Barclays Offset Mortgage

Allena

Hi,

Does anyone have a Barclays Offset Mortgage? I will be starting mine next month having switched and I am wondering whether I need to open a new current account with them, or whether the mortgage account is the current account. Just looking for someone out there who has experience of the Barclays offset mortgage and could perhaps advise.

Thank you

AnotherJoe

I used to have one. It was linked to my Barclays current account.
I'm surprised yours isn't and that opening a bar clays current account wasn't part of the deal..
Speak to barclays and ask

Faith177

I think when I had mine years ago they set me up another account automatically when the mortgage went live but that was 10 years ago. When I paid it off it was downgraded to a normal account

getmore4less

Due to the problems with the reserve Barclays have changed the setup for offsets.

You used to get a mortgage current account and something they called openplan that you used to decide which accounts were in the offset umbrella (you could change these at any time)
Also the mortgage holders needed to have regular current accounts.


They hide the current brochure that covers how the offset works.

https://intermediaries.uk.barclays/content/dam/intermediaries-uk-barclays/pdf/useful-documents/residential/offset_customer_brochure.pdf

Looks like you will get a Mortgage current account automatically.