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Offset mortgages

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Get more from your money

Why not take advantage of your savings? An offset mortgage could be a great way of using what’s in your savings and current accounts to reduce the outstanding mortgage balance you're charged interest on.

By offsetting, you could reduce your mortgage term or your monthly mortgage repayments and still keep instant access to your savings. You won’t pay tax on your savings, as they won’t be earning interest.

Find out more

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

Rates

Offset Barclays loyalty** 3.29% (BBBR + 2.79%) variable until 30 June '15 Reverting to BBBR+ 3.39%, currently 3.89% variable for the remaining term of the mortgage* 3.9% APR £749 70% (max) of the value of your home 1% of the original balance upon full redemption until 30 June '15
Lifetime Offset Tracker 3.69% (BBBR + 3.19%) variable for the term*  N/A 3.9% APR £1499 70% (max) of the value of your home 1% of the original balance upon full redemption until 30 June '16
2 Year Offset 3.29% (BBBR + 2.79%) variable until 30 June '15 Reverting to BBBR+ 3.39%, currently 3.89% variable for the remaining term* 4.0% APR £1499 70% (max) of the value of your home 1% of the original balance upon full redemption until 30 June '15

 

View all available rates

 

What you get

Our offset mortgages are designed to help you get more from your money. You can link your Barclays current accounts, savings and ISAs to your mortgage, offsetting the amount of interest you save against the amount you owe.

  • Only pay interest on the difference between your mortgage amount and the balances in your offset current, savings and ISA accounts
  • Use the offset benefit to reduce your monthly repayments or the term of your mortgage. Please note that we default to reduced term, which you can change at a later date
  • Manage your mortgage online and make transfers when it suits you
  • Offset up to 12 eligible Barclays accounts for your different savings needs and use them all to reduce your mortgage payments
  • Overpay as much as you like, whenever you are able. Early repayment charges may apply on full redemption of your mortgage
  • Keep instant access to your savings and your historical tax-free ISA allowances
  • Even though your current and savings accounts don't earn interest, they do reduce what you pay on your mortgage. You won't pay tax on your savings because it's not earning any interest
  • Barclays loyalty mortgages – Our current account customers can get better mortgage deals – subject to status and availability 2

Legal information

A written personalised Key Facts Illustration is available from any Barclays branch or from our dedicated mortgage call centre on 0845 678 9998 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 210 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).

Your guide to offset mortgages

Our short videos show how an offset mortgage works and how it could help reduce your monthly payments or your mortgage term. We've also got a quick and easy tool so you can check how much you could save. This is for illustration purposes only and does not constitute a mortgage quote.

 

Find out more

Offset could be good for you if:

  • You have a healthy savings balance
  • You want the opportunity to pay off your mortgage earlier

Look at other options if:

  • You don't have any savings

Ready to apply?

To find out more about our offset mortgages, visit a branch or call:
 

0845 070 4427 1

Take a look at our other mortgage options

Buy to Let mortgages – specially designed tracker and fixed rate deals

Important information
1. 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. Where a minimum income is required the principal applicant must provide evidence of a gross annual income of £20,000, increasing to £50,000 where you wish to have aggregate Buy to Let mortgages with us in excess of £2 million.
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. Read our call charges and information
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.

Mortgages

Ready to apply?

To find out more about our mortgages, call:
 

0845 070 4427 1

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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 and is licensed and regulated by the Office of Fair Trading for the provision of credit products to consumers and related services. Further details can be found at www.lendingstandardsboard.org.uk. 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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