This calculator reveals in under 20 seconds the interest you can save by re-mortgaging. Start by entering the value of your property, your mortgage with remaining term in years and your lenders variable interest rate.
Current interest rate
At the end of your introductory rate the interest you pay reverts to the lenders much higher standard variable rate. By re-mortgaging we can show you the potential interest savings for a new two-year fixed rate mortgage deal. For a new mortgage deal have a look at our Mortgage Best Buys.
Repayment of interest only mortgage
We show the monthly payments for a repayment and interest only mortgage. Most lenders require a repayment mortgage where the payment you make is equity (reducing your loan) and interest. At the end of the term you own your home whereas interest only means you still owe the mortgage to the lender
Equity Release may involve a Lifetime Mortgage or a Home Reversion Scheme. To understand the features and risks, please ask for a personalised illustration. Equity Release may affect your entitlement to means tested state benefits and will impact on the size of your estate. For Equity Release London City Mortgages charge a fixed fee upon completion of £695. For Mortgages a fixed fee is charged on application. Typically this is from £295 up to £495 for the services selected.
Equity Release - Equity Released from your home will be secured against it. Mortgages – Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it. Think carefully before securing other debts against your home. The information contained in this website is subject to the UK regulatory regime and is therefore intended for consumers based in the UK.
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London City Mortgages Limited is a registered company in England & Wales under company number 09278987. London City Mortgages Limited is an Appointed Representative (FCA no. 655965) of Blackstone Moregate Limited (FCA no. 459051) which is authorised and regulated by the Financial Conduct Authority. LCM and LCM Equity Release are trading names of London City Mortgages Limited.