Barclays Bank Deals

Barclays Bank Deals & Offers

41 hot deals

All Barclays Bank Deals, Discounts & Sales for August 2020

10 Year Fixed Rate Mortgage - 1.99% (£999 Fee) or 2.12% without Fees - 60% LTV @ Barclays
Posted 1st AugPosted 1st Aug
Has to got to be one of the best deals around - unusual to see 10 year fixed for less than 2% - if you are looking to remortgage or take a new one - this could work nicely provided… Read more
Get deal*Get deal*

yeah - thats a fair point.


David, sorry, is it my naivety or Barclays that you LOL at?


Hi guys, could someone please give me some advice on the following. My mortgage is currently with Barclays. It expires 30/09/20. My house is worth £685,000. I have £214,000 remaining over 23 years. So my LTV is 31%. I spoke with Barclays who said if I move from them to another lender, I'd be charged £80 exit fee. If I were to stay with Barclays on a new deal, would I be charged another fee or would they waive the fee due to me being an existing customer? I'm currently looking around for a better deal and am considering whether I should remain on fixed or move to variable. Any hints and tips welcome please :)


BE careful cost over term using payments and fees gets the wrong answers Looking at a simple example. £200k 50% LTV 25 years 5year fix MoneySuperMarket comes up with 1. 1.35% £999 £48,150 lloyds 2. 1.44% £649 £48,305 santander 3. 1.39% £999 £48,374 NW. adding the fee normalise the payment see whats left. 1. £200,999.00 1.35% £796.82 £165,595.46 2. £200,649.00 1.44% £796.82 £166,077.37 3. £200,999.00 1.39% £796.82 £165,976.31 MSM got NW being £75 more when it is £100 better it got Lloyds £150 cheaper when it is really nearly £500 cheaper.


Nice technique. Be sure to check direct only providers as well.

Barclays 5 year fixed mortgage - 1.36% - £999 booking fee - 60% LTV new / existing customers @ Barclays
Posted 15th JulPosted 15th Jul
Update 1
The 5 year fixed mortgage with a 1.36% rate (60% LTV) and £999 fee is still available for existing Barclays mortgage customers (looks to have been pulled for new customers)
Reduction on the Barclays 5 year fixed rate mortgage with a 1.36% rate and £999 booking fee (60% LTV) for new and existing mortgage customers. Also worth noting that Barclays have… Read more

I might just call them tomorrow and ask for him.


Mortgage genie are really nice people. The guy I speak to is Ash. Really friendly. Genuinely helpful.


JUst done it. Mortgage genie was a doodle. Name, number,email, submit. L&C. was a PITA! Current mortgage details. Incomings. Outgoings. Salaries. Inside leg. Outside leg. What time you go for a.......


Thanks. And will they'll tell me in advance if they're going to charge me a fee? If so, I'll complete the firm today.


Hah yes. Online and a phone call. Doesn’t take long.

Barclays 7 year fixed mortgage - 1.45% - £999 booking fee - 60% LTV (existing customers 1.45% - £749 fee - 75% LTV) @ Barclays
Posted 5th JulPosted 5th Jul
Update 1
7 year deal still available for existing mortgage customers - 1.45% rate and £749 booking fee and lower 75% LTV - credit @tommyjoey for the spot. No longer avaialble for new customers.
Further reduction on the Barclays 7 year fixed rate mortgage with a 1.45% rate and £999 booking fee (60% LTV). The cheapest 7 year mortgage that I have seen. Good for those who wan… Read more
Get deal*Get deal*

I've got a call in with a broker to determine if it is for existing customers moving home, the pdf implies that it is, but he didn't seem too sure!


nice thanks for that


Seems to be available to existing customers still, but with a lower fee and allowed a better LTV of 75%!


have expired the deal, not sure if they have pulled it or if its a temporary thing they have removed it from the website. Will keep an eye on it. Glad the deal worked out for you (y)


I have just applied for the 7 year fixed for 1.45% with a 60% LTV and paid a fee of £999. I wanted to fix a rate for 7 years rather than 5 or 10 and this was the best one out there. Yes there is a 5% ERC but I do not intend to repay early. Since my mortgage isn't due for renewal until end of the year I am holding off on the legal side until later on. My intention was that if rates drop then I can reapply for the better deal. They said there may be a £150 to do this but it can be waived. It may affect my credit score in the short term but it will recover in a few months - this is fine as I have a perfect credit score and do not intend to get any other loans or credit agreements for a while. I think it's a great deal and well worth the £999 fee. I will have paid off almost all my mortgage by the end of the 7 years, at most I will have a few years left on it in which case I will switch again for the remaining few years. HOWEVER, I was looking today just out of interest to see if the rate was still the same and they seem to have removed the 7 year fixed rate product! Seems like I got in just in time!

Barclays - 10 year fixed rate Mortgage - 1.99% - £999 fee (60%ltv)
2146° Expired
Posted 24th JunPosted 24th Jun
Edit: first time there has ever been a 10 year fixed deal below 2% in the U.K. Barclays 10 year fixed rate mortgage - 1.99%, £999 fee is set to be a market leading product, with… Read more
Get deal*Get deal*

Does anyone have information about this. I’ve looked at it but can’t find the info I need. I’m out of a mortgage deal and would like the security of a ten year deal. However I may want to let out in the future, is that an option with this deal? If not does anyone know any similar deals that allow this ? Also, what’s the time limit for the mortgage portability? My current mortgage was 3 months.


I would strongly recommend, they have access to providers which you may not have or require good amount of time and effort on your part to research a deal which suits your needs. Having a broker may also help you focusing on main issue I.e. getting the property at right price.


What some blast! (lol) (lol) (lol)


Hahaha!!!! Brilliant quip!


Hi, would seriously recommend consulting a mortgage broker. Lot of them don’t charge a penny as they get paid commission by the bank. They should also be able to suggest different options to meet your needs. No face to face meetings everything can be sorted via phone or email. I used one not very long ago and contacting them again to remortgage. Good Luck

40% off Hugo Boss Black Nylon Watch with Pingit pay technology built in £77.99 @ Barclays Bank / Ping It Store
199° Expired
Posted 18th JunPosted 18th Jun
Decent price down from £129.99 for a nice stylish watch with the added bonus of pingit pay technology built in for contactless payments. Good for clumsy kids who are prone to losin… Read more
Get deal*Get deal*

Thank you for clarifying. Very strange way to kill off a device - this isn't a phone, I don't want to replace it every 2 years.


It isn’t clear in the t’s and c’s but may be the contract between the chip company and Barclays renewed every couple of yrs so only guarantees the minimum 2 yrs but could go for more...


I was asking what the 2 year expiry is all about?


I'm only saying whats on the page in the link.


You just quoted the same T+C at me?

Barclays 7 year fixed mortgage - 1.54% - £999 booking fee - 60% LTV @ Barclays
1897° Expired
Posted 17th JunPosted 17th Jun
Update 1
Rate decreased further as of 25/06 - now 1.54% for 7 years with £999 booking fee (60% LTV)
Barclays have reduced some of their fixed mortgage rates further, including their 7 year fixed rate mortgage with a 1.54% headline rate and £999 booking fee. Whilst the headline r… Read more
Get deal*Get deal*
causerino Translate to English and have a read. That's the bank offering it. Still think it's a conventional mortgage to buy a house? Also, look at the illustration, the consumer definitely does not "win"


You CAN buy a house with it, over a 10 year term with a fixed rate of -0.5%. Pay the house off in full to benefit the most, or shop around at the end of that deal to get the remaining equity paid off. Hence why I likened it to a credit card with an introductory 0% rate. Many will pay the debts off in full to ‘win’ which is to the detriment of the lender, but they rely on the fact that many will not make the payments and they will earn their profits through fees and interest. You’re interpretation of a the deal only being legitimate if it’s when ‘buying’ a house is also warped. People remortgage a lot more than they buy houses, so someone remortgaging to that sort of deal for the final 10 years to pay off their house still gets the same benefit someone buying a house would get. You said negative rates didn’t make sense and that lenders would never do this, but you’ve been proven wrong. i have no further questions your honour.


Please read it, then look at the banks actual statement. You can't buy a house with it. It is an additional mortgage to a house purchase mortgage... it is effectively a loan.

SlashnBurn A negative base rate would mean the vast sums of money commercial banks store in central bank would begin to erode. So it stands to reason that in the event of a negative rate, commercial banks would want to mitigate that ‘loss’ by enticing more people to borrow via loans and mortgages. The Bank of England plays a crucial role as an instrument for government to influence things like inflation and prevent economic crisis. Coronavirus is the single biggest threat to house prices in modern history and Tory governments have a history of doing all that they can to prop up house prices. I think the short term availability of marginally negative mortgage rates is likely. Lower rates encourage people to borrow and spend which is critical to economic recovery.


Just because the Bank of England said they might consider a negative base rate still doesn't mean negative mortgage rate. Denmark's base rate has been negative for like 8 years or so, and last year was the first negative interest loan being offered...but with fees/taxes etc you are still paying back a good deal over the borrowed amount. You jumped on my comment to someone else saying "Google it ffs". I googled it as soon as someone mentioned there were negative interest rates in Denmark, and guess what, I couldn't find a single negative interest mortgage for buying a house. Either I'm being blind, or they don't exist. I WANT someone to prove me wrong, I have no horse in this race, just curiousity.

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Hugo Boss Nylon Black/Orange watch with Pingit contactless technology £69.99 @ Pingit
311° Expired
Posted 11th JunPosted 11th Jun
Hugo Boss Nylon Black, Orange watch Introducing stylish Hugo Boss watch with contactless technology that is powered by Pingit Featuring an oversized stainless steel case, with … Read more

Pingit is not compatible with ApplePay. I have tried to connect my card to it, but no joy. Would have been nice.


Didn't notice, but now I'm thinking "Barclays, a bank that knows 5hyt3 about numbers. No bl (annoyed) dy wonder there was a banking crisis!"


nice watch. Did anyone notice it's listed on the site as 40% off with original selling price £99.99 so it should be £60 and not £69.99, or am I missing something? tempting purchase though!


To be fair, it's the one that made me go look online


Prefer this

Hugo Boss Nylon Black watch with contactless payment £77.99 at Pingit
340° Expired
Posted 11th JunPosted 11th Jun
Similar to earlier posting but has contactless payment through pingit for those that are interested. Chips last 5 years before expiration. Introducing stylish Hugo Boss watch w… Read more

Nice spot @mwc89 thanks for sharing and welcome to hotukdeals


I have one I got last year that is removable and it expires in 2024


... "The device can be used for payments for a minimum of 2 years". ... BUT ... "If your device has a non-removable chip [which this does have], upon expiry the chip will not work for contactless payment and cannot be replaced." I wonder what the real world life expectancy of these chips actually is and whether they have an industry mandated expiry.


Or save another £8 and get this silver cased, orange hour markers version. Clever marketing move of Barclays to get Boss branded watches behind their Pingit payment system. (they've also got a few Timex, Guess watches as well as payment bands and keyfobs) Materials: Case – stainless steel, Strap – half fabric, half leather Measurements: Case width – 52mm, Case depth – 12mm, Strap width – 24mm Battery: Battery required Chip: The chip in this device is non-removable Looks like this Boss watch is only given a 6 month warranty though. "...Warranty: A faulty device can be returned within 6 months for a replacement or full refund. To return your device, you must complete the returns form and return it, along with your device by post. Note – To exchange a faulty or damaged device, it needs to be within its 6-month warranty period, which starts from the date of activation. You can also contact us without using this form, but please make sure you provide full details of your order to help us to identify it. If your device was purchased through an approved retailer please contact them directly to make arrangements."

Free Pingit Fob with code usually £7.99 @ Pingit
1717° Expired
Posted 9th JunPosted 9th Jun
Free Pingit Fob with code usually £7.99 @ Pingit
Update 1
Available again with updated code Device02
Previous used Device01 - Thanks to @watson44 for the new code!
Received an email from pingit. Free contactless device using code Device01. You can buy the other devices too and use the code it will deduct £7.99. You have to top up the device b… Read more

I found that when Barclays swapped from bPay to pingit the range on the chip reduced, some shops I need to take the card out of the holder for it to work. It wasn't store specific as Morrisons petrol station worked but it wouldn't in the store. I bought another one on this deal for my teenage son, he wanted a current account and I thought this would be a good for him to collect subs and add income but the sort code and account number isn't registered as a valid UK account for Twitch. As for going into a branch to verify your identity, I went twice before lockdown and was told I needed to make an appointment to see an account manager. I didn't bother and I top it up manually.


You can use any bank, however its run by Barclays therfore one route for CS is a Barclays branch.


Just had an email from them saying I need to go into a branch. Not what it was advertised for! It said use with any bank!


If you don't want to use the auto top up feature, you don't need to use any unlock. But if the fob doesn't work, guess it's some technical issue.


Same here, fob not working. Gonna contact them, let me know how you get on. I am restricted as can’t unlock until get to branch but thought that shouldn’t matter!

Barclays - 2 Year Fixed Mortgage 1.45% £299 Fee
501° Expired
Posted 22nd MayPosted 22nd May
Barclays - 2 Year Fixed Mortgage 1.45% £299 Fee
Good for anyone one who dont want to commit for 3-5-7 years & need to remortgage soon. Although the interest rate meant to be dropping right down imo its gonna stay down when i… Read more
Get deal*Get deal*

It’s Barclays.


Cold rip off considering current BOE rates and market conditions


Mortgage is better at low interest rates XD XD


Exactly. Need to remortgage soon otherwise will pay high interest rate.


Yes, by remortgaging while interest rates are low to secure a cheaper monthly payment.

Barclays 7 year fixed mortgage - 1.69% - £999 booking fee - 60% LTV @ Barclays
1957° Expired
Posted 22nd MayPosted 22nd May
If anyone is in same boat as me where you’re waiting for the mortgage interest rate to go below 1% but at the same time not 100% sure of the job security above 7 year deal from Bar… Read more

it has been said already but needs saying again and on nearly every mortgage deal The following in the deal header is wrong for the reasons already highlighted the amount owing at the end of the fix. Different rates pay off different amounts of capital (you can make it the same by fiddling with the payments) How to compare mortgages To calculate the total cost of a mortgage deal. You can do this by adding together the total monthly payments over the fixed period (7 x 12 = 84 payments in this case) then adding any product fee minus any cashback.




Many lenders let you lookup the broker options on the web. There may be some specialist deals that are only done through the broker network some lenders it will be a few products, for a lot of borrowers there may be no difference Some it is on just about every deal the brokers get a better rate or other incentive.. As a clue brokers are known as intermediaries. if you know roughly what you want/need it does not take long to filter the main lenders for whats out there. and do the like for like comparisons to see which is cheapest and by how much. You can then look at the more critical stuff like, follow on rates, overpayment limits/ERC, retention deal history, LTV boundaries...


1.69% 5 years fixed with no £999 arrangement fee is a better option !


You're bouncing from blaming "boomers" for your plight to the conservative party, then blaming empty housing stock and then the gig economy... you really do need to compose your arguments better. Empty houses dont mean a lack of supply, if you are using London as an example then the vast majority of the empty housing stock you refer to are owned by foreign buyers who for years have been using property as a way of hiding / investing (delete where appropriate depending on how pessimistic you are) funds. there was independent research done a few years ago (apologies for not finding it but cant be bothered to search) they estimated 22% of all privately owned property in central london was owned by foreign buyers or by offshore trusts. Again this has nothing to do with boomers, just wealthy people but in my opinion it is why London property prices are so high, wealthy foreign investors buy, meaning local people are forced to buy the next best and so on meaning prices are high but while there is demand for property this will always be the case, this is happening worldwide though as we all live in a free market. New Zealand, last year I believe, took the approach to ban foreign investors as homes in Auckland were now on average the highest in the world at over £1million so clearly others have it worse than we do. Again going back to my original point, you should stop being so self entitled and blaming people who you feel had it better than you, sure property was cheaper if you were born 30 years ago but there are loads of things that aren't better, chances are if you were born 30 years ago, you'd have been less likely to have a job, if you did and managed to buy a house you would have probably had to give it back when interest rates sky rocketed and no one could afford their homes. Assuming you got through that and you had some spare money and fancied a holiday, you would have had to pay on average the same amount we do to travel to australia just for a flight to Spain, oh and you would live at least 10 years less. All perspective I guess but theres never been a generation as lucky as us so quit being so negative and cheer up, your life will be loads better if you are more positive :D

Barclays Blue Rewards Current account cash reward ccount - Get up to £7 a month Replacement for Santander
-39° Expired
Posted 20th MayPosted 20th May
Barclays Blue Rewards Current account cash reward ccount - Get up to £7 a month Replacement for Santander
Current account cash reward Get up to £7 a month for using your account – we’ll give you £3.50 for each of the first two Direct Debits you pay. Getting started is easy It only t… Read more
Get deal*Get deal*

Up and till last month I paid them £3 a month and they kindly gave me £12 back. Sadly I have just paid my interest only mortgage off with them and now I will loose money, as my interest was less than the rewards received for having the mortgage lol!


I was inferring nothing of the sort. Maybe the word 'down' was what gave you that impression? I will be sure to think of my adverbs more carefully from now on.


You were inferring they'd cut the benefits like many banks are currently doing when they just haven't. It's being going for many, many years at the £7 for £3 rate, but more recently they introduced a limited time offer for new accounts only so have cut nothing.


They still pay extra if mortgage with them


I’ve used it and accumulated quite a bit over the years. They used to pay extra if you had a morgage with them but it’s still £3 a month for not doing a right lot for those that qualify.

Free Access To Over 300,000 Books (Including Academic Books) with Barclays via Perlego until 30th June - If Registered As A Student
247° Expired
Posted 28th AprPosted 28th Apr
Free Access To Over 300,000 Books (Including Academic Books) with Barclays via Perlego until 30th June - If Registered As A Student
Hey Guys; Just got this email from Barclays where, if you’re registered as a student and studying, you will have FREE access to Perlego’s online resources until June 2020 as unive… Read more

Depending when Voxi offer ends, use this if possible and then Voxi to potentially get 14 weeks out of it as this offer lasts around 8-9 weeks? :)


so it doesnt work if you have a higher education account? darn


Just had a Perlego offer from Voxi - 6 weeks free access


Because the code is my personal one?


What's the point if you cover the code?

Barclays to offer customers new £750 interest-free overdrafts (Newly Approved + Pre-Existing) from 1 May - 9 July
731° Expired
Posted 21st AprPosted 21st Apr
Barclays to offer customers new £750 interest-free overdrafts (Newly Approved + Pre-Existing) from 1 May - 9 July
Barclays have just announced from the start of next month customers will pay no interest on the first £750 of their overdrafts. This should come handy for folks facing the difficul… Read more
Get deal*Get deal*

Apparently, these high rates are actually revenue neutral for the banks. The regulators were trying to get transparency - just a flat APR for comparison. Some banks were charging daily fees, some APR, some APR and a usage fee. Some people were paying hundred of pounds a year in fees for unauthorised overdrafts too. It was their choice to remove interest free buffers etc, this wasn't required.


Just received this; I hope that you and your family are well. Things continue to be uncertain and I know you might have questions or concerns about money right now, so I’d like to let you know about some of the new things we’ve introduced to help you since I last wrote to you. These include new step-by-step guides to help you take care of your banking from home, and temporary changes to reduce the cost of borrowing through an arranged overdraft. New ways we’re helping you Our coronavirus help page is being updated regularly with the latest information, tools and tips. Visit our website and choose ‘Coronavirus help’ to find out how we can help you. Banking from home guides - The Barclays app1 and our Online Banking service are the best ways to manage your money from home, so we’ve created some new guides to help you use them. We cover everything from getting set up to managing your payments and accounts. Search online for ‘Barclays ways to bank’ and scroll down to the new ‘Banking from home’ section. Arranged overdrafts - Whether you already have an arranged overdraft or would like to apply for one, we’re not charging interest on personal current account2 overdrafts until 30 April. Then, from 1 May to 9 July, we won’t charge interest on overdrawn balances up to £750. If you use more than £750 of your arranged overdraft during this time, we’ll waive some of the interest to reduce the annual rate of interest (EAR) from 35% to 19.51%, with interest charges capped at £90 per month. Check our coronavirus help page for details. Thank you - from everyone at Barclays I appreciate the effort many of you have made to get your banking done online or with the app. Doing this instead of calling us helps us to work with customers who have financial worries that simply can’t wait - so thank you for bearing with us. The coronavirus help page on our website is the best place to find our latest updates and guides. If you do need to get in touch you can chat to us on Facebook Messenger, or follow us on Facebook, Twitter and Instagram by searching ‘Barclays UK’ for news and help. Yours sincerely Matt Hammerstein CEO, Barclays UK


Yay more debt


Not sure if this helps, but NatWest are offering something similar but £500 overdraft limit and you have to apply for it. Someone from NatWest called me this morning. But as I never have to get into overdraft I didn’t pay full attention


Me too (skeptical) but I just checked and it's now showing £2000 overdraft instead of £1000 (shock)

2 Year Tracker Mortgage at 1.18% - 60% LTV - No product fee @ Barclays Bank
1489° Expired
Posted 31st MarPosted 31st Mar
2 Year Tracker Mortgage at 1.18% - 60% LTV - No product fee @ Barclays Bank
Barclays Tracker Mortgage 1.18%. No fee, which is a factor in my thinking. It's difficult to get a remortgage in the current circumstances and who knows when the good deals will … Read more

Leek offering 1.09% discounted variable here better rate than this


It’s been pulled. New rate 1.58%. I dn’t adam and eve it. So BoE rate goes down savings have just been cut but mortgages go up. I suppose the risk is more of people dafaulting. Just my luck just under 7 months to go before my mortgage runs out. Just my luck.


Hi I can’t find this deal you got? Is it available to all? Thanks


It says no Fee in the information


That depends on if there is a setup fee with the mortgage. 3% of 8k is much less that a 999 setup fee. Anyway, I think the advice of getting a tracker, borrowing more, then immediately overpaying is best if the intention is keeping a mortgage.

No overdrafts fee from Barclays from 27 March to 30 April
2267° Expired
Posted 26th MarPosted 26th Mar
No overdrafts fee from Barclays from 27 March to 30 April
Overdrafts If you have an arranged overdraft with us, we won’t charge you any interest between 27 March and 30 April 2020. You don’t need to do anything – it’ll happen automatical… Read more

Top offer by Barclays, this will help many including myself. Was hoping they would have a longer interest free period on the overdraft like some of the other banks. But baggers can't be choosers as they say ;)


Fair play Barclays


It’s almost like they are setting things up for an almighty recession


I am shocked, wait no I’m not actually surprised to learn Barclays aren’t offering any of their customers real help such as payment holidays and as others have pointed out the sky high interest rate for the overdraft after 3 months is appalling. I have banked with them for over 20 years and do not require any help from them at this time, however as soon as this Coronavirus panic is over I’m going to close all my accounts and investments with them. I know this makes no difference to them but hopefully many others will also take the same action.


Overdrafts with barclays are a joke

2 Free Picturehouse Cinemas tickets with Barclays Premier account
98° Expired
Posted 31st JanPosted 31st Jan
2 Free Picturehouse Cinemas tickets with Barclays Premier account
Free admission for two at any participating Picturehouse Cinema location is available between Friday 31 January 2020 and Friday 7 February 2020 . How to redeem your free ad… Read more

Seems a bit niche! XD


To join Premier, you’ll need a minimum of £100,000 saved or invested with us – or an annual gross income of £75,000 or more paid into a Barclays current account.

Barclays 2 Year Fixed Mortgage 1.21% With £999 Fee
1299° Expired
Posted 10th JanPosted 10th Jan
Barclays 2 Year Fixed Mortgage 1.21% With £999 Fee
Barclays mortgage rate today is 1.21% fixed for 2 years with an fee of £999 60% LTV Early repayment charge 2%
Avatardeleted2385492Get deal*Get deal*

Called it ;) ;) ;)


Called it ;)


Wrong about what? I said in the next 3 months. However, I am not surprised they have put if off keeping in mind Brexit is tomorrow. It would have thrown the markets in to turmoil.


Turns out you were wrong and it won't happen. Interest rates held.


Do you have a crystal ball? We have no way of knowing what rates will do over the next few years. Longer fixed periods protect against interest rate increases and if you're worried about the implications of rate increases should they happen in the future are worth it in some cases for the peace of mind they provide. Everybody's situation is different and different people have different priorities.

Barclays Mortgage 2yr 1.24% + £999 / 5y 1.58% + £999 60% LTV / 5y 1.63% + £999 75% LTV
309° Expired
Posted 17th Sep 2019Posted 17th Sep 2019
Barclays Mortgage 2yr 1.24% + £999 / 5y 1.58% + £999 60% LTV / 5y 1.63% + £999 75% LTV
Barclays have dropped their rates today making them one of the lowest available at the moment. 5y 1.63% + £999 75% LTV… Read more

Santander have undercut the 75% LTV by 0.01%


youre going to have to do your own maths on this as its relative to how much your interest rate is, how much you borrow etc. You want to look at the fixed rates because once those rates expire and you move onto the variable the repayments on your mortgage go up but the extra isnt paying off the compound amount its just going to interest. for example 2 year fixes have the lowest interest rates however if you're being lumped with £999 in fees every 2 years and you're on a small amount borrowed lets say less than £200k it doesnt make sense and you'd go for the higher % without fees. if your unsure talk to a mortgage adviser.


I was on a 25 year mortgage, remortgaging now after 5 years. Does it work out any cheaper to mortgage for another 25 and overpay each month (repaying 5 years early) or mortgage for 20 years and not overpay for the same amount coming out of my account? About £1k


Thanks Myriad I was accepted for 1.64 with Barclays but now changing to 1.58, worth the fee (y)


Can you change from mortgage lender to go with this deal?

Barclays Mortgage 2 years fixed rate mortgage 60% LTV 1.28% + £999 fee & 5 years fixed 1.64%
837° Expired
Posted 30th Aug 2019Posted 30th Aug 2019
Barclays Mortgage 2 years fixed rate mortgage 60% LTV 1.28% + £999 fee & 5 years fixed 1.64%
2 years fixed rate mortgage 60% LTV 1.28% + £999 fee & 5 years fixed 1.64% Very good rates (y)… Read more

There isn’t a simple answer I’m afraid. Best thing to do is write down what each scenario will mean for you financially. My experience of offset is that your payment remains at a set amount (based on the interest rate) & the lender will write to you periodically (say every 3 months) to tell you what you have offset so far & what your new mortgage term is. That’s the objective of offset - to repay the mortgage quicker (although this can vary with different lenders so best to check with Barclays).


Just wondering if one should go for 1.64 Hsbc 2 year fixed rate or 1.99 with 2 year offset with barclays for an amount of 60k (with current account balance of 50k)?


Barclays are lowering their rates tomorrow again, at least for 5y


Agree, with the lower rates even with fees the saving are there when you crunch the numbers. Taking your £275k 21 full term and this 60% LTV 2y deal at 1.28% and the 5year deal at 1.64% at year 2 option amount rate payment owing 1 £275,000.00 1.28% £1,290.69 £250,768 2 £275,000.00 1.64% £1,290.69 £252,698 Already £2k ahead The second 2 years look like this adding the £999 fee to the 2y option. 1 £251,767 1.28% £1,290.69 £226,932 2 £252,698 1.64% £1,290.69 £229,647 At year 4 even with the fee added still £2,700 ahead. if rates go up at the second 2y fix can go up to 1.836% before being worse off at year 4. That's 0.556% or 2x0.25% rises built in safety going with the shorter fix For those that think 2 rate rises or more are going to happen in the next 2 years the 5 year may be for them and the cost of getting it wrong is a couple of payment on this big mortgage(smaller mortgages will be more) another fee and another year will change the numbers for Y5 but easy to calculate.


Lets look at the break even mortgage sizes for the 2y Barclays 60% LTV deals. from the pdf (customer would need to check if all these are avaiable to them as on the website product switch 2y no fee is 1.95%) 1.28% + £999 fee 1.55% + £299 fee 1.79% + £0 fee The 3 interest only checks(that is the most you can save with a lower rate) £700/(0.0027*2)=£129,630 £999/(0.0051*2)=£97,941 £299/(0.0024*2)=£62,292 The rough indicators are below £62k no fee over £98k the £999 deal is better than the £0 deal but not as good as the £299. between around £62k an £130k the £299 fee deal is best over £130k £999 fee The shorter the term(bigger payment) the break even mortgage sizes goes up. It can be quite a bit more than the interest only break even so needs to be calculated. (most know their mortgage size and term/payment so can just do it for that) Lets do 20 year term and see what the actual break even mortgages are. Add the fees and make the payments the same. option amount rate payment owing after 2y 1 £66,949 1.28% £327.11 £60,736 2 £66,249 1.55% £327.11 £60,365 3 £65,950 1.79% £327.11 £60,365 over £65,950 the £299 fee is best(below that no fee). option amount rate payment owing after 2y 1 £137,869 1.28% £678.87 £124,948 2 £137,169 1.55% £678.87 £124,948 3 £136,870 1.79% £678.87 £125,279 over £136,870 that's when the £999 fee kicks in Change the amount borrowed or your planned payment and the numbers change a bit. to see the difference paying the fee up front makes is the same as borrowing lees in the first place.

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