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.
Your home may be repossessed if you do not keep up repayments on your mortgage
|Offset Barclays loyalty**||2.79% (BBBR + 2.29%) variable for 2 years||Reverting to BBBR+ 3.39%, currently 3.89% variable for the remaining term of the mortgage *||3.9% APR||£749||75% (max) of the value of your home||1% of the original balance upon full redemption for 2 years|
|Lifetime Offset Tracker||3.19% (BBBR + 2.69%) variable for the term *||N/A||3.6% APR||£1499||75% (max) of the value of your home||1% of the original balance upon full redemption for 3 years|
|2 Year Offset||2.79% (BBBR + 2.29%) variable for 2 years||Reverting to BBBR + 3.39%, currently 3.89% variable for the remaining term *||3.9% APR||£1499||75% (max) of the value of your home||1% of the original balance upon full redemption for 2 years|
|2 Year Offset||2.49% (BBBR + 1.99%) variable for 2 years||BBBR + 3.39%, currently 3.89% variable for the remaining term of the mortgage *||3.7% APR||£1999||65% (max) of the value of your home (Min loan £500,000, max loan £2m)||1% of the original balance upon full redemption for 2 years|
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
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.
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.
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 678 9998 1
Discuss and apply in branch