Fixed vs Tracker Mortgage Calculator
Choosing between a fixed-rate deal and a tracker-rate deal? Enter your balance, both rates and an assumed Bank of England base-rate change, and see the monthly payment and total cost of each over your deal period.
Estimate only. This is an estimate — rates are uncertain, and future Bank of England base-rate movements can't be predicted precisely. Not financial advice; speak to a mortgage adviser before choosing a deal.
Enter your mortgage and both deals
Add your balance, the remaining term, and the fixed and tracker rates to compare the cost of each deal.
Fixed vs tracker — what are you really choosing between?
A fixed-rate deal locks in your monthly payment for the whole deal period, whatever happens to interest rates — you know exactly what you'll pay, but you don't benefit if rates fall. A tracker deal moves directly with the Bank of England base rate plus a fixed margin, so your payment can rise or fall during the deal. Because nobody can predict exactly what the base rate will do, this calculator lets you model one assumed change — up or down — taking effect halfway through the deal, and shows the total interest and fees for each option so you can see how sensitive the comparison is to that assumption.