Barclays offers it customers the privilege of Tracker mortgages and offset mortgages. Barclays also offers many benefits which help the customers.
What are the benefits?
Most of the flexible mortgages are very easy to understand
Additional borrowing with Standard Variable Rate available.
There is payment holiday and privilege of making overpayment or underpayments
Fixed rates for the mortgage which help to know how much to pay
Barclays Bank Base Rate which helps to switch to a competitive rate even if the Mortgage is paid for fixed rates.
By paying 10% extra each year during the fixed rate period you will not incur early repayment charges
Types Of Mortgages:
Tracker Mortgages: These mortgages offer low rate of interest. Customers can get 80% of the value of their homes in this mortgage. APR of 6.2% exists for this mortgage.
Offset Mortgage: This mortgage helps to reduce the life term by 8 years and 8 months and thereby interest rate is reduced. Customers save up to £47,291/-. By comparison there is 6.2% APR and no early repayment charges.
The mortgage has options for money manager and open plan savings. These Barclays mortgage plans help to link savings and current accounts with the Mortgage. By doing so interest accrued in these accounts is taken into the Mortgage and thereby helping the customer saves thousands of pounds.
First Time Buyer Mortgage: First Time Buyer Mortgages helps to buy houses. This mortgage gives 2 year fixed rates helping the customer to budget their payments.
Barclays Mortgages help customer in all the ways. They also help in saving and budgeting which benefit the customer.
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