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Rate Change Calculator
Use our rate change calculator to get an idea of how much your monthly mortgage payment might change.
You can find your current mortgage details in your most recent annual mortgage statement.
If you have a fixed rate mortgage, any change to the Bank of England base rate will not affect the fixed interest rate during the fixed rate period.
Where your mortgage is made up of a number of variable rate sub-accounts or parts, you'll need to complete separate calculations for each one.
If your mortgage is affected by a rate change, we will always write to you, to let you know your new monthly payment ahead of it being taken.
Comparing fixed and variable rates
There are different types of mortgage interest rates and each work in different ways. We’ve explained the differences below so you can choose the one best suited to your needs.
If you decide to take out a new fixed interest rate with us, we may charge you a fee, called a product fee. If you’re an existing customer, you won’t usually pay legal fees or need a new valuation, even if you switch when your current rate ends.
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Fixed interest rate
Variable interest rate -
Lender variable rate
Variable interest rate -
Tracker rate
Fixed interest rate
What are the different types of rates?
Variable interest rate - Lender variable rate
Your interest rate stays the same for a set amount of time.
At the end of the fixed rate period, we’ll change you to another rate. This is usually one of our variable rates.
Variable interest rate - Tracker rate
We set our lender variable rate and we can change it, but it will only go up if there’s a:
- change to our cost of lending or
- change to laws and regulations.
Your interest rate is linked to the Bank of England base rate and changes if the base rate does.
Your interest rate will be made up of the base rate plus or minus a percentage.
Fixed interest rate
Can my interest rate change?
Variable interest rate - Lender variable rate
No, not during the fixed rate period.
Variable interest rate - Tracker rate
Yes, your interest rate will go up or down if we change our lender variable rate.
Yes, your interest rate will change if the base rate goes up or down.
Fixed interest rate
Can my monthly payments change?
Variable interest rate - Lender variable rate
We may update your monthly payment amount each year to make sure your payment is on track. For example, if you’ve made an overpayment.
Variable interest rate - Tracker rate
Yes, your monthly payment can change if rates go up or down. If they go up, you could end up paying more than you budgeted for.
Yes, your monthly payment can change if rates go up or down. If they go up, you could end up paying more than you budgeted for.
Fixed interest rate
Will I be charged if I overpay or pay my mortgage off early?
Variable interest rate - Lender variable rate
You may be charged if you repay all or part of your mortgage before the fixed rate period ends. We call this an Early Repayment Charge.
Variable interest rate - Tracker rate
You won’t usually be charged if you repay all or part of your mortgage.
You may be charged if you repay all or part of your mortgage in a certain amount of time after you take out a new tracker. We call this an Early Repayment Charge.
We’ll let you know before making changes to your interest rate or monthly payments.
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To help you work out which type of mortgage is right for you, here’s some things you might want to think about:
- Would you like to know that your interest rate won’t change for a certain amount of time?
- Could you afford to make higher monthly payments if interest rates go up?
- Would you like to pay more than your usual monthly payment without being charged? You can find out more about early repayment charges
If you need more information about these types of mortgage rates, you can call us. If you’d like some independent advice, you may want to talk to a financial adviser.
Calculate your mortgage payments
Current mortgage balance
You can find your mortgage balance in your most recent annual mortgage statement.
You'll need to take into account any payments made on your mortgage since the date of the statement. If you've fallen behind with your payments on any part of your mortgage that is a repayment mortgage, you'll need to take off the amount of arrears from the current balance.
Important: If you have a mortgage made up of part repayment and part interest only, you'll need to do a separate calculation for each.
Remaining term
The length of time you have left to pay back your mortgage.
You can find your remaining term details in your most recent annual mortgage statement.
Important: Please check the remaining term on your main account and each sub account.
Current interest rate
This is the interest rate for your sub account on the date shown.
You can find your interest rate details in your most recent annual mortgage statement.
Important: Please check the interest rate on your main account and each sub account.
Interest rate change
Use the + or - buttons to add and deduct amounts of 0.25%. Or just type in the rate change percentage you'd like to see illustrated.