Mortgage Charter support

No. The Mortgage Charter has been designed to help you reduce your outgoings and we won’t report it negatively to credit reference agencies.

If you’ve switched to interest-only payments, you’ll automatically go back to your original mortgage payment plan and your monthly payments will increase to a higher level than before you switched to interest-only. This is because you’re paying back the same balance over a reduced period of time, so use our mortgage support calculator to make sure you can afford this before deciding on this option.

If you’ve extended your mortgage term, you can:

• Return to your original term. You’ll need to let us know you want to do this within six months of changing your term. As you've made lower payments with charter support, your monthly payments under the original term will be higher than before you extended your term
• Keep the extended term
• Partially revise the term so it’s between your original and extended term – for example, if you extended from 10 to 20 years, you could change it to 15 years instead.

To make any further changes after six months, you’ll need to go through the normal mortgage application process, which is subject to our affordability and lending criteria and credit checks.

If your Mortgage Charter support ends soon, see our End of Mortgage Charter support page for guidance on what happens next.

Yes, you can make changes to your mortgage as normal during the support period.

Yes, you can still apply to switch to interest-only payments. If we approve your mortgage charter application, the temporary change to interest-only payments will start from the month after you apply or the following month if your next payment is due within 14 days.  

The mortgage information sheet for your Mortgage Charter support won’t show any rate switches you’ve applied for that haven’t taken effect yet. If your new rate is due to take effect in the next six months, we'll write to you at least 14 days before that to let you know your revised payment for the rest of the interest-only period.  

Yes, although before you do, you might be able to use your overpayment balance to make underpayments, which could be more cost effective than reducing your payments through the Mortgage Charter. You can check whether you have the option to set up an underpayment in Online Banking, under ‘Mortgage management’. If you can’t see this option, call us on 0333 202 7580. We’re here Monday to Friday, from 7am to 8pm, and from 7am to 5pm at weekends (excluding bank holidays).

Yes, you can.

For interest-only payments: Any illustrations or documents provided as part of the rate switch application will assume your mortgage is interest-only for the rest of its term, but this isn’t the case, and the documents provided are for illustration purposes only.

Your mortgage will go back to the original payment type at the end of the six month support period which means your payments will be higher than shown on the illustrations.

To understand how your new rate will affect your payment after the support ends, you can visit barclays.co.uk/mortgages/mortgage-calculator/interest-rate-calculator and use our rate switch calculator.

Yes.