Barclays Woolwich switch rates from 1.43% – existing customers only

Barclays Mortgage rates from 1.43%

  • Existing Barclays borrower?
  • Looking to switch to a Reward Rate?
  • Make one simple phone call to 020 8783 9958
  • No need to book an appointment with a Mortgage Adviser
  • No need to register for Online Banking
  • Prefer to work online? click here

Fixed rates for existing Barclays borrowers

  • 1 year fixed rate 1.96% until 31st January 2020
  • 2 year fixed rate 1.52% until 31st January 2021
  • 3 year fixed rate 1.72% until 31st January 2022
  • 5 year fixed rate 1.93% until 31st January 2024
  • 10 year fixed rate 2.53% until 31st January 2029

these Barclays products carry product fees these will be outlined to you when you enquire

No Fee Fixed rates for existing Barclays borrowers

  • 1 year fixed rate 1.96% until 31st January 2020
  • 2 year fixed rate 1.96% until 31st January 2021
  • 3 year fixed rate 1.99% until 31st January 2022
  • 5 year fixed rate 2.24% until 31st January 2024

these Barclays products carry no product fees

Tracker rates here
Offset tracker rates here

Barclays Woolwich Eligibility

In order to be eligible for these products:

  • You must be an existing Barclays Woolwich residential mortgage client
  • Your mortgage account must be up to date with no history of arrears
  • You must be currently on a product with a product end date in the next 90 days
  • Or you should already be on the Barclays Woolwich standard variable mortgage rate

Process for Barclays Woolwich rate switch

You can use the link above to request help online, or call our team on 020 8783 9958. Have to hand your Barclays mortgage account number (this is 10 digits long and starts with ‘9’).

We will confirm the estimated value of your property so that loan to value can be assessed.

From that point it is possible to identify the range of tracker and fixed mortgage rates available to you from the Barclays Woolwich range.

Once you, as the borrower decide on your preferred rate, a simple signature requests the new mortgage rate from Barclays Woolwich, which is then put in place as the current rate ends. This means you avoid mortgage interest on the relatively expensive 3.74% variable rate (3.49% above Barclays Base Rate).

Take action or things get expensive

If you have an outstanding mortgage of just £75,000 and leave your account to drift onto the 3.74% Barclays variable rate, you will be paying nearly £250 a month interest when you could be saving half of that figure by switching your rate – a £125 per month saving.

A borrower with a £250,000 mortgage could save over £400 per month by simply contacting us and selecting a new, lower, mortgage rate.

Barclays Mortgage rates from 1.48% tracker

Barclays Woolwich

Barclays Woolwich

Further opportunities for existing Barclays Woolwich mortgage clients to switch some excellent tracker mortgage rates.

  • 2 year tracker rate BEBR + 0.68% = 1.43%

Barclays Offset Tracker Mortgage rates from 1.78%

Barclays Woolwich

Barclays Woolwich

Further opportunities for existing Barclays Woolwich offset mortgage clients to switch some excellent full offset tracker mortgage rates.

  • 2 year offset tracker rate BEBR + 1.03% = 1.78%
  • Lifetime Offset tracker rate BEBR + 1.73% = 2.48%

Barclays require no underwriting for existing mortgage customers

Barclays mortgage rate switches are arranged without any proof of income or further financial information requested by the lender. This means:

  • No credit scoring
  • No wage slips for employed borrowers
  • No accounts or SA302s for self employed borrowers
  • No bank statements
  • No affordability checks

Further advances, term changes, home moves, and removal of a borrower, all require underwriting in the usual way.

Rate switches and Barclays Mortgage Reserve Accounts

If you have made use of your Barclays reserve account facility the interest on this funding is charged separately from your main mortgage. Therefore you cannot switch rate on this proportion of your mortgage lending.

The balance on your mortgage reserve is added to your main mortgage balance when calculating loan to value on your mortgage borrowing.

Removal of the Barclay’s mortgage reserve facility

You may have recently had correspondence from Barclays letting you know that they intend to remove or reduce your mortgage reserve facility.

They are doing this because having mortgage reserve account available to their borrowers makes it difficult for them to predict and control their overall lending pattern within the current rules of the Regulator.

If you use any mortgage reserve facility before Barclays reduce your limit, or remove your facility, you should be able to repay it under your normal terms. We have not heard of Barclays calling in any facility that has been already used.

Always consider use of your Barclays mortgage reserve facility carefully as we see a number of borrowers who have used the account to maintain their lifestyle during difficult times and have been unable to pay back the capital leaving them with a long-term problem.

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