Refinance Calculator

Current Loan

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£ Mo
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Refinanced Loan

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Refinancing Costs

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By refinancing your current loan balance of £20,000.00 at 4% over 5 years, you will decrease your monthly payments by £331.67 and add 29 months to the loan term. The total interest paid over the life of the loan will increase by £760.86.
 Current LoanRefinanced Loan
Monthly Payment£700.00£368.33
Total Payments£21,338.99£22,099.85
Total Interest£1,338.99£2,099.85
Pay-off Date27 February, 202027 July, 2022