Coronavirus (COVID-19) update
Barclays is no longer offering fixed or tracker mortgages to customers looking to borrow more than 60% of a property's value. This does not affect fixed-rate Family Springboard mortgages.
- You can find out more of the latest updates and advice on our dedicated Which? coronavirus information hub.
Barclays mortgages customer ratings
The table below shows how Barclays performed in our latest mortgage satisfaction survey, which gathered feedback from real Barclays customers about everything to do with their mortgages - from the 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 | |
| Online access | |
Star ratings based on a June 2019 Which? survey of 3,574 members of the general public, in which 387 people told us they had their mortgage with Barclays.
What kinds of mortgages does Barclays offer?
When we checked in September 2019, there were more than 100 different mortgages available from Barclays. Most were fixed-rate deals - meaning your interest rate stays the same for a set 'initial period'. Barclays' fixed-rate mortgages had initial periods lasting two, three, five and 10 years.
A smaller number of mortgages offered by Barclays were tracker deals, with most lasting two years before reverting to Barclays' standard variable rate.
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.
Does Barclays offer the best mortgage deals?
Which? analysis has found that Barclays offers far more cheap mortgages than the average lender.
Our experts worked this out by analysing thousands of mortgage deals over a four-week period in August 2019. They compiled a list of 208 'top-10 cheapest deal' tables based on a variety of potential borrowing scenarios, and counted how many times each lender appeared in one of them.
The average number of times a lender made it into a table was 15, while Barclays appeared 48 times. (Data source: Moneyfacts.)
Interest rates on Barclays mortgages
We found the average interest rate of a two-year fixed-rate mortgage from Barclays was 1.91%, compared to the industry average of 2.77%.
When we asked Barclays’ mortgage customers about the interest rate they were paying, half of customers told us they were paying between 1% and 2.99%.
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:
- £375,000 for a house
- £220,000 for a flat
Below we’ve also outlined how much you could potentially borrow from Barclays in relation to the size of your loan compared to your property's value, known as its loan-to-value (LTV) ratio.
| Loan size | Maximum LTV |
|---|---|
| £5,000 - £375,000 | up to 95% |
| £375,001 - £5m | up to 85% |
| Over £5m | up to 75% |
If you are remortgaging, you can only borrow at 90% LTV for £5,000 - £375,000, and at 70% LTV for over £5m.
If you're buying a new build, the most you can borrow is 90% of a property's value for houses or 85% for flats.
For most Barclays mortgages, you can borrow up to 4.49x your income. If you are taking out a Barclays Family Springboard mortgage and your income is more than £50,000, you could borrow up to 5.5x your income. For Help to Buy schemes, the most you could borrow is 4.49x your income.
Can I make overpayments?
With most mortgages from Barclays, you can overpay up to 10% of the mortgage balance every 12 months. You will be charged an early repayment charge (ERC) for anything more than that.
Some specific products have different limits, though. If you have a 10-year fixed-rate mortgage, for example, 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.
Typically the oldest you can be at the end of a mortgage term with Barclays is the age you retire at, or 70, whichever is sooner. Applicants who will retire or turn 70 during a mortgage term are considered on a case by case basis.
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.
You can apply for a Barclays mortgage if you are self-employed.
- Find out more: self-employed mortgages
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 by taking out a 100% mortgage. The 10% security fund is kept in a Helpful Start savings account for five years and earns interest.
Barclays' Joint Borrower Sole Proprietor mortgage could also get you onto the property ladder with the help of your family. It involves applying for a joint mortgage with a family member.
Barclays also offers Help to Buy mortgages.
