Mortgage Repayment
These are great times to be an existing Woolwich mortgage customer.
Mortgage interest rates have fallen and many Woolwich customers on tracker and standard variable rate mortgages are currently benefiting from reduced monthly mortgage payments.
Here are some ideas to help make the most of the money that you will save from your lower mortgage payments.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Overpay your mortgage
You can help to reduce the amount of interest you will pay over the life of your mortgage by paying a little extra each month 3. The easiest way is set up a standing order for the additional amount that you want to pay each month from your bank account. Want to know more? Please see below.
Alternatively many of our mortgages allow you to make lump sum repayments, without any Early Repayment Charge 3.
How do I work out the account number and sort code to make a lump sum or standing order payment to my mortgage?
Just follow the simple steps below:
Step 1
Find your account number on your statement - it should start with a '9' and be 10-digits long
Step 2
The sort code is 23-88-(first two numbers of your account number)
Step 3
The last 8 numbers in your mortgage account number make the payment account number
Example
Mortgage Account number
9876543210
Sort code
23-88-98
Account number
75643210
Reduce your mortgage reserve
If you have a mortgage reserve, paying more off your mortgage reserve each month will reduce the amount of interest you pay, again saving you money in the long run. You can do this by setting up a standing order from your bank account using your reserve account number and sort code.
Make a switch
By moving from interest-only payments to capital and interest payments you can reduce your outstanding mortgage balance as you make your monthly repayments and have more certainty about paying it off. You can switch some or all of your mortgage balance in this way. Please be aware that you will be unable to change your capital and interest payments back to interest only.
If you need further information about the options above then please call us on 0800 022 4022 2
Save some money for the future
By saving some of the money you’re no longer using for your mortgage payments, you can help ensure that you’re prepared for anything the future brings. Whether you would like to save for your next big holiday or just put aside some cash, we have a range of accounts to help you save. Find out more about our savings accounts range.
Need some help?
If you would like some help deciding which account may be best for you, you can use our Savings chooser or visit our Savings guide .
For more savings information, please pop into your nearest branch or call us directly on 08457 555 555 4.
Our commitment to you
We are committed to giving you genuine value and flexibility as long as you have a Woolwich mortgage, we offer existing customers exactly the same rates as new customers. If you are thinking about protecting yourself from future rate increases, for a set period, we can let you know about our latest fixed rates.
To find out more, please call us on 0845 070 4477 1 or visit your local Barclays branch
1. Lines are open Monday to Friday 9am-8pm and Saturday 9am-2pm. To maintain a quality service, we may monitor or record phone calls. Read our call charges and information
2. Lines are open Monday to Friday 8.30am-5.30pm. To maintain a quality service, we may monitor or record phone calls. Read our call charges and information
3. Please check your mortgage offer regarding Early Repayments Charges or call us if you're unsure.
4. Lines are open Monday to Sunday 7am-11pm. To maintain a quality service, we may monitor or record phone calls. Read our call charges and information