Double click here to edit Header component
Signpost is empty.Double click here to edit it in Header component

Strategy

Hub Hero
Parsys 1
Preparing for ring-fencing
About us

Mortgages

Which part of Barclays will I be in?

The requirement to ring-fence retail banking means that we are creating a new legal entity, Barclays ring-fenced bank, for our retail services (including Premier & Mortgages). Most customers and clients will continue to have access to the same products and services they have now, and will be able to keep banking the way they’re used to, be it over the phone, in-branch or via your relationship manager.

  • Certain Terms and Conditions will need to change, principally to ensure that our customer and client contractual relationships continue to work in light of our new structure, and to comply with ring-fencing requirements. An example of this is changing references in customer and client agreements from BBPLC to the new name of our ring-fenced bank.

FAQ

  • I pay my mortgage by direct debit; how do these changes affect me?

    From 1 February 2018, the details of the Direct Debit mandate for your mortgage payment, which you see on your bank statement, will read ‘Barclays UK Mtges’.

    You don’t need to take any action.

    I pay my mortgage by debit/credit card; how do the changes affect me?

    The name of the organisation to which you make your mortgage payments has changed on your bank statements from Woolwich/Barclays to Barclays Mortgages.

    You don’t need to take any action.

    I pay my mortgage by cheque; how do these changes affect me?

    In 2018 we’ll retire the Woolwich brand. As a result, all cheques issued by our mortgage team will be Barclays branded.

    From 1 February 2018, you’ll need to make your cheques payable to Barclays.

    I pay my mortgage by standing order; how do these changes affect me?

    We have made an internal change to how we process standing order payments.

    You don’t need to take any action.

    I pay my mortgage by cash; how do these changes affect me?

    We have made an internal change to the sort code of the account to which you make your mortgage payment.

    If you pay your mortgage by cash, please go into your nearest branch to find out the new sort code.
     

  • How do these changes affect Barclays Bank Base Rate?

    If you have a mortgage that tracks (or will track in the future) the Barclays Bank Base Rate, creating the ring-fenced bank will change your mortgage agreement.

    This means your mortgage interest rate will no longer refer to Barclays Bank Base Rate and will use the rate set by the Bank of England, the Bank of England Base Rate (or in the event that the Bank of England Base Rate no longer exists, such replacement rate as the ring-fenced bank may specify).

    Barclays Bank Base Rate tracks the Bank of England Base Rate, but is not always guaranteed to do so. This change itself will not change your monthly repayment, however your mortgage rate will instead track the Bank of England Base Rate.

    As Barclays Bank Base Rate has been the same as the Bank of England Base Rate for many years, you should see no difference to the way you bank.

    Do these changes have tax implications for residents outside of the UK?

    We do not believe these changes will impact your tax position if you’re a non UK resident.

    We don’t believe these changes will impact your tax position. However, as Barclays does not provide tax advice, we suggest you speak to a tax advisor.

    How do these changes affect cheques produced by Barclays Mortgages?

    In 2018 we’ll replace Woolwich and Barclays branding with Barclays only branding within our mortgage operations team. As a result, cheques issued by our mortgage team will be Barclays only branded.

    You don’t need to take any action.



Parsys 2
Parsys 3
Parsys 4
Parsys 5
Parsys 6
Parsys 7
Parsys 8
Parsys 9
Parsys 10
Parsys11
Parsys 12