Stay here for rate impact
Compare fixed, tracker and rate-change scenarios when the question is monthly payment, interest during the window and balance left at the end.
Stay here for rate impact → Interest Rate Calculator
Compare fixed, tracker and rate-change scenarios over the next planning window
Use the planner to compare the rates you are actually testing, see how the payment and balance change over the next chosen period, and judge the trade-off between monthly cost and remaining balance with a clear timeframe in view.
Fixed and tracker comparisonsRate-change pressure testsWindow-based results
Bank Rate
Held at 3.75% on 30 April 2026, with the next decision due on 18 June 2026
Fixed Periods
Common fixed periods are usually around 2 to 10 years
Deal-End Timing
Many borrowers start reviewing options around six months before deal expiry
Calculator
Compare the next window rather than guessing the whole mortgage path
Use the planner below to compare fixed and variable-style paths over a chosen window, or to see what a rate rise or cut would do over the next selected period.
Mortgage Details
£
years
years
Use a window that matches the deal period you want to compare, for example 2 years or 5 years.
Fixed-Rate Scenario
%
Use the fixed rate you are considering and match the window to the deal period you want to judge, such as 2 years or 5 years.
Variable / Tracker Scenario
%
Enter the starting rate on the variable or tracker option you want to compare. If pricing changes, rerun the numbers with the updated rate.
Fixed-Rate Path
Monthly Payment
£1,347.36Interest During 2 years
£20,532Balance After 2 years
£238,195Variable / Tracker Path
Monthly Payment
£1,461.48Interest During 2 years
£24,502Balance After 2 years
£239,427Comparison Summary
Monthly Payment Difference
+£114.12Positive means the variable / tracker payment is higher.
Interest Difference Over 2 years
+£3,970Positive means the variable / tracker path costs more interest during the selected window.
Balance Difference After 2 years
+£1,232Positive means the fixed-rate path leaves you owing less at the end of the selected window.
How to read this comparison
This view keeps each entered rate unchanged across the selected window so you can compare monthly cost, interest and remaining balance on a like-for-like basis. If pricing moves or you want to test a different deal period, update the rate or window and rerun the comparison.
Rate Route
Keep rate comparisons separate from deal timing and lender research
The rate planner owns payment changes from fixed, tracker and variable scenarios. When the question changes to expiry timing, remortgage costs or lender routes, move into the matching owner page.
Read the fixed-versus-variable guide for structure choice
Move there when the question is certainty versus flexibility, or whether a tracker, discount or SVR route behaves differently from a fixed deal.
Read the fixed-versus-variable guide for structure choice →Move to deal-ending when expiry timing matters
If a current deal is close to ending, the next decision is timing, same-lender options and avoiding the SVR, not only the rate label.
Move to deal-ending when expiry timing matters →Move to lenders when the rate is brand-specific
If the query is about a named lender rate or an existing-customer switch route, use the lender hub before comparing the numbers.
Move to lenders when the rate is brand-specific →How To Use It
What each planner view helps you decide
The planner keeps the comparison tied to the rates and timeframes you enter, so the output stays close to the decision in front of you.
The fixed-versus-variable comparison is window-based
It compares the entered rates across the selected deal window, such as 2 years or 5 years, instead of stretching one starting rate across the whole mortgage term.
The rate-change tab is a pressure test, not a prediction
It shows what a higher or lower rate would do over the next selected window only. That makes it more useful for budget planning than stretching one assumption across the full mortgage term.
The output keeps the balance in view
A lower monthly payment does not always mean a cleaner outcome if it leaves a larger balance behind. The planner shows the balance at the end of the selected window to keep the comparison grounded.
Use Cases
Three common decisions this planner helps you frame
Most borrowers are not comparing rate types in the abstract. They are usually deciding between a handful of practical next steps.
Choosing between payment stability and a lower starting rate
Use the fixed-versus-variable view when the real question is whether a lower starting rate is worth the extra uncertainty in monthly payments.
Reviewing options before a fixed deal ends
Use the same deal window on both sides if you are choosing what to line up before a current fix expires and you want to avoid dropping onto the SVR.
Testing the budget against a rate move
Use the rate-change view when you want to see what a rise or cut would do to the monthly payment and interest over the next selected period.
Key Reminders
What to keep in mind before you choose a rate
Use the planner for comparison, then keep these practical decision points in mind before you choose a product.
A lower starting rate can still leave a bigger balance behind
A lower monthly payment does not automatically mean the cleaner outcome. Check what happens to the balance by the end of the selected window as well.
Bank Rate is a benchmark, not a personal quote
Lenders set mortgage pricing separately, so live product rates can move differently from the policy rate. Keep Bank Rate in context, but compare the actual product pricing available to you.
The end of a fixed deal is its own decision point
If a fixed deal is close to expiry, the next question is not only fixed versus tracker. It is also whether to stay with your lender, switch away, or line up a new rate early enough to avoid the SVR.
Next Tools
Use these tools when the rate choice opens into a wider decision
Pair this planner with the wider rates, remortgage and deal-ending pages when the decision depends on more than one comparison.
Mortgage Calculator
Return to the baseline repayment calculator when the question is the standard monthly payment, term and balance schedule.
Interest Rates Guide
Read the definitions, comparison criteria and deal-end behaviour behind this planner.
Fixed vs Variable Guide
Use the focused guide when the decision is payment certainty versus flexibility.
Stress-Test Planner
Model the monthly-payment impact of higher rates if you want a more direct affordability check.
Mortgage Deal Ending
Use the action-plan page if your current fixed deal is close to expiry and timing now matters more than theory.
Remortgage Calculator
Move on to the remortgage planner if you want to compare switching costs with a replacement deal.
Lender Hub
Check lender-specific switch, transfer and rate-route pages when the question has moved beyond rate type.
Frequently Asked Questions
Does this calculator predict where mortgage rates will go next?
No. The planner compares the rates you enter over the selected planning window. Mortgage pricing does not move in lockstep with Bank Rate, so you should still check live product pricing when you are close to applying.
What is the difference between a fixed and tracker mortgage?
A fixed-rate mortgage sets the mortgage payment for a set period, usually around 2 to 10 years, while a tracker follows the Bank of England base rate and your payments can rise or fall as that rate changes.
What happens when a fixed-rate mortgage ends?
If you do nothing when a fixed-rate mortgage ends, you will usually move onto the lender's standard variable rate.
Why does the rate-change tab only show the selected planning window?
Because that is the part you can compare with the least guesswork. A higher or lower rate may not stay in place for the whole mortgage term, so the planner stays focused on the next selected window.
What is Bank Rate right now?
Bank Rate was held at 3.75% on 30 April 2026, with the next scheduled decision due on 18 June 2026. That is an important benchmark, but it is not a direct price list for every mortgage product.