Buy to Let Re-Mortgage Calculator

Have you been thinking about a re-mortgage for your buy to let properties?

As property prices start to rise again the range of Buy to Let mortgages is inevitably going to increase.  But if you’re tempted it might be worth considering whether you are actually going to be better off in the long run.  We hope that this calculator will help you compare your current payments against any quotes you are considering.

First things first:

  • This is not financial advice
  • We are not recommending a product
  • We are recommending that you search the market and take professional advice!

So having established the above points lets consider what you should do:

  1. Check the balance on your current mortgage
  2. Check the rate you are currently paying
  3. Check the rental income you are getting
  4. Research the market and get one or more buy-to-let mortgages you would like to compare.
  5. Fill the in the form below and the calculator will show you the saving, and how long it will take you to break even.
  6. To get an accurate picture it is very important that you include the financing costs, such as set up costs, legal/valuation fees, and broker fees.
Mortgage Refinancing Calculator
This JavaScript calculator will help you to work out whether or not you should refinance your current buy-to-let mortgage to a lower interest rate.
Not only will this calculator calculate the monthly payment and net interest savings, but it will also calculate how many months it will take to break even by including the refinancing costs.
Enter the current balance of your mortgage:
(call your mortgage lender and ask
for the current redemption figure)
Enter the amount of your current monthly mortgage payment:
(capital and interest portion only)
Enter the your mortgage’s current interest rate: %
Enter interest rate you will be refinancing to: %
Enter the number of years you will be refinancing for:
Enter the total refinancing costs that will be incurred:
This is how much your monthly payment will be if you refinance:
Monthly Savings:
Number of months to break even including refinancing costs:
This is how much interest you will pay under your current monthly payment plan:
This is how much interest you will pay under your refinanced monthly payment plan:
This is how much interest you will save if you refinance:
Net Refinancing Savings (interest savings less closing costs):

Hopefully you now have idea how to compare your current payments against the repayment options.  Most important that you include the set up costs, as the vast majority of buy-to-let mortgages now carry significant fees.