Customers may choose between several different types of offset mortgage from Barclays, they categorised as offset tracker mortgages, 2 year offset mortgages, and offset loyalty mortgages (with a current account.
Barclays offset mortgage deals also come with several useful benefits that may be of interest to customers, such as:
- The opportunity to make overpayments (although charges may apply on full redemption of the mortgage)
- Customers can link up to 12 eligible Barclays accounts should they wish
- All offset mortgage accounts come with online banking facilities
A Barclays offset mortgage would perhaps be best suited for customers who can afford to invest their savings on a long term basis. It is important to remember that withdrawing money from an offset mortgage account can often substantially increase the cost of repayments, so customers should take care to manage their finances effectively.