Barclays mortgages customer ratings
The table below shows how Barclays performed in our latest mortgage satisfaction survey, from application process to value for money.
|Customer rating for:||Star rating|
|Customer service|| |
|Application process|| |
|Value for money|
|Keeping you well informed|| |
|Clarity of statements|
|Transparency of charges|
|Query and complaint handling|
|Ability to overpay or underpay mortgage|
Star ratings based on a June 2018 Which? survey of 3,560 members of the general public, in which 382 people told us they had their mortgage with Barclays.
What kinds of mortgages does Barclays offer?
When we checked in July 2018, there were more than 80 different mortgages available from Barclays. Most were fixed-rate deals lasting two, three, five or 10 years.
A smaller number of mortgages offered by Barclays were tracker deals, with most lasting two years.
Does Barclays offer interest-only mortgages?
Yes, although you need to earn at least £75,000 a year to be eligible.
If you’re applying for an interest-only mortgage with another person, one of you must earn at least £75,000. Alternatively, your combined income must be at least £100,000.
The most you can borrow is 75% of the property’s value with an interest-only mortgage.
Which? Mortgage Advisers can find the best lenders and deals for your personal situation.
Does Barclays offer the best mortgage deals?
Which? analysis has found that Barclays offers more cheap mortgages than the average lender.
In order to work this out, our experts analysed thousands of mortgages over a four-week period in June and July 2018. They compiled a total of 108 ‘top-10 cheapest deal’ tables based on a variety of borrowing scenarios, and counted how many times each lender featured in a table.
The average number of times a lender made it into a table was 14, while Barclays featured 27 times. (Data source: Moneyfacts.)
Interest rates on Barclays mortgages
When we checked in July 2018, most mortgages available from Barclays were fixed-rate deals, meaning your interest rate is guaranteed to stay the same for a set number of years.
We found the average interest rate of a two-year fixed-rate mortgage from Barclays was 2.01%, compared to the industry average of 2.81%.
When we asked Barclays’ mortgage customers about the interest rate they were paying, nearly one in five told us they were currently paying less than 1%.
How much could I borrow from Barclays?
If you want to borrow more than 85% of a property’s value, the most you could borrow from Barclays is:
- £400,000 for a house
- £300,000 for a flat
Below we’ve also outlined how much you could potentially borrow from Barclays in relation to your income, loan-to-value ratio and debt.
|If your income is £45,000 or more||5 times your income|
|If your income is less than £45,000||4.49 times your income|
|If the loan-to-value of your mortgage is more than 85%||4.49 times your income|
|If the loan-to-value of your mortgage is more than 90% and your income is £50,000 or less||4 times your income|
|If your debt-to-income ratio is 20% or more||4 times your income|
The amount you can borrow from Barclays will be determined by whichever of the following is lowest:
- Your affordability assessment (ie your ability to repay the mortgage)
- The income multiples outlined above
- The maximum loan-to-value of your mortgage
If you’re applying for a Barclays Family Springboard mortgage and your income is more than £50,000, you could borrow up to 5.5 times your income.
For Help to Buy schemes, the most you could borrow is 4.49 times your income.
Can I make overpayments?
With most mortgages from Barclays, you can overpay up to 10% of the mortgage balance every 12 months.
But if you have a 10-year fixed-rate mortgage, you can only overpay up to 5%.
How can I contact Barclays?
New mortgage customers can contact Barclays 24 hours a day on 0800 197 1081. Existing customers should call 0800 022 4022.
You can also contact Barclays by using online chat or via a video call. The website is barclays.co.uk.
Barclays mortgage eligibility
You won’t be able to get a mortgage from Barclays if the total debt you owe on credit cards, overdrafts and loans is more than, or equal to, your gross annual income.
If you’re employed, you’ll need to have worked for your current employer for three months in a row before applying for a mortgage from Barclays. Alternatively, you’ll need to have been employed continuously, with no gaps, for the past one-and-a-half years.
How could a mortgage from Barclays help me onto the property ladder?
If you’re looking to buy a property costing £500,000 or less, you might not have to save for a deposit with Barclays’ Family Springboard Mortgage. If your family can provide 10% of the property price as security for the loan, you could borrow the entire property price through taking out a 100% mortgage.
Another mortgage from Barclays which could enable your family to help you onto the property ladder is a Joint Borrower Sole Proprietor mortgage, where you apply for a joint mortgage with your family.
Barclays also offers Help to Buy mortgages.
Which? Mortgage Advisers can advise on Help to Buy mortgages and find the best deal for you.