This calculator is designed to tell you if it’s worth paying to ditch your current fixed mortgage deal and switch to a new fix at a lower rate. However, with interest rates rising, it’s unlikely you’d be able to find a lower fixed rate than the one you’re currently on – meaning paying to ditch comes with extra risks. If you’re thinking about moving to a different mortgage because your current fixed rate is coming to an end, or because you want to lock in today’s fixed rate, then use our compare two mortgages calculator to see the difference in monthly payments and costs.