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About us

Mortgages

The following page explains the changes that have taken place for customers that have moved from Barclays Bank PLC into our new ring-fenced bank on 1 April 2018.

Which part of Barclays am I in?

Our UK Retail Mortgages have been transferred to the new ring-fenced bank, Barclays Bank UK PLC (BBUKPLC) as of April 2018.

Mortgage customers and clients continue to have access to the same products and services as they did before, and are able to keep banking the way they’re used to, via online or mobile banking, over the phone, in-branch or via their relationship manager.

However, we’ve written to those customers whose mortgages will remain with Barclays Bank PLC; these include:

  • Lending against offshore properties 
  • Certain foreign currency mortgages
  • Borrowers with complex lending requirements
  • Lending to Special Purpose Vehicles (SPVs) and Trusts
  • Mortgages that operate under Gibraltar law
  • Credit facilities for Relevant Financial Institutions (RFIs) 
  • Certain Private Bank clients who have elected to bank with Barclays Bank PLC

How does this affect me since I was not transferred to the ring-fenced bank?

There have been no changes to your mortgage arrangements.

What does it mean now that I have transferred to the ring-fenced bank?

You can now see some minor changes to the way we manage your mortgage payment and how your mortgage operates. You can find out more about these changes in the Frequently Asked Questions below.

  • Certain Terms and Conditions have changed, 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. Examples of this include:

    • Changing references from Barclays Bank PLC to the new name of our ring-fenced bank, Barclays Bank UK PLC;
    • If necessary, changes to confirm that your data may be shared between our ring-fenced bank (Barclays Bank UK PLC), Barclays Bank PLC, their respective subsidiaries and other parts of the Barclays Group. For more information about personal data specifically, please refer to the link ‘Using and sharing my personal data after ring-fencing’ below;
    • If necessary, changes to ensure existing bank rights are preserved with respect to set-off and rights of deduction on transfer from Barclays Bank PLC to our ring-fenced bank; and 
    • Changes to mortgages that track (or will track in the future) the Barclays Bank Base Rate such that 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. For more information, please refer to “Changes to how your mortgage operates” below.
  • The way in which we handle your personal data, including your account details and contact information, as well as the purpose for holding it and way it is used, will remain as set out in your customer agreement or other product or service documentation. We will be under the same obligation to uphold your data protection rights and to keep personal data secure.

    Your personal data may be shared between our ring-fenced bank (Barclays Bank UK PLC), Barclays Bank PLC, their respective subsidiaries and other parts of the Barclays Group.

  • Certain liabilities of Barclays Bank PLC have been transferred to the ring-fenced bank, where the business to which these relate has also transferred. These include any liabilities in relation to products that have moved to the ring-fenced bank under the ring-fencing transfer scheme, the sale of payment protection insurance to any UK customers of Barclays Bank PLC and the sale of interest rate hedging products which are linked to products (such as loans) that have transferred to the ring-fenced bank.

    Any ongoing or future proceedings (including claims or complaints before any court, governmental or regulatory authority or ombudsman (including the UK Financial Services Ombudsman)) being brought by or against Barclays Bank PLC have been transferred to the ring-fenced bank (in respect of liabilities or the business that have transferred to the ring-fenced bank).

Mortgages

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

    As of 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’.

    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.

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

    In 2018 we have retired the Woolwich brand. As a result, all cheques issued by our mortgage team are now Barclays branded and 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.

    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 has changed 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).

    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.

    How do these changes affect cheques produced by Barclays Mortgages?

    In 2018 we have replaced Woolwich and Barclays branding with Barclays only branding within our mortgage operations team. As a result, cheques issued by our mortgage team are Barclays only branded.




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