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The Ultimate Barclays Remortgage Guide

Remortgaging your home can be a smart financial move, offering the chance to lower monthly payments, secure better interest rates or release equity from your property. If you're considering remortgaging with Barclays, this guide provides all the information you'll need for making an informed decision.
In this guide
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    What is a Remortgage?

    A remortgage involves applying for a mortgage with another mortgage lender while staying in your current property, not staying with your current lender, and moving to a better interest rate with another mortgage lender – this process may also be known as “remortgaging”.

    Is it Time to Remortgage?

    If your current mortgage deal is about to end or has already moved onto its variable rate, it is worthwhile checking for new offers. For instance, if the value of your property has changed since purchase, its loan-to-value ratio could have also improved and may provide access to more competitive interest rates and deals.

    Remortgaging may also help you raise funds for home improvements or to pay off debts. You may want to reduce the mortgage term or even extend the term to reduce monthly payments. Whatever your mortgage goals it is important you do some homework and find the lowest interest rate.

    The best time to start looking into your remortgage is 6 months prior to your existing interest rate or deal ending.

    Why Consider a Barclays Remortgage?

    Barclays mortgages are an experienced lender offering an impressive variety of mortgage products, making them a go-to lender for homeowners looking to remortgage. Their competitive interest rates, flexible terms, and variety of options make them t a strong contender for a remortgage.

    Barclays Remortgage Timeline: How long does a Barclays remortgage take?

    A remortgage with Barclays typically takes around 8 weeks after you apply. To ensure a smooth process, it’s recommended to start the mortgage renewal 20 weeks before your existing fixed rate ends. This allows plenty of time to secure an interest rate and eliminates the need to rush the remortgage process.

    Barclays Remortgage Process

    Make your Barclays remortgage as efficient and stress-free as possible with the assistance of a mortgage broker, so we have provided this step-by-step guide so you know exactly what to expect when you remortgage through them.

    1. Receive Communication from Your Current Lender: If you’re on an introductory deal, Barclays will contact you well in advance of its expiry date. This is your cue to start considering remortgaging options.

    2. Request a Closing Balance: Ask Barclays for a redemption statement. This document outlines the amount needed to pay off your remaining mortgage loan, including fees. This is the amount you’d need to borrow if you decide to remortgage.

    3. Engage a Mortgage Broker: A mortgage broker can help you find the best deal for your circumstances. They can search the whole market and often have access to exclusive deals.

    4. Decide on the Type of Mortgage: Choose between a repayment or interest-only mortgage. Barclays offers both options, but you’ll need a plan to repay the loan at the end of the term if you choose an interest-only mortgage.

    5. Prepare for Eligibility and Affordability Checks: Gather documents like bank statements, payslips, utility bills, credit card statements, ID, records of regular outgoings, proof of bonuses or commission, and your P60. Having these ready can speed up the process.

    6. Obtain a Mortgage in Principle: If Barclays is satisfied with your documents, they’ll issue a Mortgage in Principle (MIP). This is a non-binding indication of how much they might be willing to lend.

    7. Arrange a Valuation: Barclays will arrange a valuation to confirm the house is worth the amount you’re asking to borrow. This is usually paid for by the customer, although some deals include it.

    8. Submit Your Mortgage Application: As part of your application for credit, provide information about your job, industry, income, spending habits, spending patterns, credit history, and deposit size as part of your mortgage application. The more evidence there is to support you being reliable the greater chance your application will be approved.

    9. Receive Your Mortgage Offer: If approved, Barclays will send you a mortgage offer letter. This outlines the amount you can borrow and any conditions. Check it thoroughly and inform Barclays if anything is incorrect or if your circumstances have changed.

    10. Solicitor Draws Down Mortgage Funds: Your solicitor will request the money from Barclays and use it to pay off your old mortgage.

    11. Register the New Mortgage: Your solicitor will register the details of the new mortgage holder with the Land Registry and transfer title deeds if applicable to Barclays.

    Remember, each journey to refinancing can differ and the process will depend on both your circumstances and lender requirements.

    We Will Organise Your Whole Remortgage
    Whether you choose to remortgage with Barclays or with another lender, our advisors are experts at the remortgage process. 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 Remortgage Calculator

    A remortgage can be complex, but our remortgage calculator will give you a clear idea of how much your mortgage payments increase if you don’t remortgage.

    Once your discount, tracker, or fixed-rate mortgage comes to an end, it is common that your monthly payments may switch onto your lender’s standard variable rate (SVR) which could lead to a sharp increade in your monthly mortgage payments. Our remortgage calculator can help you understand the potential benefits or remortgaging to Barclays.

    Although this is not a Barclays Mortgage Calculator, our simple remortgage calcultor works by calculating the difference between your current mortgage payments and potential interest rate if you revert to the SVR, our calculator can give an approximate annual increase in payments without remortgaging. This feature is particularly helpful if your existing deal is coming to an end as this calculation takes all payments made over a full year into consideration.

    Remortgage Calculator: Calculate how much you can save

    We Will Organise Your Whole Remortgage
    Whether you choose to remortgage with Barclays or with another lender, our advisors are experts at the remortgage process. 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.

    Starting Your Barclays Remortgage Journey

    When starting the remortgage process, our experienced mortgage brokers are the ideal starting point. They can handle every step from discussing your circumstances and goals to submitting mortgage applications and filling out paperwork on your behalf.

    Working with a Mortgage Broker

    Our brokers are here to make your remortgaging journey as smooth as possible, helping you find a deal that best meets your needs and circumstances. Partnering with one can save time and effort as they have expertise navigating through the remortgage process efficiently; plus access a range of deals not directly available. Don’t hesitate to reach out; our brokers are here every step of the way – let’s start this Barclays process together today.

    Fact – Did you know that over 71% of mortgages in the UK are carried out by independent mortgage brokers

    Mortgage Advisor - Hannah

    Case Study: Successful Remortgage with Barclays

    Hannah (YesCanDo Mortgage Adviser)
    My customer Jason, a long-term Barclays mortgage customer, decided to remortgage six months before his fixed-rate deal was due to end. He contacted our team at YesCanDo Money for assistance. We discussed his financial situation, goals, and the remortgage options available to him. After a comprehensive market search, we found that the most cost-effective deal for Jason was a product transfer with Barclays. We helped Jason complete the necessary paperwork and liaised with Barclays on his behalf. The entire process was smooth and efficient, taking just under 10 weeks in total. Jason was able to secure a lower interest rate, reducing his monthly repayments and being a free fee mortgage broker it didnt even cost him a penny.
    We Will Organise Your Whole Remortgage
    Whether you choose to remortgage with Barclays or with another lender, our advisors are experts at the remortgage process. 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.

    Specific Barclays Remortgage Situations

    Barclays offers various remortgaging solutions tailored to meet the specific needs and circumstances of our customers, such as:

    Product Transfer

    As soon as it comes time to remortgage, contact our team. We will discuss all of your mortgage options with you and point you toward the most cost-effective deals. This process is referred to as Barclays Mortgage Rate Switch or a product transfer and may prove helpful for many homeowners.

    Porting Your Barclays Mortgage When Moving Home

    If you’re moving and want to keep your existing Barclays mortgage, you can opt to port it to your new property, this is know as Mortgage Porting. However, the Barclays porting mortgage process should be approached with caution to avoid potential early repayment charges. If your current mortgage deal hasn’t ended yet, you might have to pay an early redemption fee, also known as an early repayment charge (ERC), for leaving early. By porting your mortgage, you could avoid this fee. If you need additional borrowing for your new property, you might be able to port your existing mortgage and get a new top-up rate. This could be for the same or longer term to ensure affordable monthly repayments.

    A mortgage broker can provide expert advice on porting a Barclays mortgage. They can help you understand Barclays products and determine when your early redemption fee will end, guiding your decision to port or not port your existing rate and products to your new home.

    Switching to a Different Lender

    If Barclays declines your remortgage application or offers less attractive rates than another lender, switching might be worth your while. As this involves filling out a new mortgage application process with potential additional costs involved, it is wise to weigh your benefits against costs before deciding to switch lenders.

    For guidance on whether it is best to switch lenders or not read guide on Remortgage Same Lender: A Comprehensive Decision-Making Guide

    Increasing Your Mortgage for Home Improvements

    If you’re planning significant home improvements, you might consider increasing your mortgage to cover the costs. Barclays offers additional borrowing options that could help finance your home improvement projects. However, it’s important to carefully consider your ability to manage increased repayments before proceeding with this option.

    Barclays Early Repayment Charges

    If you make the decision to pay off your Barclays mortgage early, early repayment charges may apply. These vary depending on the type of mortgage and length of fixed-rate period.

    Fixed Rate Deal Periods Barclays Early Repayment Charges
    2 year fixed 1% of balance repaid
    5 year fixed 2% of balance repaid
    7 year fixed 3% of balance repaid
    10 year fixed 10% of balance repaid
    Tracker rate products No ERC’s.

    Barclays ERCs remain the same as above across their whole product range – First time buyers, home movers, remortgage, buy to let ETC

    This information is correct and true as of the 5th of December 2022. These charges are applicable on new mortgages with the lender and could be different for existing/historical mortgages. 

    Note that these fees only apply to new mortgages with your lender and may differ for existing/historical mortgages; always consult the most up-to-date information before making your decision.

    We Will Organise Your Whole Remortgage
    Whether you choose to remortgage with Barclays or with another lender, our advisors are experts at the remortgage process. 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.

    Frquently Asked Questions

    You can start the remortgage process with Barclays up to six months before your current mortgage deal ends. Starting early gives you ample time to explore your options and address any potential issues.

    Barclays can assist with your remortgage needs through their website, phone number or branch visits; alternatively, you may choose to work with a mortgage broker who will handle everything on your behalf.

    Factors, including poor credit scores, reduced incomes, higher outgoings, or a drop in property values could all impede remortgage applications. It's essential that you establish and maintain a good credit history and income stability to increase the odds of receiving approval for refinancing loans.

    The remortgage process with Barclays typically takes around 12 weeks. However, it's recommended to start the process 20 weeks before your existing fixed rate ends to ensure a smooth transition.

    Calculations involved with remortgaging should take into account your remaining balance on your existing mortgage, the value of your property, and interest rates of possible new mortgage loans. Online calculators such as the Barclays Remortgage Calculator can assist with this task.

    Your borrowing capacity on a remortgage loan depends on factors like its value, your income, and outgoings as well as lender criteria. Most lenders allow up to an LTV ratio (loan-to-value ratio).


    Remortgaging with Barclays can be an excellent way to secure a better interest rate, lower monthly payments, or unlock equity from your home. Our convenient application process and a wide variety of mortgage products make finding a deal that best meets your needs easy – product transfer, porting mortgage loan provider switch lenders, or increasing loan amount are all possible using Barclays as a source. So don’t hesitate to get in touch and chat to us online and begin your Barclays remortgage journey today!

    We Will Organise Your Whole Remortgage
    Whether you choose to remortgage with Barclays or with another lender, our advisors are experts at the remortgage process. 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.
    Fee Free Mortgage Advisor Team

    Barclays mortgage advisors

    FREE dedicated support throughout, we have full-market access to the best mortgage rates & deals. We do everything for you, for free!


    Let us know what the best time is for us to call you. We will get one of our mortgage advisors will be in touch to talk through your situation and available options.

    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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