Offset mortgages

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

Overview

Designed to offer you control over your finances, our award-winning offset mortgages give you flexibility when you need it.

Offsetting the interest you earn on your savings against the interest you owe can make great financial sense.

You can offset your mortgage against a number of Barclays accounts – including current accounts, savings accounts and even cash ISAs – whether your aim is to reduce your monthly outgoings or pay off your mortgage earlier. The choice is yours.

  • Flexibility – overpay additional sums on top of your contractual monthly payments 2
     
  • Accessibility – after you’ve linked an account, you’ll still be able to access your money in the same way
     
  • Freedom – choose to shorten the length of your mortgage or reduce your outgoings
     
  • Choice – link as many as 12 eligible Barclays accounts to your mortgage
     
  • Convenience – manage your mortgage online

Rates

Product Initial interest rate Follow on interest rate The overall cost for comparison is Application fee How much could I borrow? Early repayment charge
2 Year Offset 2.49% (BBBR + 1.99%) variable for 2 years Reverting to BBBR + 3.99%, currently 3.49% variable for the remaining term * 3.7% APR £1499 75% (max) of the value of your home N/A
2 Year Offset 1.99% (BBBR + 1.49%) variable for 2 years BBBR + 3.49%, currently 3.99% variable for the remaining term of the mortgage * 3.9% APR £1999 65% (max) of the value of your home (Min loan £500,000, max loan £2m) N/A
Offset Tracker 2.99% (BBBR + 2.49%) variable for the term* N/A 3.1% APR £1,499 75% (max) of the value of your home N/A

 

Legal information

A written personalised Key Facts Illustration is available from any Barclays branch or from our dedicated mortgage call centre on 0800 197 1058 1.

Features of our flexible mortgage products:

  • No Higher Lending Charge
     
  • Applications are subject to status and a minimum age of 18
     
  • Mortgages are subject to valuation
     
  • All flexible mortgages require a Barclays Mortgage Current Account
     
  • A first charge over your property is required
     
  • You are strongly recommended to have life assurance in place to cover the full amount of all sums that you may borrow from us under the facility
     
  • Our mortgages are available on an interest-only or repayment basis. For an interest-only mortgage, it is your responsibility to ensure that you have sufficient funds to repay the mortgage at the end of its term
     
  • Woolwich mortgages must normally be repaid by the time you retire or reach the age of 70 years, whichever is sooner, and are not available for business purposes
     
  • We are a responsible lender and, when considering your application for borrowing, we will appraise your financial circumstances. And remember, if you should run into difficulty, please contact us immediately

 

Tariff of charges

To see our tariff of charges, please read the document 3 below.

Download our tariff of charges 270 KB

Alternatively, you can get our tariff of charges in Braille, large print or audio tape/CD by calling 0800 400 100 4 (via Text Direct if appropriate).

Watch our videos to find out if it’s the right option for you.

 

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Bank with Barclays

If you take out a Barclays Offset Mortgage, this includes a Barclays savings or current account which will link with your mortgage. You can manage your accounts online, over the phone or in branch and we have a wide range of accounts to suit all tastes. If you're switching your current account, we can take care of all the fiddly bits, at no extra cost.

Important information
1. 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
2. Early repayment charges may apply if you pay off your mortgage earlier than originally agreed.
3. To maintain a quality service, we may monitor and record phone calls. Calls to 0800 numbers are free when calling from a UK landline. Charges may apply when using a mobile phone or when calling from abroad. Call charges
4. To view Adobe® (PDF) files you will need Adobe® Reader®, available from Adobe Systems Incorporated. Adobe® and Reader® are the registered trademarks of Adobe Systems Incorporated in the United States and/or other countries. For more information on accessibility please see the Adobe Accessibility   site.
* BBBR = Barclays Bank Base Rate which is currently 0.50% (effective 6 March 2009).
** Subject to status and availability. To qualify for Barclays loyalty mortgages, customers must have an open and active Barclays Personal current account that has been credited with a minimum of £800 in each of the last three months. Customers must be 18 years or over to apply for a mortgage.