lenders would consider letting you borrow this amount
*To get exact numbers based on your specific income, outgoings, age and other info, you'll need to speak to one of our experts. Lending policies change regularly, so this is purely for illustrative purposes only, and is not tailored financial advice.
Speak to a mortgage expert about your options
- Free initial consultation with no obligation
- A dedicated expert team to handle everything for you
- Honest, unbiased advice from whole-of-market brokers
- Expert guidance tailored to your situation
Calculating a buy-to-let remortgage
The repayments and loan-to-value calculations are no different for a buy-to-let mortgage than 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 determine how much you can borrow when refinancing your property.
We're so confident in our service, we guarantee it.
We know it's important for you to have complete confidence in our service, and trust that you're getting the best chance of mortgage approval at the best available rate. We guarantee to get your mortgage approved where others can't - or we'll give you £100*
Working out how much equity you can release
Our remortgage calculator includes an input field for homeowners who need to release equity or 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, is that some mortgage lenders impose LTV caps and maximum borrowing amounts on 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 renovate a property or fund home improvements.
- An LTV cap of 60-85% if you are consolidating debt.
- Maximum borrowing of £250,000 if you use 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 searching for a remortgage deal, you can use our LTV calculator below to find out what it is.
LTV Calculator
This calculator will tell you what your loan-to-value (LTV) ratio is, based on the property's value, your deposit/equity and the amount you're borrowing.
Your Results:
Your LTV is
This means that most mortgage providers will consider your deposit amount to be more than satisfactory, but speaking to a broker is still recommended to ensure you get the best deal.
This means you’re likely to meet the deposit requirements at most lenders, but since many reserve their best rates for those with higher deposits, speaking to a broker is recommended.
Many mainstream mortgage providers would consider this high and be reluctant to lend. Applying through a mortgage broker may be necessary to find a specialist low deposit mortgage lender.
LTVs have a direct impact on the rates available to you - speak to a mortgage broker and find out how to get the best deal based on your ratio.
Get StartedSuperb response and knowledgeable advisor
Steve, the financial advisor, contacted me within the hour and was very friendly, knowledgeable and professional. He seemed to relish my non standard requirement, diligently kept me updated during the day and we struck up a great relationship. Very impressed.
Peter Costello
Knowledgeable and Supportive
The team were fantastic and really knowledgeable and supportive. They answered all questions promptly and came back to me with regular updates. I have already recommended them and will use them again.
Dorothy
Prompt and Professional
A very prompt and professional service. The advise and guidance has been so valuable as a first time buyer.
Ayesha
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 ensure 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 0330 818 7026 or make an enquiry, and we’ll match you with the remortgage specialist best placed to help you save time and money when refinancing your property.
Speak to an expert
Speak to a mortgage advisor to compare the best remortgage options available to you
Pete Mugleston
CeMAP Mortgage Advisor, MD
Pete, a CeMAP-qualified mortgage advisor and an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete successfully went the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained and his love of helping people reach their goals led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.
Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for Online Mortgage Advisor of course!
Superb response and knowledgeable advisor
Steve, the financial advisor, contacted me within the hour and was very friendly, knowledgeable and professional. He seemed to relish my non standard requirement, diligently kept me updated during the day and we struck up a great relationship. Very impressed.
Peter Costello
Knowledgeable and Supportive
The team were fantastic and really knowledgeable and supportive. They answered all questions promptly and came back to me with regular updates. I have already recommended them and will use them again.
Dorothy
Prompt and Professional
A very prompt and professional service. The advise and guidance has been so valuable as a first time buyer.
Ayesha