Interest rates are changing, and that could mean your monthly mortgage payment is about to shift too.
If you’re coming off a fixed rate, sitting on your lender’s standard variable rate, or just want to test what a new deal might look like, our Rate Change Calculator gives you instant clarity. It shows you exactly how much more (or less) you’ll be paying each month if your rate changes.
No forms. No sign-ups. Just a clear view of your mortgage future.
See how interest rate changes affect your monthly mortgage payments
| Current Rate | New Rate | Difference | |
|---|---|---|---|
| Interest Rate | 2.15% | 6.99% | +4.84% |
| Monthly Payment | £1,159 | £1,787 | +£628 |
| Annual Payments | £13,908 | £21,444 | +£7,536 |
James has a £225,000 mortgage with 20 years left. His 2.15% fixed deal is ending, and the lender’s SVR is 6.99%. Using the calculator, he sees his payments will jump by over £450/month. Time to explore remortgage options.
Priya is on a base-rate tracker. A potential 0.50% rise could increase her monthly payments by £82/month — the calculator helped her budget ahead.
Sam’s considering two remortgage deals — one at 4.99% with no fee, another at 4.59% with a £1,495 fee. The calculator showed him the break-even point in under a minute.
A: It gives a very accurate monthly payment estimate, but doesn’t include fees or specific lender conditions. For tailored advice, contact us.
A: This version is for repayment mortgages. If you’re on interest-only, we’ll be adding a version soon, or contact us for quick help.
A: Check your latest mortgage statement or contact your lender — even a rough estimate will give you a useful monthly cost comparison.
A: Yes. Plug in the interest rate and term of any deal you’re considering to see how it compares to your current one.
With interest rates shifting, it’s never been more important to know how your monthly payments could change.
Use our free Rate Change Calculator now — and if you’d like help reviewing your options or finding a better deal, speak to Mortgage Knight. We’re here to keep your mortgage manageable.
