Utilize our mortgage interest calculator to determine how big of an impact a potential increase in interest rates could have on your monthly mortgage repayments.

Utilize our mortgage interest calculator to determine how much additional money you would have to pay each month if your mortgage rate jumped by anywhere from 0.25 percent to 3 percent. Simply enter your current interest rate, remaining loan balance, and length of time on your mortgage, and we will handle the rest.

How to Protect Yourself from Rising Mortgage Interest Rates

If you have a mortgage with a variable interest rate, such as a discount or tracker mortgage, any changes to the base rate set by the Bank of England or to the standard variable interest rate set by your bank will have an immediate effect on the amount that you are required to pay each month.

In the event that this occurs, it is important to determine whether or not you may reduce your monthly payments by refinancing your mortgage.

A rate increase can also have a significant impact on you when you reach the end of an initial contract period. This is the case, for instance, if you have reached the end of the introductory period of your fixed-rate mortgage, which could have lasted for two or five years.

After this term has passed, you will typically be subject to the standard variable rate (SVR) offered by your lender, which is very likely to be a great deal higher.

You should be able to get a better deal if you remortgage your home at this point because you will have built up more equity in your property (unless you had an interest-only mortgage), and the introductory rates on new deals will almost always be lower than your current lender’s standard variable rate (SVR). In most cases, you will be able to get a better deal because you will have built up more equity in your property.

More mortgage calculators

Calculator for the payment of a mortgage: comparison shopping for offers? Find out how much you would have to pay back every month if the interest rate and costs associated with the mortgage were added to the amount you were borrowing and the length of the mortgage.
Use this mortgage overpayment calculator to determine how much faster you could pay off your mortgage if you made more overpayments, as well as how much money you could save in the process.