01
Two payments, one balance
Same outstanding debt and remaining term. Only the TIN changes — a like-for-like comparison.
Calculators
Remortgage calculator: does switching banks pay off?
Enter outstanding balance, years left, current TIN and the new offer TIN. See the payment gap, interest saved and how many months to recover switching costs.
Indicative Law 5/2019 cap: 0.00 % → €0
Valuation + notary/registry/admin (indicative).
Indicative only. Not a binding offer. French system (Banco de España).
Result
Current payment
€1,017
New payment
€896
Monthly saving
+€121/mes
- Interest saved
- €31,853
- Switching costs
- €1,200
- Net saving
- €30,653
- Break-even
- 10 months
On these figures, switching tends to pay off.
Indicative only. Not a binding offer. Exit fees depend on your deed and Law 5/2019 (never above the lender’s financial loss). APR/TAE appears on the FEIN.
Method
How we judge if remortgaging pays off
Both payments use the French system (Banco de España assumptions). Interest saved is the gap in total interest for the same balance and term. We subtract exit fee + typical valuation/notary/admin costs. Break-even is months of payment savings needed to cover those costs.
- 02
Switching costs
Exit compensation from your contract (with indicative legal caps) plus valuation, notary, registry and admin fees typical of a Spanish creditor switch.
- 03
Break-even
Months = switching costs ÷ monthly payment saving. If that horizon is longer than you’ll stay, the “saving” may not be worth it.
Worked example
€180,000 outstanding, 22 years left, current TIN 3.9% → offer 2.6%. No exit fee and €1,200 switching costs.
- Current payment
- €1,017/mes
- New payment
- €896/mes
- Monthly saving
- €121
- Break-even
- 10 months
Indicative net saving: €30,653 · Interest saved: €31,853
Remortgage FAQ
Switching-bank questions. Answers with numbers.
Novation vs remortgage, exit fees, break-even and what this calculator leaves out. If your deed doesn’t fit a FAQ, we review it in the case study.
No. Novation renegotiates with your current bank. Subrogación switches the creditor. This tool models moving to another lender with the balance and term you enter. Sometimes a strong novation is enough and saves part of the process.
Next step
Send us your current mortgage. We’ll say if switching pays.
Outstanding balance, rate and payment. We compare with documented offers from 20+ banks and return net savings — not just the pretty payment on an advert. Written fee quote before we start.
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