Ditch your fix?
If rates have fallen below your fix, breaking out early can save thousands — or cost you thousands once the ERC and fees bite. We model both paths month by month and tell you the break-even point, plus a £-denominated verdict from the AI agent.
Should you ditch your fix?
We model your ERC, the new deal, and tell you the break-even month.
Switch — you save £576
You break even in month 56 (4.7 years) and save £576 in interest over the 5-year fix.
Cumulative interest paid (plus upfront cash if you switch). The crossover point is your break-even month.
Hand off to the AI agent.
The agent loads your numbers, checks today's UK market, and tells you which lender to look at — or whether to wait.
How "ditching your fix" actually works
When you break out of a fixed-rate mortgage early, the lender charges an Early Repayment Charge (ERC) — usually 1–5% of the outstanding balance, stepping down each year you're into the fix. On top of that you'll pay switch fees (legal, valuation) and the new lender's product fee.
Switching makes sense when the lower rate's monthly saving — over the length of the new fix — exceeds those upfront costs. We simulate both paths and surface the crossover month, so the answer stops being "feels right" and becomes a number.
What we don't show. ERCs typically step down on your deal anniversary; if you can wait three months for the next step you may save another 0.5–1.0% of your balance. Drop the numbers into the AI agent for a time-aware verdict.
Estimates only — not regulated financial advice. The actual deal you can secure depends on lender criteria, LTV, credit profile and property type.