Updated: April 17, 2024
Mortgage Difference Calculator
Want to calculate and compare the difference between two different interest rates? Our mortgage calculator lets you do this and the brokers we work with can help you from here.
No impact on your credit score
If you want to compare what your mortgage repayments will look like based on two different interest rates, our mortgage difference calculator has you covered. Simply enter your mortgage details along with your current rate and the one you want to compare it with to get started.
Mortgage Difference Calculator
Our mortgage difference calculator will show you how much your monthly repayments could change with a different interest rate to what you have currently. Enter your outstanding mortgage amount, remaining term, both current and new interest rate. Our calculator will then do the rest.
We estimate your current monthly repayments are
At this rate, your payments could change by…
Speak to an experienced broker to help find you the best mortgage solution for your current circumstances.
The following topics are covered below...
Why use this mortgage calculator?
Unlike standard mortgage repayments calculators, this one allows you to directly compare two interest rates side by side. The results it returns not only illustrate what your mortgage payments will look like on two different interest rates, they also highlight the difference between the two so you get a clear picture of how much you could save.
The main benefits of this mortgage calculator are as follows…
- You can directly compare two mortgage deals and see how much you could save each month by choosing one over the other.
- If you’re on a variable rate mortgage, you can see how much your mortgage will go up by following a change to the Bank of England’s base rate.
- It can help you with planning and budgeting by allowing you to compare best and worst case scenarios for your mortgage repayments.
Get Started with a Broker
Maximise your chance of approval with specialist advice from a mortgage expert
Are there any limitations to it?
Although this calculator is a great starting point for a rates comparison, keep in mind that the results it returns are not bespoke to you. There’s no guarantee you’d qualify for the interest rates you’re comparing and there may be other variables to consider.
This is why speaking to an experienced mortgage broker is recommended as the next step after you’ve run some initial calculations. Not only can they provide you with bespoke numbers based on your needs and circumstances, they can potentially help you save money too.
Our Broker-Matching Service Guaranteed!
We want you to have complete confidence in our service, and get the best chance of securing your mortgage. We guarantee to get your mortgage approved where others can’t – or we’ll give you £100*
Why use Online Money Advisor?
We’ve already established that speaking to a mortgage broker should be your next step after you’ve run some initial calculations, but it’s important that you find the right mortgage advisor.
All mortgage brokers have a specific area of expertise, so ideally, you will need to work with one who specialises in customers just like you and has a strong track record securing the best mortgage deals for them.
This is where we come in. By using our free broker-matching service, you can rest assured that you will be paired with the perfect mortgage broker for you. Call 0808 189 0463 or make an enquiry to get started with a free, no-obligation chat today.
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Great, 5 star efficient service. Would recommend
Allen
Prompt, pleasant, thorough!
David was prompt helpful and thorough. Our case was particularly challenging and he still managed to secure a good deal for us!
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Ask Us A Question
We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in all different mortgage subjects. Ask us a question and we'll get the best expert to help.
Pete Mugleston
Mortgage Expert, MD
About the author
Pete, 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 found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with 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 OMA of course!
