Interest rate rise mortgage calculator: How much will it cost you?
>
Interest rate increase calculator: How will a move affect your mortgage payments and what will it cost you?
<!–
<!–
<!–<!–
<!–
<!–
<!–
The Bank of England raises interest rates and this drives up mortgage rates. With our calculator you can calculate what this could cost you.
You can calculate how much extra you’d pay on your mortgage if your lender changes the rate you pay (or how much you’d save if rates fell).
The calculator allows you to use your current mortgage interest rate and see how different levels of rate hikes would increase interest and monthly payments.
Enter a number for the size of the rate increase or a negative value, for example (-0.25) for a rate reduction.
> Check out the best live mortgage rates you can apply for with our mortgage finder
Base rate versus mortgage rate
If the Bank of England changes the base rate, some mortgage interest rates will change, but not all. Fixed deals remain at the same level until they end, base rate trackers will move by the same amount as the bank’s shift, and standard variable rates or other deals associated with them will move by an amount determined by the lender.
Latest news about interest rates and mortgages
Read our regularly updated guide for more information: What’s next with mortgage interest and should you fix it?
In our Mortgages & Home section you will also find all our latest articles on mortgage interest rates.
Savers benefit from higher rates – view the best savings rates in our independent tables.
Be the first to know about Bank of England rate changes – follow This is money on Twitter. Or get weekly updates, rate forecasts and other major issues in our This is Money newsletter – sign up using the box below.
We also cover the latest interest rate movements, best mortgage and savings rates and more in our weekly podcast. Visit the This is Money Podcast Channel or listen to Apple Podcasts, Spotify, audio tree, YouTube and more.