Mortgage interest rates calculator - what will happen if rates change?
If you are about to, or have just purchased a property you may be wondering what effect a change in interest rate could have on your mortgage. Whilst interest rates are notoriously difficult to forecast, it can be useful to understand what would happen to your payments if rates do change in the future.
We might not be able to definitively say when interest rates will fall or rise, but we can give you an accurate figure as to what a change would do to your monthly mortgage payments. This calculator will help you work out how changes in interest rates affect your monthly mortgage payments and what impact it would have on your finances. This is especially relevant if you have or are thinking about taking out a variable rate mortgage.
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What will happen if interest rates rise or fall?
Enter the values above to calculate how your mortgage payments will change if rates rise or fall
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Latest mortgage best buys
Based on a mortgage of £125,000 at 50% LTV
| Provider and details | Initial rate | Overall cost for comparison |
|---|---|---|
 | 1.17% then 4.99% (variable) | 4.2% APRC |
 | 1.29% then 4.99% (variable) | 4.1% APRC |
 | 1.32% then 5.69% (variable) | 4.8% APRC |
Yorkshire BS | |
1.17% then 4.99% (variable) | 4.2% APR Overall cost for comparison |
Tipton & Coseley | |
1.29% then 4.99% (variable) | 4.1% APR Overall cost for comparison |
Leeds | |
1.32% then 5.69% (variable) | 4.8% APR Overall cost for comparison |
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Important information
If you are worried about your mortgage payments going up you could considering fixing your rate, although you wouldn't benefit from any drops in interest rate whilst you are on a fixed deal and you would also most likely have an early repayment charge during the fixed period. To get the right advice on what's best for you speak to one of our advisers who will find you the most suitable deal for your circumstances.
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