Accessing Your Barclays Mortgage Reserve: A Step-By-Step Guide

Barclays no longer offers a mortgage reserve service for new customers. However, if you already have a mortgage reserve, you can continue to use the account up to your agreed limit. You can access your mortgage reserve through the Barclays app or online banking. You can also manage your mortgage reserve by calling 0333 202 7573 or in a branch. Remember, you'll need to repay the balance of your mortgage reserve by the end of your mortgage term.

Barclays Mortgage Reserve

Barclays no longer offers mortgage reserve services to new customers

If you are an existing customer with a Mortgage Reserve, you can continue to use the account up to your agreed limit. It is important to note that you will need to repay the balance of the Mortgage Reserve by the end of your mortgage term. You can make payments into your Mortgage Current Account at any time to reduce your borrowing. You can do this online, in a branch, or by calling Barclays. Remember that if no repayments are made, the interest will continue to accrue on the increasing balance.

For offset mortgages, Barclays charges interest at the same rate as your main mortgage account. If your mortgage is not offset, the bank charges interest at the Bank of England Base Rate plus 3.49%. Interest will be charged if you use money from your reserve account and do not have enough credit balance. It is the responsibility of the customer to ensure that the reserve account balance is repaid in full by the end of the mortgage term, as it is taken out against your property.

While you can no longer apply for or increase a mortgage reserve, Barclays may offer exclusive rates if you have a Premier mortgage and want to switch. You can also explore other options, such as borrowing more, switching your rate, or managing your mortgage through Barclays' app or online banking.

Existing customers can access their reserve until they repay their mortgage

Barclays no longer offers a mortgage reserve service to new customers. However, if you are an existing customer, you can continue to access your reserve until you repay your mortgage. This means you can use your reserve up to your agreed limit.

A mortgage reserve is a secured overdraft on a Barclays mortgage current account, where you borrow against the equity in your home. You will need to repay the reserve by the end of your mortgage term as it is taken out against your property. You can make payments into your Mortgage Current Account at any time to reduce your borrowing on your Reserve. You can do this online, in a branch, or by calling 0333 202 7573.

If you do not make any repayments, interest will continue to accrue on the increasing balance. You will be charged interest if you use money from your reserve account and do not have enough credit balance to offset it. Therefore, it is important to ensure that you have paid back any money borrowed from your reserve account in full by the end of your mortgage term.

For offset mortgages, Barclays charges interest at the same rate as your main mortgage account. If your mortgage is not offset, the interest charged is at the Bank of England Base Rate plus 3.49%.

You can repay your Mortgage Reserve by paying into your Mortgage Current Account

Barclays no longer offers a mortgage reserve service to new customers. However, if you already have a Mortgage Reserve, you can continue to use the account up to your agreed limit. You'll need to repay the balance of the Mortgage Reserve by the end of your mortgage term.

If you do not make any repayments, interest will continue to accrue on the increasing balance. Any borrowing on a Mortgage Reserve must be repaid on or before the end of the mortgage term. This is because the reserve is taken out against your property, so you'll need to ensure that you've paid back any money borrowed from your reserve account in full by the end of the term.

For offset mortgages, Barclays charges interest at the same rate as your main mortgage account. If your mortgage isn't offset, the interest rate charged is the Bank of England Base Rate plus 3.49%. Interest will be charged if you use money from your reserve account and don't have enough credit balance to offset it.

You can make these payments online, in-branch or over the phone

Barclays no longer offers a mortgage reserve service to new customers. However, if you already have a mortgage reserve, you can continue to use the account up to your agreed limit. You can make payments into your Mortgage Current Account at any time to reduce your borrowing. You can make these payments online, in-branch, or over the phone.

To make a payment online, you can use the Barclays app or Online Banking. The app is a secure way to manage your mortgage 24 hours a day, and you don't need to have a current account with Barclays to use it. You can also apply to borrow more, switch to a new rate, or get help if you're concerned about your ability to make payments.

To make a payment in-branch, simply visit your nearest Barclays branch during business hours. You can find the location and business hours of your nearest branch by using the branch locator on the Barclays website or by contacting customer service.

To make a payment over the phone, call 0333 202 7573. Phone lines are open Monday to Friday from 8 am to 9 pm, Saturday from 9 am to 8 pm, and Sunday from 10 am to 4 pm. Please note that Barclays may monitor or record phone calls to maintain a quality service. Standard call charges apply.

Remember, any borrowing on a Mortgage Reserve must be repaid on or before the end of the mortgage term. If no repayments are made, interest will continue to accrue on the increasing balance. Your home may be repossessed if you do not keep up with repayments on your mortgage.

Barclays offers exclusive rates if you want to switch your Premier Mortgage

Barclays no longer offers a mortgage reserve service. However, if you have a Premier Mortgage with Barclays, you can get exclusive rates if you want to switch to a new deal. You can switch your rate online or on the Barclays app, but you need to be 18 or older to access this service in the app. You can also book an appointment to get help choosing a rate or making other changes. Barclays' mortgage team can help if you want to borrow more, change your term, or make any other changes.

You can arrange to switch up to 90 days before your current rate ends, or switch now if you're already on the follow-on rate. Barclays will not charge you any legal or valuation fees, and there are no income or affordability assessments when you switch. However, you may have to pay a product fee.

You can get access to exclusive deals before you switch by calling Barclays on 0333 202 7578. Barclays' Financial Guides can support you with your goals and help you plan for your future. They are available Monday to Friday from 8 am to 6:30 pm and on Saturdays from 9 am to 3:30 pm.

You can also refer to the Barclays mortgage support hub to see the options available to you and the latest details on interest rate changes and switching.

Frequently asked questions