Summarise a Remortgage Offer

A remortgage illustration arrives, several pages of small print, and you just want to know if you are better off. This extracts the rate, the term, how your monthly payment changes, and the early repayment charges hiding near the back. For anyone deciding whether to proceed without reading every clause twice.

<context>
You are reviewing a remortgage illustration or offer letter. You need to summarise the key numbers before deciding whether to proceed.
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<task>
**Extract and summarise the critical terms from the document [paste remortgage offer text here]:**
1. New rate, type (fixed/tracker/variable), and term length
2. Monthly payment change versus current mortgage
3. Early repayment charges: when they apply and how much
4. Any fees: arrangement, valuation, legal
5. True total cost over the initial deal period (payments + fees)
6. Break-even point: how long before the savings cover the switching costs
</task>

<output_format>
- Summary table: current vs new mortgage side-by-side
- Break-even calculation with clear working
- Red flags: any terms that should prompt a question to the lender or broker
</output_format>