If your Barclays mortgage deal is coming to an end, it’s time to think about your next steps. At The Mortgage Pod, we specialise in helping you secure a new deal with Barclays—quickly, easily, and stress-free. We’ll handle the hard work so you can focus on saving money.
What is a Barclays product transfer?
A Barclays product transfer allows you to switch your current mortgage deal to a new one with Barclays. There’s no need to change lenders, and the process is simple. It’s ideal if your current deal is ending and you want to lock in a new rate.
Can I use a broker to arrange a Barclays product transfer?
Absolutely. A broker makes everything easier by:
- Reviewing your mortgage details and current deal.
- Finding the most competitive product transfer rates from Barclays.
- Managing the process from start to finish so you don’t have to lift a finger.
How does a Barclays product transfer work?
Here’s how the process works step by step:
- Review your mortgage: Check when your current deal ends and if any early repayment fees apply.
- Explore Barclays offers: Barclays will show you their available product transfer deals.
- Compare options: With a broker’s help, you can decide if Barclays’ deals suit your needs best.
- Confirm your deal: Choose the rate that works for you and let us handle the paperwork.
- Monitoring: We keep a close eye on things. If interest rates drop before completion, we’ve got you covered—we’ll update your deal to the lower rate.
- Switch over day: Your new deal with complete the day after your current one ends.
Why consider a Barclays product transfer?
- Simple and stress-free: No legal work or property valuation needed.
- Fast turnaround: Transfers are often completed within a few days.
- No affordability checks: If you’re not borrowing more, Barclays won’t reassess your finances.
- Stay with Barclays: Keep your mortgage in place without switching lenders.
Are there downsides to a Barclays product transfer?
There are a few things to keep in mind:
- Limited rates: You only have access to Barclays’ products, not the wider market.
- Potential savings elsewhere: Another lender might offer better rates.
- No additional borrowing: Product transfers don’t allow you to borrow extra—remortgaging may be better if you need funds.
How do I get the best Barclays product transfer deal?
Here’s how to make sure you’re getting the best rate:
- Act early: Don’t wait until your deal expires—secure a new rate in advance.
- Use a broker: We’ll compare Barclays’ offers and ensure you’re making the right move.
- Review your circumstances: A broker will help you decide whether a product transfer or remortgage is your best option.
What costs are involved with a Barclays product transfer?
The good news is that Barclays product transfers usually come with no extra costs:
- No legal fees.
- No property valuations.
However, some deals may have an arrangement fee, and switching before your deal ends could mean paying early repayment charges.
Can I change or cancel a Barclays product transfer before it completes?
Yes, you can. If you decide to cancel or amend your product transfer before the new deal goes live, you can do so without penalties. Once the deal completes, though, you’ll need to pay any applicable exit fees if you want to make changes.
How early can I secure a new Barclays rate?
You can reserve a new deal with Barclays up to 90 days before your current mortgage rate ends. This ensures you don’t get moved onto their Standard Variable Rate (SVR), which could cost more.
Is a product transfer the same as remortgaging?
No. A product transfer keeps your mortgage with Barclays and simply moves you to a new deal. A remortgage means switching your mortgage to another lender, which can open up options for additional borrowing or potentially better rates.
Why use a broker for your Barclays product transfer?
Working with a mortgage broker means:
- Expert support: We’ll check Barclays’ deals and make sure it’s the best option for you.
- Hassle-free process: We’ll take care of everything, saving you time and effort.
- Unbiased advice: If there’s a better option elsewhere, we’ll let you know.
Current mortgage with Barclays coming to an end?
Our team of expert Mortgage Advisers here at The Mortgage Pod specialise in Barclays product transfer mortgages and would love to help. Get Started here, phone us on 02392 989610 or email us on hello@themortgagepod.com. Then let us handle the rest.
FAQs
How long does a Barclays product transfer take?
Most transfers are completed within a few days, making the process quick and easy.
Can I lock in a new rate before my current deal ends?
Yes, Barclays allows you to secure a new rate up to 90 days in advance.
How is a product transfer different from a remortgage?
A product transfer keeps you with Barclays, while a remortgage moves your mortgage to another lender.
How do I get started with a Barclays product transfer?
Contact The Mortgage Pod! We’ll handle the entire process, making it smooth, simple, and stress-free.
