Offset mortgages

Offset mortgages

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.

You can save a copy of our tariff of mortgage charges and read our important legal information.

Are you a Premier customer? See our exclusive mortgage range.

Already have a mortgage with us? If you’re looking to switch, you can take advantage of our exclusive rates for mortgage customers.

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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.

Offset mortgage calculator

See how much you could save

Use our offset mortgage calculator to see how your savings could reduce your mortgage term or monthly payments.

Agreement in Principle (AiP)

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. 

Mortgage appointment

How to prepare

Find out which documents you’ll need and what you’ll discuss with our mortgage adviser at your appointment.

Need some help?

Talk to us online

Start a web chat if you’d like to ask us a question online.

Call us

Call us1 today on 0800 197 1081. Lines are open all day, every day, except on bank holidays and during Christmas, when they may be closed at off-peak times.

Fixed-rate mortgages

A rate that won’t change for a set time

Choosing a fixed rate mortgage means you won’t be affected if interest rates go up or down for a set number of years.

Tracker mortgage

A flexible mortgage that follows the market

A tracker mortgage doesn’t tie you down to a fixed rate, so your payments could go up or down.

Family Springboard Mortgage

Buy your home without a borrower deposit

Buy a home without a borrower deposit if your family or loved ones can provide 10% of the property’s price as security.