Start with the existing loan
Get the balance, remaining term, interest rate, repayment amount and fixed-rate end date for each part of the loan. Ask the current lender for its available options and a written estimate of costs if you leave.
Compare the full cost of a change
Check early repayment charges, legal or valuation costs and any cash contribution that may have to be returned. Compare alternatives over the same remaining term. A smaller regular payment achieved by extending the loan can mean paying interest for longer.
Look beyond the interest rate
- How much extra could you repay and when?
- Would you like predictable payments or more room for changes?
- Do you expect to sell, renovate or change jobs during the proposed fixed term?
- What would the change cost up front, and how long might it take to recover that cost?
Compare illustrative repayments · Read Sorted’s refinancing guide