Rate Change Implications

For those who have purchased a property and may be wondering what a change in interest rate will have on their mortgage repayments, the handy calculator below can provide a good estimate of how much more or less you may pay in the event that interest rates do rise or fall.

Fixed rate mortgages usually mean there will be no change to your payments even in the event of a base interest rate rise or fall. You can find out more information and advice on whether it is worth taking up a fixed rate mortgage or going ahead with a variable rate. Speak to L&C, the country’s leading fee free mortgage advice brokers on 0800 073 1951.

What impact can an increase or decrease in interest rate
have on your mortgage repayments

Current loan on a repayment basis

£100000

£0

£900,000

Current loan on an interest only basis

£0

£0

£900,000

Current interest rate

4.5%

0%

10%

Term of loan (years)

25

5 years

45 years

Anticipated rate change

0.5%

0%

5%

Your current payment is £ per month. A rate change of 0.5% would increase your payments.

£ per month

Difference of £ a month, £ per year

Free Mortgage Advice with L&C

The team at L&C believe that buying a home should be fun and remortgaging should be simple.

Finding the right mortgage and moving house can feel both time-consuming and daunting. Especially when there are so many options and decisions to be made. That’s why L&C do all the hard work for you. They’ll search for great deals across the market, and as the UK’s leading fee free mortgage broker, they won’t charge you a penny. Get in touch with one of their expert advisers and find the right mortgage for you.

Our Mortgage Calculators

How much can I borrow?

Discover how much you could borrow using our simple calculator.

How Much Will It Cost?

Discover how much your monthly mortgage costs could be with our easy to use tool.

Stamp Duty Calculator

Discover how much stamp duty tax you will have to pay when buying a property.

Rate Change Implication

Discover the impact an increase or decrease in interest rates can have on your mortgage repayments.

Mortgage Overpayment

Discover how mortgage overpayments may reduce interest costs and save you money on your mortgage payments.

Early Repayment Charge

Discover how much it will cost to exit a mortgage agreement early.

Looking for a mortgage or need some advice? Speak to an expert at L&C today

The House Network Mortgage Service is provided by London & Country Mortgages (L&C), Beazer House, Lower Bristol Road, Bath, BA23BA, London & Country are authorised and regulated by the Financial Conduct Authority (registered number: 143002). The FCA does not regulate most Buy to Let mortgages. Think carefully before securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage.

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