Interest rate change calculator

The calculator below will give you an estimation of how much your monthly mortgage payments could change by if the interest rate changes.

Please note that this applies to customers who have a standard variable rate or tracker rate mortgage. Customers who have a fixed rate mortgage will not be affected by interest rate changes provided they are within their fixed rate term.

Warning – This calculator is for capital repayment mortgages only. The information provided by this tool is for illustrative purposes only and is not a precise calculation. This information does not include all of the details that you need to select a mortgage or compare mortgages.

Make sure you read the separate Mortgage Illustration (ESIS - European Standardised Information Sheet), you can get one of these by calling us on 0800 923 1536. We’re open 8am–8pm Monday to Friday and 9am–1pm on Saturday (excluding bank holidays).

Think carefully before securing other debts against your property.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Interest rate change calculator assumptions

Years and months: These calculations are based on a year being 12 months and that all months are of equal length. (A precise calculation would show a slight variation from month to month as interest is charged daily and the number of days in a month varies).

Interest rates: The calculator assumes that interest rates (once changed on this tool) will remain the same for the whole term. (A precise calculation would depend on the type of mortgage product you choose, for example a tracker mortgage tracks the Bank of England base rate and interest charged would change depending on these variations).

Payment amounts: The calculator does not round figures to calculate the amount of interest payable over the full term of the loan, but does present the result as rounded up or down to the nearest pound. Therefore it will either slightly understate or overstate the repayment amount. This calculator assumes that there are no overpayments made throughout the term of the mortgage.

Warning – the information provided by this tool is for illustrative purposes only and is not a precise calculation. This information does not include all of the details that you need to select a mortgage or compare mortgages. Make sure you read the separate Mortgage Illustration (ESIS - European Standardised Information Sheet), you can get one of these by calling us on 0800 923 1536. We’re open 8am–8pm Monday to Friday and 9am–1pm on Saturday (excluding bank holidays).

How to apply

Find out how to apply for an M&S Bank Mortgage

How to apply

Bank of England base rate

Find out more about the Bank of England base rate

Bank of England base rate

Money worries

If you are concerned about keeping up with your repayments call us on 0345 002 1128

Find out more if you have money worries