Put your savings to work with an offset mortgage
Linking your savings accounts to an offset mortgage could make your money work harder by reducing the mortgage balance you pay interest on.
Your home may be repossessed if you do not keep up repayments on your mortgage.
How it works
Link your savings to your mortgage
An offset mortgage links your current and savings account balances to your mortgage in order to reduce the mortgage balance you’re charged interest on. So, if your mortgage balance is £125,000 and you have £25,000 in your linked current and savings accounts, we’d calculate your monthly mortgage interest on £100,000 instead of the full mortgage balance of £125,000.
You can use the offset savings in one of 2 ways.
Reduce your mortgage payments
The interest you save in one month by offsetting could reduce your mortgage payment the following month.
Reduce your mortgage term
Keep your monthly mortgage payments the same and pay off your mortgage sooner.
Is it right for you?
An offset mortgage could be right for you if you
- Have savings in a Barclays current or savings account, or Cash ISA
- Want the opportunity to pay off your mortgage earlier
- Are 18 years or older
How much could you save?
Use our offset mortgage calculator to see how your savings could reduce your mortgage term or your monthly payments.
Our current rates
This table shows what the initial interest rate will be, as well as the follow-on rate, the amount you can borrow and any application and early repayment charges. You can sort any of the columns by selecting the column title.
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How to apply
Once you’ve worked out how much you could borrow, complete an Agreement in Principle (AiP) to find out whether we’d be able to lend the amount you need – without affecting your credit score. If we can, the next step is to make an appointment with an adviser to choose the mortgage you want to apply for.
Work out your mortgage budget
See how much you could borrow and work out what your monthly payments might be with our mortgage calculators.
Mortgage Agreement in Principle
Take the first step to your mortgage with an AiP
Start an Agreement in Principle (AiP) online to find out quickly if you could borrow the amount you need – without affecting your credit score. See 'How will the information I provide be used?' below, for more details.
- Find out quickly if we're able to lend to you without a full credit check
- Don't bank with us? No problem – you can still get an AiP
Your mortgage appointment
How to prepare for your discussion
Find out which documents you'll need, get a preview of what we’ll discuss with you and discover what happens after your appointment.
Need some help?
Talk to us online
Start a web chat if you’d like to ask us a question online.
Call us1 today. Lines are open all day, every day – except during the Christmas period, when they may be closed at off-peak times.
0800 197 1081
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