Barclays — Free UK Tool
Barclays Mortgage Overpayment
Calculator
Find out exactly how much interest you save and how many years you cut off your Barclays mortgage — including Barclays's specific overpayment rules and annual limits.
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Barclays Mortgage Overpayment Rules
How much can I overpay on my Barclays mortgage?
Barclays permits most customers to overpay up to 10% of their outstanding mortgage balance per year without incurring early repayment charges. This applies to fixed-rate Barclays mortgages. Barclays tracker mortgage customers can typically overpay by any amount without restriction. Always confirm your specific allowance with Barclays before making large overpayments.
How do I overpay my Barclays mortgage?
Barclays makes it straightforward to make mortgage overpayments. You can log in to Barclays online banking or the Barclays app and transfer additional funds directly to your mortgage account. You can also call Barclays Mortgage Centre on 0333 202 7580, or set up a standing order from your current account. Barclays also accepts lump sum overpayments at any time within your annual limit.
Barclays overpayment reserve — what is it?
One of Barclays' unique features is their overpayment reserve. When you make overpayments, Barclays builds up a reserve that you can draw upon later if needed. This means if you have overpaid, you may be able to take a payment holiday or temporarily reduce your monthly payment in the future — subject to Barclays' approval and your mortgage terms.
Will Barclays shorten my term or reduce my monthly payment when I overpay?
Barclays generally keeps your monthly payment the same when you overpay, which effectively shortens your mortgage term. This is the most financially beneficial approach. If you would prefer to reduce your monthly payment instead, you will need to contact Barclays and request this specifically.
What is Barclays' early repayment charge?
If you exceed your 10% annual overpayment allowance on a fixed-rate Barclays mortgage, you will be charged an early repayment charge (ERC). ERCs typically range from 1% to 5% of the overpayment amount, depending on how early you are in your fixed-rate period. The earlier you are in your deal, the higher the charge tends to be.
Also try our other calculators
We have dedicated overpayment calculators for all major UK lenders. Try our general mortgage overpayment calculator, Nationwide overpayment calculator, NatWest overpayment calculator, Halifax overpayment calculator, HSBC overpayment calculator, or Santander overpayment calculator.