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Barclays 2 Year Fixed Mortgage 1.21% With £999 Fee
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Barclays 2 Year Fixed Mortgage 1.21% With £999 Fee

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Posted 10th Jan

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Barclays mortgage rate today is 1.21% fixed for 2 years with an fee of £999
60% LTV

Early repayment charge 2%
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Our expert advisers will help you choose from a range of mortgage types to suit your needs. From fixed rates that give you the confidence to plan your monthly budget to offset mortgages that put your savings to work by reducing the balance you pay interest on. You can even choose to have your mortgage appointment at a branch or by phone.

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You can find out whether we could lend the amount you need in minutes with an online Agreement in Principle – without affecting your credit score. Once your remortgage is complete, you can manage your mortgage online and through our app. And you could earn a reward for having your mortgage with us if you join Barclays Blue Rewards.
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Top comments
£999 fee for a 2 year mortgage 🤪
Crazy,Crazy,Crazy......The astronomical fee helps them to have a “low” rate to make it look appealing,the low rate is offset by the fee.....have some cold chief
Locoblade’s Excel Mortgage Spreadsheet is the best comparison I have found
locostfireblade.co.uk/spr…tml
There are no online ones that i have found that do everything I want.

Normally i just compare capital remaining after the fix period vs total payments over this period. Then play around with overpayments

For me santander beat any other 5 year fix. Due to the cashback, lower rate and my big mortgage.

You will find fee free can look cheaper taking the sum of payments made over the fix in isolation. However with lower rates you pay off more capital over the fix, often more than offsetting the difference in payments (including fees)
Edited by: "Mars104" 10th Jan
The fee free deals with ahigher rate often work out cheaper.
Stoofa10/01/2020 19:06

Indeed - scary number of people look at interest rate only. I locked in …Indeed - scary number of people look at interest rate only. I locked in for 7years middle of last year, better overall deal with zero fees and slightly higher interest rates.


You sound like you’re trying to defend your regretful decision
Edited by: "Russonf" 11th Jan
158 Comments
Excellent, thanks.
What's their 5yr fixed at?
Avatar
deleted2385492
EddieCalimocho10/01/2020 18:27

What's their 5yr fixed at?


1.54%

Santander or Virgin money would be better for 5 years ... at 1.49% (and santander has cashback)
Edited by: "deleted2385492" 10th Jan
deleted238549210/01/2020 18:36

1.54%Santander or Virgin money would be better for 5 years ... at 1.49% …1.54%Santander or Virgin money would be better for 5 years ... at 1.49% (and santander has cashback)


santander do a 5yr at 1.39% with £1499 fees and cashback with 123. first direct do 5yr 1.49% with £490 fees

hotukdeals.com/dea…226

hotukdeals.com/dea…694
Edited by: "Mars104" 10th Jan
The fee free deals with ahigher rate often work out cheaper.
golfyboy10/01/2020 19:02

The fee free deals with ahigher rate often work out cheaper.


Indeed - scary number of people look at interest rate only. I locked in for 7years middle of last year, better overall deal with zero fees and slightly higher interest rates.
Stoofa10/01/2020 19:06

Indeed - scary number of people look at interest rate only. I locked in …Indeed - scary number of people look at interest rate only. I locked in for 7years middle of last year, better overall deal with zero fees and slightly higher interest rates.


You sound like you’re trying to defend your regretful decision
Edited by: "Russonf" 11th Jan
I’m with Barclays.. they don’t really reward existing customers. However, it can be a hassle moving to another provider?
£999 fee for a 2 year mortgage 🤪
Crazy,Crazy,Crazy......The astronomical fee helps them to have a “low” rate to make it look appealing,the low rate is offset by the fee.....have some cold chief
golfyboy10/01/2020 19:02

The fee free deals with ahigher rate often work out cheaper.


I believe those deals with fees are better than those without, I'm talking 5yr fixed fwiw
golfyboy10/01/2020 19:02

The fee free deals with ahigher rate often work out cheaper.


I guess it depends on the size of your mortgage. If its a small mortgage it probably would.
Heat...
I wish Halifax did the same
Edited by: "ansarch" 10th Jan
Barclays are quite good when it comes to remortgaging. They send you a letter when your term is nearly up with login details to their remortgaging site. You simply login and choose one of their current deals and go through the screens. No paperwork. Obviously only if you are comfortable doing that yourself and working out which one is best. Done this 3 times now, on 2 yr deals fee free at around 1.79% each time. In my case I can't warrant paying a fee but for others this might save them money overall.
Rough rule of thumb is a mortgage less than £150k the fee free deals work out better especially for 2 year and never add the fee to your mortgage if you do want to pay it.
Russonf10/01/2020 19:14

You sound like you’re trying to defend your regret decision


Why would I regret doing my homework and saving money by paying a higher rate of interest and no fees? Very odd statement. I regret saving money?
trannyboy10/01/2020 21:02

Rough rule of thumb is a mortgage less than £150k the fee free deals work …Rough rule of thumb is a mortgage less than £150k the fee free deals work out better especially for 2 year and never add the fee to your mortgage if you do want to pay it.


interesting. I've got 160k left to pay and at the end of current mortgage. im already with Barclays so will probably stay with them.

but I noticed the same 2 year deal above at 1.21% with £999 fee, goes up to 1.95% without the fee !!!??

to put this in perspective Barclays also offering a 5 year deal for 1.89% WITHOUT A FEE!!

how can they charge a higher interest rate for 2 year deal, than 5 year deal, both without fees!

im not sure what to go for. 5 year or not?
Edited by: "jddavis" 10th Jan
Locoblade’s Excel Mortgage Spreadsheet is the best comparison I have found
locostfireblade.co.uk/spr…tml
There are no online ones that i have found that do everything I want.

Normally i just compare capital remaining after the fix period vs total payments over this period. Then play around with overpayments

For me santander beat any other 5 year fix. Due to the cashback, lower rate and my big mortgage.

You will find fee free can look cheaper taking the sum of payments made over the fix in isolation. However with lower rates you pay off more capital over the fix, often more than offsetting the difference in payments (including fees)
Edited by: "Mars104" 10th Jan
Avatar
deleted2385492
Mars10410/01/2020 21:35

Locoblade’s Excel Mortgage Spreadsheet is the best comparison I have f …Locoblade’s Excel Mortgage Spreadsheet is the best comparison I have foundhttp://www.locostfireblade.co.uk/spreadsheet/Index.htmlThere are no online ones that i have found that do everything I want. Normally i just compare capital remaining after the fix period vs total payments over this period. Then play around with overpaymentsFor me santander beat any other 5 year fix. Due to the cashback, lower rate and my big mortgage.You will find fee free can look cheaper taking the sum of payments made over the fix in isolation. However with lower rates you pay off more capital over the fix, often more than offsetting the difference in payments (including fees)


this is great ! thanks ...
E.g. £100,000, 20 years would cost £460 per month on above.
You could go free fee upto 1.89%. And still the listed deal is more expensive.

HSBC.are doing 1.64 fee free
Edited by: "Showusyourmoney" 10th Jan
ansarch10/01/2020 20:14

Heat...I wish Halifax did the same


Me too. My Halifax fixed rate up this month and their products on offer are no where near competitive. For ease I would have happily stayed with them if it worked out a few quid more that what else was out there but the difference is huge to what others are offering
Showusyourmoney10/01/2020 22:00

E.g. £100,000, 20 years would cost £460 per month on above.You could go f …E.g. £100,000, 20 years would cost £460 per month on above.You could go free fee upto 1.89%. And still the listed deal is more expensive. HSBC.are doing 1.64 fee free


How much capital have you paid off on the hsbc vs the barclays plus fees in the deal period? With £999 fee on 100k hsbc could be better
Edited by: "Mars104" 10th Jan
dreamer18110/01/2020 19:15

I’m with Barclays.. they don’t really reward existing customers. However, i …I’m with Barclays.. they don’t really reward existing customers. However, it can be a hassle moving to another provider?


They have some really good reward range products for customers at the end of their mortgage product. Often products are priced cheaper than what new customers would get
If only i had enough money to get a mortgage.....
I had two options a fee free at 1.79 or a £999 fee at 1.29 for 2 year fixed.

I used a calculator online that showed the one with the fee worked out £400 more expensive over the 2 years.

Use one of the calculators before you decide.
kerrvin12310/01/2020 22:03

Me too. My Halifax fixed rate up this month and their products on offer … Me too. My Halifax fixed rate up this month and their products on offer are no where near competitive. For ease I would have happily stayed with them if it worked out a few quid more that what else was out there but the difference is huge to what others are offering


I am paying £100 a month more now coz I couldn’t switch to another provider due to recent job loss
If you can then switch provider.
ansarch11/01/2020 04:31

I am paying £100 a month more now coz I couldn’t switch to another pr …I am paying £100 a month more now coz I couldn’t switch to another provider due to recent job loss If you can then switch provider.


I’m in a similar situation, would rather leave Halifax as their rates aren’t as competitive but going through a transfer of equity which is making it more complicated to switch to another lender. There are so many better deals out there if you can switch
Stoofa10/01/2020 21:04

Why would I regret doing my homework and saving money by paying a higher …Why would I regret doing my homework and saving money by paying a higher rate of interest and no fees? Very odd statement. I regret saving money?


there is no chance on God's green Earth that you have saved money on a 7 year deal over a 2 or 5 year. The rates on a 7 year are too high
Excellent rate however very high fee. Defo would only make sense for people with a large mortgage. Im sure like alot of others on here I took up the 1.09% atom mortgage that came on the site so this is ending in a few weeks. Thankfully we are moving to a 5yr YBS offset which if anyone can afford to offset is a no brainer. Rate is 1.89% for 5yr. But with the amount we are offsetting its effectively 0.75% for us.
Edited by: "satty83" 11th Jan
Top tip: Yorkshire Building Society are offering a 2 year fixed with no fees at 1.77%. £300 cashback AND all legal fees included (worth around £300-£500) Worked out cheaper for me to go with YBS than HSBC etc etc who offer a lower rate but don't include legals.
£999 fee then low interest hmm, nicely deceiving isn’t it.
golfyboy10/01/2020 19:02

The fee free deals with ahigher rate often work out cheaper.


That very much depends upon the amount of money involved.
Mars10410/01/2020 21:35

Locoblade’s Excel Mortgage Spreadsheet is the best comparison I have f …Locoblade’s Excel Mortgage Spreadsheet is the best comparison I have foundhttp://www.locostfireblade.co.uk/spreadsheet/Index.htmlThere are no online ones that i have found that do everything I want. Normally i just compare capital remaining after the fix period vs total payments over this period. Then play around with overpaymentsFor me santander beat any other 5 year fix. Due to the cashback, lower rate and my big mortgage.You will find fee free can look cheaper taking the sum of payments made over the fix in isolation. However with lower rates you pay off more capital over the fix, often more than offsetting the difference in payments (including fees)


Does this spreadsheet not work on mobiles?
I have a Santander mortgage. Potentially silly question here ... But can anyone see any reason why I wouldn't be able to remortgage to another Santander product?
dreamer18110/01/2020 19:15

I’m with Barclays.. they don’t really reward existing customers. However, i …I’m with Barclays.. they don’t really reward existing customers. However, it can be a hassle moving to another provider?


You should get any current deal new customers would have access to excluding "Great escape" products. They also offer some rate switch exclusives. The only reason you wouldn't access this would be if their internal valuation had your property value lower than you'd expect and therefore your loan to value would be higher than the 60% of this product.
Mars10410/01/2020 21:35

Locoblade’s Excel Mortgage Spreadsheet is the best comparison I have f …Locoblade’s Excel Mortgage Spreadsheet is the best comparison I have foundhttp://www.locostfireblade.co.uk/spreadsheet/Index.htmlThere are no online ones that i have found that do everything I want. Normally i just compare capital remaining after the fix period vs total payments over this period. Then play around with overpaymentsFor me santander beat any other 5 year fix. Due to the cashback, lower rate and my big mortgage.You will find fee free can look cheaper taking the sum of payments made over the fix in isolation. However with lower rates you pay off more capital over the fix, often more than offsetting the difference in payments (including fees)


Excellent comments.

I do exactly the same. As you mention, always look at the capital outstanding at the end of your fix and compare.

Also do remember that if you fix for longer you don't have the fee to pay again and again as you would on the shorter term fixes, thus negating the lower rate.
Russonf11/01/2020 08:03

there is no chance on God's green Earth that you have saved money on a 7 …there is no chance on God's green Earth that you have saved money on a 7 year deal over a 2 or 5 year. The rates on a 7 year are too high


Stupid comment. Saved money compared to what?

How do you know the posters circumstances? They could have saved compared to their previous mortgage.

Longer term fixes, although on face value look more expensive aren't necessarily the case and have many advantages over shorter term, slightly lower rates.
Bash_er11/01/2020 12:40

Stupid comment. Saved money compared to what?How do you know the posters …Stupid comment. Saved money compared to what?How do you know the posters circumstances? They could have saved compared to their previous mortgage.Longer term fixes, although on face value look more expensive aren't necessarily the case and have many advantages over shorter term, slightly lower rates.



Stoofa10/01/2020 19:06

Indeed - scary number of people look at interest rate only. I locked in …Indeed - scary number of people look at interest rate only. I locked in for 7years middle of last year, better overall deal with zero fees and slightly higher interest rates.


speaking of stupid comments
Russonf11/01/2020 12:43

speaking of stupid comments


So what happens if interests rates increase over the next few years whilst Stoofa is sitting happily on their long term fix?
Russonf11/01/2020 08:03

there is no chance on God's green Earth that you have saved money on a 7 …there is no chance on God's green Earth that you have saved money on a 7 year deal over a 2 or 5 year. The rates on a 7 year are too high


That is not what I'm saying. I saved money by not paying any fees on my mortgage. At no point did I claim to have saved money on my actual mortgage over "an other" one. If my decision to lock in for 7 years was the right decision will be clear in 5 years time won't it.
golfyboy10/01/2020 19:02

The fee free deals with ahigher rate often work out cheaper.


There's no often rule - everyone needs to use a calculator to work out total cost over the fix term to see which is lower (MSE has a good calculator for this purpose when you search for mortgage best buys)
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