Compare two mortgage rates
Use this calculator to compare two mortgage deals side by side. See how differences in rates and fees affect your monthly repayments, total cost over your chosen period, and how much you’ll still owe.
Mortgage debt
Mortgage term
Mortgage type
A repayment mortgage means that, over the length of the loan, you will repay the full amount you borrowed as well as some interest.
An interest-only mortgage means you only pay the interest, and once the loan is over (eg, 25 years after you took it out), you still owe the amount you borrowed.
If you don't know which type you have, call your lender to ask.
Mortgage 1
Mortgage 2
Compare over
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Results
Let's compare two different mortgages. Just pop in a few details to get started.
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Enter your mortgage amount - this is how much you’re borrowing or have left to repay.
Enter your mortgage term - the full length of your mortgage, not just your fixed-rate period.
Choose your mortgage type (repayment or interest-only).
Add the interest rate and product fees for each mortgage.
Select the comparison period - using your fixed term usually works best.
Hit Compare to see the difference in monthly repayments, total cost, and remaining balance.
What this calculator helps you compare
Monthly repayments for each mortgage
Total cost over your chosen period
Remaining balance at the end of that period
The impact of fees versus lower interest rates
What it does not do:
Search the market for mortgage deals
Compare lenders or products
Check your eligibility
Replace personalised mortgage advice
Want to compare mortgages from across the market? Use our mortgage comparison tool to find deals tailored to your needs.
When this calculator is most useful
Comparing two mortgage offers
Weighing up a product transfer versus a new deal
Checking whether a lower rate offsets higher fees
Methodology and assumptions
Interest is calculated monthly
Product fees are added to the mortgage balance
The interest rate stays the same over the comparison period
For interest-only mortgages, monthly payments remain the same even if you reduce the balance
Author
Alan Cairns
Senior Content Editor
Alan breaks down money, home, and energy topics into plain English to help you save money. Ask him about pound cost averaging or Balkonkraftwerk.
Reviewer
Ashton Berkhauer
General Manager • Commercial
Currently the General Manager for Home Services and Mortgages, Ashton observes the markets and, along with his team, strives to get the best possible solutions for consumers. The products within his...
