Barclays mortgages
Compare our best Barclays mortgages. Explore our detailed mortgage lender review and calculate how much you could borrow with a Barclays mortgage
Quick stats
UK's 5th largest lender
Barclays lent over £23bn in 2018. That's 9% of all mortgage lending.
19-day submission time
That's 1 day faster than the 20 day average across the lenders we measured.
Borrow up to 5x your income
You could borrow up to this amount if you meet the lender's requirements.
About Barclays
Barclays is one of the UK’s largest mortgage lenders.
They've provided about 9% of all mortgages in 2018, totalling £23.1 billion.¹
Barclays was founded in 1896 and traces back to a goldsmith banking business that was established in the City of London in 1690.²
Barclays offer mortgage deals to many people but often will not lend to you if you have bad credit.
In this review we'll cover:
Compare Barclays mortgages
Compare Barclays mortgages and see how your monthly payments would change depending on the initial period, total mortgage length, your deposit and how much you want to borrow.
After you choose a Barclays mortgage deal, one of our expert mortgage brokers can check whether you're eligible and help arrange the mortgage for you.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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Is Barclays a good mortgage lender?
We're looking at public complaints data to estimate Barclays' quality of service.
There were 7,224 complaints from Barclays mortgage customers between July and December 2019.²
That’s around 1.04% of customers and is lower than the 1.06% average across major lenders.*
Barclays scorecard
Barclays is a good mortgage lender for buy to let mortgages
Barclays generally offer low deposit mortgages, which could be good for first time buyers. This may be affected by Covid at the moment as Barclays is currently only lending 85% or lower.
*The number of customers served by this lender isn’t publicly available so we’ve estimated this figure based on market share and average house price in the UK.
How long a Barclays mortgage application takes
In the last 6 months it took Barclays on average 19 days to process mortgage applications from Trussle customers.*
That’s 1 day faster than the 20 day average across all the lenders we’ve submitted applications to.
What affects the time taken to approve my application?
The time it takes for a lender to approve an application will vary depending on your personal circumstances and how busy the lender is.
Some applications can be approved by the lender within 24 hours but others can take weeks or even months.
The quality of the application can affect the approval time. A mortgage broker can help by making sure your application has all the details the lender needs.
These details were last updated in July 2020.
How much you could borrow from Barclays
Barclays could lend you up to 5 times your salary if you earn £30,000 or more a year.
How much you can borrow will also depend on your:
credit history
debts
deposit
regular expenses and bills
age
See how much you might be able to borrow with our mortgage calculator.
These details were last updated in July 2020.
Barclays mortgage calculator
Calculate how much mortgage you may be able to borrow from Barclays. Calculate your monthly mortgage repayments with a Barclays mortgage
You could borrow up to:
Your home could be repossessed if you don't keep up repayments on your mortgage.
Talk to a mortgage broker or lender to get a more accurate remortgage savings amount.
Types of mortgages Barclays offers
Barclays offer a variety of mortgages for different types of customers.
Barclays offers:
Barclays Family Springboard mortgages
Barclays Green home mortgages
Barclays premier mortgages
Springboard mortgages can be useful if you’re finding it hard to save for a deposit.
With a Springboard mortgage you can get a family member or friend to help out by putting down 10% of the total house price as a deposit.
As the buyer, you could then get a 100% LTV mortgage to buy a house.
The ‘helper’ will get their money back with interest after an agreed time if the buyer keeps up with their mortgage repayments.
Buying an energy efficient new build home could get you a lower mortgage rate using Barclays Green Home mortgage.
To get a lower mortgage rate, the home you want to buy should either:
have an energy efficiency rating of 81 or above
be in energy efficiency bands A or B
Check the Barclays website for more information.
Barclays Premier customers enjoy access to exclusive rates and benefits.
You could get a Barclays Premier mortgage if you:
have an annual income of £75,000 or more paid into a Barclays current account and
have at least £100,000 saved or invested with Barclays
Getting a Barclays mortgage
You can get a Barclays mortgage either directly from them or from a mortgage broker.
If you’re a first time buyer, check out our guide to find out how the process works.
A mortgage in principle (MIP) will show you how much you may be able to borrow for a mortgage.
You can get a MIP with Barclays or through a broker.
Once you get an offer from Barclays, you’ll have 6 months to complete the purchase of your property.
Buying a property can be a slow process.
If unexpected issues or delays mean you’re unable to make that deadline, you’ll either have to ask for an extension on your offer or apply again.
Barclays will pass on the funds to your solicitor on or just before your completion date.
Your solicitor will then transfer them to the house-seller’s solicitor.
The completion date will need to be previously agreed by both your solicitor and the people who are selling the property.
Barclays will send you a letter informing you that you’ll revert to their Standard Variable Rate (SVR) if you don’t remortgage.
The SVR tends to be higher than a fixed rate, and your monthly repayments will likely increase if you don’t switch to a lower-rate deal with Barclays or another lender. It’s worth speaking with Barclays or a mortgage broker like Trussle to assess your options.
Barclays mortgage payments
Barclays doesn’t have a set date for your first mortgage payment. They’ll send you all the details of your first payment upon purchase.
If there’s a gap between move in day and the end of the month, your first mortgage payment may be slightly more to reflect the additional interest you’ve incurred.
Most Barclays mortgages will allow you to overpay by up to 10% each year.
Their 10 year fixed rate mortgage will only allow you to overpay by 5%.
You can choose to either:
increase your regular Direct Debit
transfer a lump sum for a one off overpayment.
To set up either option on a Barclays mortgage, you’ll need to register for online banking.
Depending on the type of mortgage you choose, you may have to pay an early repayment fee if you pay before the agreed end date of your mortgage.
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Your home could be repossessed if you don't keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
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Sources
Deal and rate data was sourced by Trussle. All other information was sourced from Barclays' own website, unless referenced below.
