Compare fixed and tracker mortgage payments across rate rises and falls. See the monthly difference using your balance, remaining term and starting rate.
Tracker Rate Payment-shock Calculator
See how your monthly payment could change on a tracker, compared with keeping your rate fixed.
Uses the same starting rate to show the effect of rate changes. For a tracker, enter Bank Rate plus your lender’s margin.
| Scenario | Rate | Monthly payment | ChangeMonthly change |
|---|---|---|---|
| Fixed — during your deal 4.75% | 4.75% | £1,140 | £0/month |
| Tracker: −1.00 points 3.75% | 3.75% | £1,028 | −£112/month |
| Tracker: −0.50 points 4.25% | 4.25% | £1,083 | −£57/month |
| Tracker: rates unchanged 4.75% | 4.75% | £1,140 | £0/month |
| Tracker: +0.50 points 5.25% | 5.25% | £1,198 | +£58/month |
| Tracker: +1.00 point 5.75% | 5.75% | £1,258 | +£118/month |
| Tracker: +2.00 points 6.75% | 6.75% | £1,382 | +£242/month |
A fixed rate keeps your payment at £1,140 during your fixed deal, whether Bank Rate rises or falls.
If rates rose by 2 percentage points, could you absorb another £242 a month from your spare income?
Illustration only, for repayment mortgages. Assumes rate changes apply now, with an unchanged tracker margin and no cap or collar. Fixed payments stay unchanged during the fixed deal. Excludes fees and overpayments. Figures are rounded independently to the nearest pound.
Understanding the comparison
The calculator uses the same mortgage balance, remaining term and starting rate for every row. This isolates the effect of rate changes; actual fixed and tracker offers may have different starting rates.
A change of 1 percentage point takes a 4.75% mortgage rate to 5.75%. Your tracker payment is recalculated over the remaining mortgage term, while the fixed-rate payment stays the same during the fixed deal.
Monthly changes are compared with your starting payment. Green negative figures show a lower monthly payment. The scenarios are illustrations, not predictions of where rates will go.
Certainty or flexibility?
Could you absorb the higher tracker payments from your spare income? A fixed rate offers payment certainty during the deal, but you also need to plan for when it ends. Tracker payments can rise or fall, subject to your lender’s terms.
Read our fixed or variable mortgage guide for the wider decision, including fees, early repayment charges and flexibility.
Get in touch
We are your online mortgage broker, offering you the convenience of applying for a mortgage online. However, we understand that sometimes you may prefer to speak with a human - phone, email or in person.
- Phone number
- 01133 205 902
- [email protected]
- Postal address
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31 Bradford Chamber Business Park,
New Lane, Bradford, BD4 8BX
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