In This Article
Who are Barclays?
Barclays bank is a leading financial institution in the United Kingdom and offers a wide range of banking and financial services to both personal and business customers.
Barclays offers a wide range of personal banking products and services, including savings accounts, current accounts, mortgages, loans, and credit cards. Barclays also offers a range of business banking products and services, including business accounts, loans, and merchant services.
Barclays is a member of the FTSE 100 index and is listed on the London Stock Exchange. Barclays is headquartered in London and mainly operates in the United Kingdom.
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What mortgages does Barclays specialise in?
As a general guide, you may be able to get a mortgage from Barclays if you have a good credit history and a steady income.
Barclays offers a variety of mortgages for different types of customers, including first-time buyers, those looking to remortgage, buy to let investors mortgages and Shared Ownership schemes. Barclays also provides specialist green home mortgages and mortgages for Premier customers.
Barclays mortgage rates
Barclays offer fixed-rate mortgages with introductory periods from 2 to 10 years and tracker-rate deals.
However, there are a few things to keep in mind when you’re shopping for a mortgage.
First, make sure you know what you’re looking for. There are two main types of mortgages: fixed rate and variable rate. Fixed rate mortgages have an interest rate that stays the same for the life of the loan, while variable rate mortgages have an interest rate that can change over time.
Second, compare interest rates from a few different lenders. The interest rate you’re offered will depend on several factors, including how low your credit score is, the amount of money you’re looking to borrow, and the length of the loan.
Third, make sure you understand the fees associated with the mortgage. The lender typically charges some fees, such as the application and origination fees. Other prices, such as the appraisal fee and the closing costs, are paid by the borrower.
Finally, remember that the interest rate isn’t the only thing to consider when shopping for a mortgage. You’ll also want to consider the loan’s terms and conditions and the lender’s reputation.
Speaking to a mortgage advisor who can review all your options and ensure the mortgage is right for you may be your best option.
Switch product – Product transfer
You may be able to switch to a new rate through Barclays product transfer process. However, speaking to a mortgage advisor first is always a good idea. They can review the whole market to ensure you get the best deal possible. Plus, the mortgage advisor can handle the transfer for you. So you can save yourself some time and hassle.
How long does it take to get a mortgage offer from Barclays?
It typically takes two weeks from application to offer when applying with Barclays. However, the time frame might be longer if the deal is less straightforward due to bad credit, a non-standard property type, or complex self-employed income.
Declined a Barclays mortgage?
If you have experienced significant credit issues in the past, you may not be able to get a mortgage from Barclays. Barclays primarily deals with individuals with a good credit history, and individuals who have missed payments on their credit file are unlikely to be approved for a mortgage.
If Barclays declines your mortgage application, you should seek independent mortgage advice to see if you would qualify for a mortgage with another lender. The type of property you’re buying, your credit history, income, and the affordability of your mortgage payments all play a role in mortgage approval.
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Barclays bank is a leading financial institution in the UK and offers a wide range of banking and financial services to both personal and business customers.
Barclays offers a variety of mortgages for many customers, including first-time buyers, those looking to remortgage, buy to let investors mortgages and Shared Ownership schemes. Barclays also provides specialist green home mortgages and mortgages for Premier customers.
If you have experienced significant credit issues in the past, it may not be easy to get a mortgage from Barclays. This is because, like most mainstream lenders, Barclays primarily deals with individuals with a good credit history.
Consider speaking to a mortgage advisor who can review all your options and ensure the mortgage is right for you. Please complete our contact form if you want to talk with an expert mortgage advisor who can help with mortgages covering the whole market.