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Offset mortgage calculator

This calculator provides you with a quick illustration of how an offset mortgage could help save you money and reduce the interest you pay on your mortgage balance.

Please note that this calculator does not provide a quote. It is for illustration purposes only. This information does not contain all of the details you need to choose a mortgage. Find out more information about the assumptions taken into consideration to calculate a result.


1. The rates shown in this tool are for illustration purposes. The Woolwich Offset rates currently available to you will be based on the ratio of borrowing against your property value. Other product restrictions may apply and mortgages are subject to personal circumstances.


2. The mortgage is a repayment mortgage. The tool should not be used for calculations relating to an interest only or part and part mortgage.


3. Where you provide an interest rate, we'll assume this interest rate applies for the mortgage term.


4. Any application fees or associated costs are not included in the interest calculation and are therefore not included in this illustration.


5. We will assume that the benefit of any savings and/or current account balances will start from the 1st of the month and we will assume that there are 12 months in a year.


6. We will assume that all of your savings balances earn the rate of interest stated, including Cash ISAs, and interest is calculated and applied annually over the duration of the illustration.


7. You pay all your mortgage payments on time and your current account never goes overdrawn.


8. You do not borrow any more money against your property during the mortgage term


9. We will assume that no overpayments to the mortgage capital are made, however overpayments are possible, subject to product criteria.


10. We will assume that you pay 40% tax. This is the assumed rate for all savings, including Cash ISAs, and in force for the duration of the mortgage.


11. We will assume that any Barclays current account balance entered would receive 0% interest if not linked to your offset mortgage.


12. We will assume that your existing Barclays savings, regular monthly savings and further additional income savings receive the average savings interest rate you input, if not linked to your offset mortgage. When offsetting, savings balances do not earn credit interest.


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


Applications are subject to standard lending criteria and all loans are subject to status.

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


Offset mortgages come in both repayment and interest-only options. Find out how much you could save by using our Offset mortgage calculator

Important information
1. Lines are open Monday to Friday 8am-9pm, Saturday 9am-8pm and Sunday 10am-4pm. To maintain a quality service, we may monitor or record phone calls. Call charges

Barclays Bank PLC. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 122702). Barclays Bank PLC subscribes to the Lending Code which is monitored and enforced by the Lending Standards Board. Further details can be found at Barclays Insurance Services Company Limited is authorised and regulated by the Financial Conduct Authority (Financial Services Register number: 312078).

Barclays Bank PLC. Registered in England. Registered no. 1026167. Barclays Insurance Services Company Limited. Registered in England. Registered no. 973765. Registered office for both: 1 Churchill Place, London E14 5HP. ‘The Woolwich’ and ‘Woolwich’ are trademarks and trading names of Barclays Bank PLC. Barclays Business is a trading name of Barclays Bank PLC.


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