Check back weekly or favourite this page to keep an eye on the ever-changing rates.
Check back weekly or favourite this page to keep an eye on the ever-changing rates. The table below is updated as of November 12, 2024 and rates are subject to change.
Barclays tracker mortgage, 2-year term
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| BARCLAYS | 2 year Offset Tracker at BEBR + 1.22% for 2 years Residential Purchase Offset | 2 years | 5.97% | 6.9 APRC | £1749.00 | 75% |
| BARCLAYS | 2 year Tracker at BEBR + 0.15% for 2 years Rate | 2 years | 4.96% | 6.7 APRC | £999.00 | 60% |
| BARCLAYS | 2 year Tracker at BEBR + 0.36% for 2 years Rate | 2 years | 5.11% | 6.7 APRC | £999.00 | 75% |
| BARCLAYS | 2 year Tracker at BEBR + 0.76% for 2 years Rate | 2 years | 5.51% | 6.8 APRC | £999.00 | 85% |
| BARCLAYS | 2 year Tracker at BEBR + 1.10% for 2 years Rate | 2 years | 5.85% | 6.8 APRC | £999.00 | 90% |
| BARCLAYS | 2 year Tracker at BEBR + 0.50% for 2 years Premium Exclusive Rate | 2 years | 5.25% | 6.7 APRC | £0.00 | 75% |
| BARCLAYS | 2 year Tracker at BEBR + 0.35% for 2 years Rate | 2 years | 5.10% | 6.6 APRC | £1999.00 | 60% |
| BARCLAYS | 2 year Tracker at BEBR + 0.55% for 2 years Rate | 2 years | 5.30% | 6.7 APRC | £1999.00 | 70% |
| BARCLAYS | 2 year Tracker at BEBR + 0.57% for 2 years Rate | 2 years | 5.32% | 6.7 APRC | £1999.00 | 75% |
| BARCLAYS | Residential Remortgage Offset Tracker at BEBR + 1.22% | 2 years | 5.97% | 6.9 APRC | £1749.00 | 75% |
| BARCLAYS | Residential Remortgage Tracker at BEBR + 0.15% | 2 years | 4.96% | 6.7 APRC | £999.00 | 60% |
| BARCLAYS | Residential Remortgage Tracker at BEBR + 0.36% | 2 years | 5.11% | 6.7 APRC | £999.00 | 75% |
| BARCLAYS | Residential Remortgage Tracker at BEBR + 0.76% | 2 years | 5.51% | 6.8 APRC | £999.00 | 85% |
| BARCLAYS | Residential Remortgage Tracker at BEBR + 0.50% Premium Exclusive | 2 years | 5.25% | 6.7 APRC | £0.00 | 75% |
| BARCLAYS | Residential Remortgage Tracker at BEBR + 0.35% | 2 years | 5.10% | 6.6 APRC | £1999.00 | 60% |
| BARCLAYS | Residential Remortgage Tracker at BEBR + 0.55% | 2 years | 5.30% | 6.7 APRC | £1999.00 | 70% |
| BARCLAYS | Residential Remortgage Tracker at BEBR + 0.57% | 2 years | 5.32% | 6.7 APRC | £1999.00 | 75% |
| BARCLAYS | Existing Residential Mortgage Customers Reward Tracker | 2 years | 4.89% | 6.6 APRC | £999.00 | 60% |
| BARCLAYS | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.24% | 6.6 APRC | £0.00 | 60% |
| BARCLAYS | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.11% | 6.7 APRC | £999.00 | 75% |
| BARCLAYS | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.25% | 6.6 APRC | £0.00 | 75% |
| BARCLAYS | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.61% | 6.7 APRC | £99.00 | 80% |
| BARCLAYS | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.21% | 6.7 APRC | £999.00 | 90% |
| BARCLAYS | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.95% | 6.8 APRC | £0.00 | 90% |
| BARCLAYS | Existing Residential Mortgage Customers Reward Offset Tracker | 2 years | 5.97% | 6.9 APRC | £1749.00 | 80% |
| BARCLAYS | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.10% | 6.6 APRC | £1999.00 | 70% |
| BARCLAYS | Existing Residential Mortgage Customers Reward Offset Tracker | 2 years | 6.65% | 7.0 APRC | £1999.00 | 70% |
| BARCLAYS | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.69% | 8.8 APRC | £1795.00 | 65% |
| BARCLAYS | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.77% | 8.9 APRC | £1795.00 | 75% |
| BARCLAYS | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 6.30% | 8.9 APRC | £0.00 | 75% |
| BARCLAYS | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.90% | 8.8 APRC | £1795.00 | 60% |
Barclays tracker mortgage, 5-year term
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| BARCLAYS | 5 year Offset Tracker at BEBR + 1.25% for 5 years Residential Purchase Offset | 5 years | 6.00% | 6.7 APRC | £1749.00 | 75% |
| BARCLAYS | 5 year Tracker at BEBR + 0.60% for 5 years Rate | 5 years | 5.35% | 6.4 APRC | £999.00 | 60% |
| BARCLAYS | 5 year Tracker at BEBR + 1.00% for 5 years Rate | 5 years | 5.75% | 6.6 APRC | £999.00 | 85% |
| BARCLAYS | Residential Remortgage Offset Tracker at BEBR + 1.25% | 5 years | 6.00% | 6.7 APRC | £1749.00 | 75% |
| BARCLAYS | Residential Remortgage Tracker at BEBR + 0.60% | 5 years | 5.35% | 6.4 APRC | £999.00 | 60% |
| BARCLAYS | Residential Remortgage Tracker at BEBR + 1.00% | 5 years | 5.75% | 6.6 APRC | £999.00 | 85% |
| BARCLAYS | Existing Residential Mortgage Customers Reward Tracker | 5 years | 5.35% | 6.3 APRC | £999.00 | 60% |
| BARCLAYS | Existing Residential Mortgage Customers Reward Tracker | 5 years | 5.75% | 6.5 APRC | £999.00 | 85% |
| BARCLAYS | Existing Residential Mortgage Customers Reward Offset Tracker | 5 years | 6.00% | 6.7 APRC | £1749.00 | 80% |
Barclays Tracker Mortgage FAQs
Is it good to be on a Barclays tracker mortgage?
A tracker mortgage in the UK with Barclays is a type of variable rate mortgage that is tied to the Bank of England's base rate or another benchmark rate. The interest rate on a tracker mortgage will move up or down in line with the base rate, so your monthly repayments will change as a result.
Whether a tracker mortgage is good for you or not depends on your individual circumstances and preferences. Here are some things to consider:
Advantages of a Barclays tracker mortgage:
- Potentially lower interest rates: Tracker mortgages often start with a lower interest rate than fixed rate mortgages, which can make them attractive to borrowers.
- Flexibility: If the base rate drops, your mortgage payments will go down, potentially giving you more money in your pocket each month.
- Transparency: Since the interest rate is tied to a benchmark, you can see exactly how your mortgage payments are being calculated.
Disadvantages of a Barclays tracker mortgage:
- Potential for higher payments: If the base rate increases, your mortgage payments will also increase, potentially putting a strain on your budget.
- Uncertainty: With a variable rate mortgage, you don't know exactly how much you will be paying in the future, which can make it difficult to plan your finances.
- Risk: Tracker mortgages are riskier than fixed rate mortgages, as the interest rate can fluctuate. If interest rates rise substantially, you could find yourself struggling to keep up with your mortgage payments.
If you are comfortable with the potential for your mortgage payments to go up or down and want to take advantage of potentially lower interest rates, a tracker mortgage may be a good option for you. However, if you prefer the stability of fixed payments and want to know exactly how much you will be paying each month, a fixed rate mortgage may be a better choice. It's important to consider that, at this time, Barclays is the only major bank or lender offering a 5-year tracker mortgage.
Is tracker mortgage better than fixed rate?
Deciding whether to choose a tracker mortgage or a fixed-rate mortgage in the UK is subject to personal circumstances, preferences, and the prevailing economic environment. Here are some factors to consider when comparing tracker and fixed-rate mortgages:
We looked at the pros and cons of tracker mortgages above, so you can compare that to the advantages and disadvantages of fixed rate mortgages below.
Fixed-Rate Mortgage advantages:
- Certainty: A fixed-rate mortgage provides certainty for a specified period, typically two to five years, making it simpler to budget and plan for mortgage payments.
- Protection: If interest rates increase, fixed-rate mortgages provide security by keeping monthly payments the same.
- Peace of mind: A fixed-rate mortgage can alleviate financial strain by providing stable mortgage payments.
Fixed-Rate Mortgage disadvantages:
- Less flexibility: Fixed-rate mortgages may have restrictions on overpayments, limiting the ability to pay off a mortgage quickly.
- Higher initial interest rates: Fixed-rate mortgages usually have higher interest rates at the outset, resulting in higher costs in the short term.
Deciding whether to opt for a fixed-rate mortgage or a tracker mortgage primarily depends on personal circumstances and preferences. Those who prioritize transparency and flexibility, and are willing to take on some risk, may find a tracker mortgage more suitable for their needs. On the other hand, individuals who value certainty and protection against the risk of rising interest rates may prefer a fixed-rate mortgage.
What does a tracker mortgage track with Barclays?
In the United Kingdom, all tracker mortgages are linked to the Bank of England's base rate—Barclays' tracker mortgages are no exception. The interest rate on a tracker mortgage varies based on the base rate, which is set by the Bank of England's Monetary Policy Committee. This implies that if the base rate rises or falls, the mortgage interest rate will follow.
For instance, suppose the current base rate is 0.5%, and a tracker mortgage has an interest rate of 1% above the base rate. In that case, the mortgage interest rate would be 1.5%. If the base rate increased to 1%, the mortgage interest rate would also increase to 2%. Similarly, if the base rate fell to 0.25%, the mortgage interest rate would decrease to 1.25%.
The main advantage of a tracker mortgage with Barclays is transparency. Borrowers know how much interest they will be charged each month based on the Bank of England's base rate, enabling them to plan their finances and budget more effectively. However, tracker mortgages carry a certain level of risk since borrowers' monthly payments can rise if the base rate increases.
Can you get out of a tracker mortgage?
Yes, it is possible to switch out of a tracker mortgage in the UK. However, there may be some costs and fees involved, and it's important to carefully consider whether switching is the right decision for your individual circumstances.
If you're still in the initial period of your tracker mortgage (usually between two and five years), there may be early repayment charges (ERCs) to pay if you want to switch to a different mortgage deal before the end of the initial term. These charges can be significant, so it's important to check the terms of your mortgage agreement before making a decision.
If you're outside the initial period of your tracker mortgage, you may be able to switch to a different mortgage deal without incurring ERCs. However, you should still check the terms of your mortgage agreement, as there may be other fees involved in switching, such as valuation fees or legal fees.
Before switching out of a tracker mortgage with Barclays, it's important to carefully consider your options and seek advice from a mortgage advisor or financial professional. Depending on your individual circumstances and the current economic environment, it may be more advantageous to stay with your tracker mortgage or switch to a different type of mortgage.
