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Barclays Mortgage Rate Switch: Existing Mortgage Customers

Product Transfer for Existing Mortgage Customers
Switching your mortgage rate with Barclays can be a good idea for existing customers. A Barclays mortgage rate switch is commonly known as a product transfer and allows you to switch to a new mortgage deal without changing lenders.

This guide will cover everything you need to know about switching rates with Barclays and how working with a mortgage broker can make it all far easier. If you have any unanswered questions, get in touch with us for free mortgage advice and support.

Barclays Product Transfer

A Barclays product transfer, or a mortgage rate switch, is a process that allows you to change your current Barclays mortgage deal with your existing lender. When your fixed rate is coming to an end, it’s a way to stay with your current lender but switch to a new mortgage rate/deal. This can often lower your monthly mortgage payments and save you money, especially if you are on a standard variable rate.

Staying with Your Current Lender Means…

  • Easy to switch to their latest best Fixed or Tracker deal

  • No credit checks, income checks, or valuation fees needed

  • It takes as little as 15 minutes – see your options online instantly

  • FREE Mortgage Transfer service – so it doesn’t cost you a penny

  • Lock-in your best rate up to 6 months before your deal expires

  • A fast and simple alternative to a remortgage

  • Bad credit / missed payments are not a problem (if the mortgage up to date)

We help hundreds of customers each month transfer mortgage rates with their existing lenders. It’s a great option if you don’t need to consolidate or borrow extra or if now is not the ideal time to apply for a remortgage.

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    Barclays Mortgage Rates for Existing Customers – 60% Loan to Value

    Rates for existing customers current as of July 18th, 2024

    Type Rate Until Fee LTV
    1 Year Fixed 4.89% 30/09/2025 £0 60%
    2 Years Fixed 4.67% 30/09/2026 £999 60%
    2 Years Fixed 4.90% 30/09/2026 £0 60%
    5 Years Fixed 4.31% 30/09/2029 £999 60%
    5 Years Fixed 4.45% 30/09/2029 £0 60%
    10 Years Fixed 4.95% 30/09/2024 £999 60%
    10 Years Fixed 5.02% 30/09/2024 £0 60%

    Barclays Mortgage Rates for Existing Customers – 75% Loan to Value

    Rates for existing customers current as of July 18th, 2024

    Type Rate Until Fee LTV
    1 Year Fixed 5.10% 30/09/2025 £0 75%
    2 Years Fixed 4.75% 30/09/2026 £999 75%
    2 Years Fixed 4.96% 30/09/2026 £0 75%
    5 Years Fixed 4.45% 30/09/2029 £999 75%
    5 Years Fixed 4.68% 30/09/2029 £0 75%
    10 Years Fixed 5.15% 30/09/2024 £999 75%
    10 Years Fixed 5.22% 30/09/2024 £0 75%

    Barclays Mortgage Rates for Existing Customers – 85% Loan to Value

    Rates for existing customers current as of July 18th, 2024

    Type Rate Until Fee LTV
    1 Year Fixed 5.10% 30/09/2025 £0 85%
    2 Years Fixed 4.75% 30/09/2026 £999 85%
    2 Years Fixed 4.96% 30/09/2026 £0 85%
    5 Years Fixed 4.94% 30/09/2029 £999 85%
    5 Years Fixed 5.03% 30/09/2029 £0 85%

    Barclays Mortgage Tracker Rates for Existing Customers

    Rates for existing customers current as of July 18th, 2024

    Type Rate Until Fee LTV
    2 Year Tracker 5.39% 30/09/2026 £999 60%
    2 Year Tracker 5.74% 30/09/2026 £0 60%
    5 Year Tracker 5.85% 30/09/2029 £999 60%
    2 Year Tracker 5.61% 30/09/2026 £999 75%
    2 Year Tracker 5.75% 30/09/2026 £0 75%
    2 Year Offset Tracker 6.47% 30/09/2026 £1,749 80%
    2 Year Offset Tracker 6.50% 30/09/2029 £1,749 80%

    Barclays Buy to Let Mortgage Rates for Existing Customers – 65% Loan to Value

    Rates for existing customers current as of July 18th, 2024

    Type Rate Until Fee LTV
    2 Year Fixed 4.95% 30/09/2026 £1,795 65%
    2 Year Fixed 5.30% 30/09/2026 £0 65%
    5 Year fixed 4.34% 30/09/2029 £1,795 65%
    5 Year Fixed 4.58% 30/09/2029 £0 65%
    2 Year Tracker 6.59% 30/09/2026 £1,795 65%
    2 Year Tracker 7.20% 30/09/2026 £0 65%

    Barclays Buy to Let Mortgage Rates for Existing Customers – 75% Loan to Value

    Rates for existing customers current as of July 18th, 2024

    Type Rate Until Fee LTV
    2 Year Fixed 5.00% 30/09/2026 £1,795 75%
    2 Year Fixed 5.34% 30/09/2026 £0 75%
    5 Year fixed 4.45% 30/09/2029 £1,795 75%
    5 Year Fixed 4.73% 30/09/2029 £0 75%
    2 Year Tracker 6.67% 30/09/2026 £1,795 75%
    2 Year Tracker 7.20% 30/09/2026 £0 75%
    2 Year Tracker 7.89% 30/09/2026 £299 75%

    Reserve Your New Barclays Mortgage Rate for Free

    • Secure Your Rate in Advance: Existing customers can reserve a new Barclays mortgage rate up to 180 days before their current deal ends.

    • Quick and Easy Rate Switching: We can secure your new mortgage rate offer the same day we receive your instruction, ensuring a swift transition.

    • Eligibility Check with Barclays: We handle the eligibility check for you by reviewing your mortgage balance and current valuation. We’ll inform you of all the Barclays mortgage rates that are available to you.

    • No Credit Checks Needed: You can secure a new mortgage rate regardless of your recent credit history.

    • Changed Circumstances? No Problem: Even if your income has decreased, we can arrange a new Barclays mortgage rate for existing customers.

    • No Valuation Visits Required: We obtain a valuation from the lender at no cost, eliminating the need for a valuer to visit.

    • No Solicitor Needed: You won’t need a solicitor to change your Barclays mortgage rate.

    We Will Organise Your Whole Mortgage Switch
    We are experts at Barclays Mortgage Rate Switch Product Transfers. Our team of mortgage experts are here to guide you every step of the way. Contact us today for to get started, we're friendly, experienced and fee-free.

    The Barclays Mortgage Rate Switch Process

    Switching your rate with Barclays is easy. It starts with checking your eligibility and ends with switching to a new mortgage product when your current rate expires.

    1) Assess Your Situation:

    • Check your current mortgage terms, rate and balance.

    • What are your goals (lower monthly payments, fixed rate, etc.)?

    2) Talk to a Mortgage Broker:

    • Contact a mortgage broker who specialises in remortgages.

    • Provide your Barclays mortgage account number. It’s a 10-digit number starting with a ‘9’ for residential mortgages. Buy-to-let mortgages use a different system. Check your latest mortgage statement or the Barclays App if you can’t find it.

    • Tell them about your needs, preferences, and financial situation.

    • They’ll give you personalised advice and compare the deals.

    • A mortgage adviser will confirm the estimated value of your property so that loan-to-value can be assessed.

    3) Pick a shiny new mortgage rate

    • You can now choose from a range of tracker and fixed mortgage rates from the Barclays Woolwich range.

    4) Request Rate Switch

    • Once you choose your preferred rate, we request the new mortgage interest rate from Barclays on your behalf.

    • This new rate will take effect as soon as your current rate ends, helping you avoid the higher 8.74% variable rate (3.49% above the BOE Base Rate).

    Barclays does not require underwriting for existing mortgage customers.

    When switching your Barclays mortgage rate, you won’t need to provide proof of income or any additional financial information. This process involves:

    • No credit scoring

    • No wage slips for employed borrowers

    • No accounts or SA302s for self-employed borrowers

    • No bank statements

    • No affordability checks

    However, further advances, term changes, home moves, and removal of a borrower will still require standard underwriting procedures.

    How long does a Barclays mortgage product transfer?

    1. Broker Consultation: 1-2 weeks to discuss with your mortgage broker. This is to assess your needs and research deals.

    2. Application and Assessment: 2-4 weeks after choosing a deal. Barclays will review your application and do a basic valuation.

    3. Legal and Completion: 1-2 weeks for legal paperwork and signing the new agreement.

    The total product transfer takes between 4-8 weeks. Individual circumstances and any unexpected delays may apply.

    We Will Organise Your Whole Mortgage Switch
    We are experts at Barclays Mortgage Rate Switch Product Transfers. Our team of mortgage experts are here to guide you every step of the way. Contact us today for to get started, we're friendly, experienced and fee-free.
    Barclays Mortgage Advisors

    Using a Mortgage Broker for your Barclays Product Transfer

    A mortgage broker is your best friend when switching your mortgage rate. They’ll give you expert advice, explain the options available, and guide you through the switchover process.

    At YesCanDo Money, we offer free, full-service mortgage broking to help you through the mortgage product transfer process. We do the paperwork, give you expert mortgage advice, and get you the best mortgage deal available, all for free. Our team of experienced brokers will make the process as painless as possible, saving you time and hassle.

    • fee-free advice and mortgage service

    • we compare with 95+ other mortgage lenders to make sure you have the best deal

    • we are 5-star rated on Trustpilot with over 1000 reviews

    Frequently Asked Questions

    A Barclays rate change, also known as a product transfer, is where existing Barclays mortgage customers can change their current mortgage deal to a new one from Barclays and get a lower rate.

    You can switch rates with Barclays at any time, but it’s best to do so as your current deal ends or if you’re on the Standard Variable Rate (SVR) so you can get a better deal. If you have the Barclays app or use online banking, you can see the date your existing rate ends and when a new rate could start.

    A rate change is where you change your current mortgage deal to a new one with your current lender. This will lower your monthly payments if the new deal has a lower rate.

    Current Standard Variable Rate (SVR) for Barclays mortgages stands at 8.74%; Barclays refer to this rate as their "Follow on Rate", calculated at 3.49% plus Bank of England Base Rate.

    You can remortgage with Barclays early, but it may incur an early repayment charge. The charge will depend on your current mortgage deal.

    Yes, existing Barclays customers can switch to a buy-to-let mortgage, subject to eligibility and approval. Speak to a broker to find out more.

    Barclays Mortgage Advisors

    Barclays Product Transfer Form

    Please take note of the following...

    A Rate Switch/Product Transfers with Barclays may be available if your existing mortgage, whether it's a residential or Buy-to-let mortgage, is either on the standard variable rate or is within 6 months of the expiry of fixed or discounted rate agreements.

    Please complete and submit the below form and one of our advisors will be in touch.

    Grant Humphries (CeMAP)
    Grant Humphries (CeMAP)

    Grant Humphries (CeMAP) is a proficient Mortgage & Protection Adviser at YesCanDo Money. With a career spanning since 2001, Grant has honed his expertise in understanding mortgage lenders' criteria, complex financial situations, and the nuances of the mortgage market. His deep knowledge enables him to provide tailored solutions, especially for professionals and those with unique financial profiles. At YesCanDo, Grant's commitment to excellence is evident. He takes pride in guiding clients through their mortgage journey, ensuring they feel confident and informed at every step. From first-time buyers to seasoned investors, Grant's analytical approach and dedication make him a trusted adviser in the financial landscape

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