Remortgaging or moving, costed in order
When a fixed rate ends or you outgrow your home, a chain of costs decides your next move. This guide runs the six calculations that matter — from the remortgage saving to early repayment charges and a fresh affordability check.
Your fix ends in three months. Stay, switch, or move?
SVR jump
when a fix ends
ERC
penalty to leave early
Re-check
affordability first
When a mortgage deal expires you don’t just “roll over” — you choose between the lender’s pricey standard variable rate, a new fix, overpaying, or moving altogether, and each has its own cost. Leave a deal early and an early repayment charge can wipe out the saving. Each calculator below settles one piece — run them in order to find the cheapest next step.
The remortgage & moving path, step by step
Six calculations in the order the decision unfolds — work out the saving first, check what leaving costs, then look at moving if that’s on the table.
What would remortgaging save you?
When your fixed or tracker rate ends you usually drop onto the lender’s standard variable rate, which is typically much higher. Remortgaging to a new deal can save meaningfully each month. Work out the saving against your current and SVR rates before doing anything else.
Remortgage Calculator →Is there an early repayment charge?
Switch before your current deal ends and you may face an early repayment charge — often 1–5% of the balance, which can be thousands. Sometimes it still pays to switch early; often it’s better to wait. Check the ERC before you commit, because it can erase the remortgage saving entirely.
Early Repayment Charge Calculator →Would overpaying serve you better?
If your rate is already competitive, overpaying rather than remortgaging can cut your term and total interest — most lenders allow up to 10% a year penalty-free. Compare what an overpayment does against switching deals; sometimes the simplest move is the best one.
Overpayment Calculator →Can you still borrow what you need?
Moving home means a fresh affordability assessment — rates, rules and your circumstances may have changed since you last borrowed. Check what a lender will offer now before you start viewing, so you’re searching in a realistic price range.
Affordability Calculator →What stamp duty will the new home cost?
A new purchase brings a fresh stamp duty bill, due in cash at completion on top of your deposit and fees. On a larger home it can be substantial. Work it out early so it doesn’t derail the move between offer and completion.
Stamp Duty Calculator →Do you need a bridging loan?
If you’re buying before your current home sells, a bridging loan can cover the gap — fast but expensive, with higher rates and fees. It’s a short-term tool, not a long-term plan. Understand the cost before relying on it to keep a chain together.
Bridging Loan Calculator →Why the order matters
The remortgage saving comes first because it’s the number every other decision is judged against — there’s no point weighing an early repayment charge or an overpayment until you know how much switching would actually save.
The early repayment charge comes straight after for a reason: it’s the single most common thing that turns a worthwhile remortgage into a bad one. A £3,000 ERC can swallow a year’s saving, so it has to be checked before you act, not discovered after. The moving steps only matter if relocating is genuinely on the table — settle the stay-or-switch question first.
Stay, switch, overpay or move — at a glance
When a deal ends you have four broad options. The right one depends on your rate, your plans and any early repayment charge.
| Your situation | Likely best move |
|---|---|
| Fix ending, better deals available | Remortgage to a new deal |
| Mid-deal, large ERC, good rate | Wait, then remortgage at maturity |
| Competitive rate, spare cash | Overpay within the penalty-free limit |
| Outgrown the home | Re-check affordability, then move |
These are starting points, not rules — a large enough saving can justify paying an ERC, and a move changes everything. The key is to cost each option before committing, beginning with the remortgage saving and the early repayment charge. Start with the remortgage calculator.
Ready to run your own numbers?
Begin with the remortgage saving — the figure every other option is judged against — then work down the path one calculator at a time.
A remortgage decision, worked through
One realistic example, run through the whole sequence, to show how the steps connect in practice.
- Remortgage saving. Her fix is ending and she’d roll onto the lender’s SVR, so switching to a new deal saves a meaningful amount each month.
- Early repayment charge. She’s near maturity, so the ERC is minimal — switching now versus waiting 4 months barely differs, and a new offer can be locked in advance.
- Overpay alternative. Her new rate is competitive, so she also models overpaying — but decides to remortgage first, then overpay within the penalty-free limit.
- Affordability. She’s staying put, not moving, so no fresh affordability check is needed this time.
- No move. With no purchase, stamp duty and bridging don’t apply — she stops at the remortgage, the cheapest next step.
The takeaway: the early repayment charge is what usually turns a good remortgage into a bad one. Sara checked it second — right after the saving — and because she was near maturity, switching made clear sense rather than being eaten by a penalty.
Five mistakes people make remortgaging or moving
The errors that recur among UK remortgagers and movers — and the ones that cost the most.
Drifting onto the standard variable rate
When a deal ends you roll onto the lender’s SVR, usually far higher. Doing nothing can cost hundreds a month. Line up a new deal 3–6 months before your fix ends.
Cost: hundreds a month on SVR Fix: remortgage before the fix endsSwitching mid-deal without checking the ERC
Leaving early can trigger an early repayment charge of 1–5% — thousands of pounds that can wipe out the saving. Always check the ERC before switching mid-deal.
Cost: a saving cancelled by penalty Fix: check the ERC firstRemortgaging when overpaying would do
If your rate is already competitive, overpaying can cut term and interest without the cost of switching. Compare overpaying against remortgaging rather than assuming a switch is best.
Cost: needless switching costs Fix: compare overpay vs remortgageUnderestimating stamp duty when moving
A new purchase brings a fresh stamp duty bill, due in cash at completion. On a larger home it’s substantial — and the additional-property rate can apply temporarily if you haven’t sold first.
Cost: a completion cash shortfall Fix: cost stamp duty before offeringRelying on a bridging loan as a default
Bridging finance is fast but expensive — high rates and fees — and meant for short gaps only. Treating it as a routine plan rather than a last resort can be costly.
Cost: high interest and fees Fix: use bridging only as a last resortRemortgage and moving questions, answered
When should I start looking to remortgage?
What is an early repayment charge?
Is it better to remortgage or overpay?
Do I pay stamp duty when I move home?
What is a bridging loan and when would I need one?
Will my affordability be reassessed when I move?
Can I remortgage to release equity?
Other Calclens guides & tools
How this guide is built
The sequence follows how a remortgage or move actually unfolds — work out the saving, check the cost of leaving, then assess moving if relevant — the order a mortgage broker would walk you through.
Every calculator linked here is a free Calclens tool with its own methodology and worked examples. Standard variable rates, early repayment charges, overpayment limits and stamp duty follow current lender practice and HMRC and GOV.UK guidance; the individual calculator pages carry the detail.
Definitions and sources: methodology · sources.
Not financial advice. This guide is for general information and links to calculators that produce estimates. Mortgage decisions depend on your circumstances and lender criteria — confirm figures with a qualified mortgage adviser before acting.