Your Barclays mortgage rate is coming to an end and that means you have a choice to make. You can accept whatever deal Barclays puts in front of you, or you can use an FCA-regulated broker to compare your options, secure the most competitive rate available, and earn cashback in the process. At Rate Switch Rewards, we handle the entire Barclays product transfer on your behalf at no cost to you.
What Is a Barclays Product Transfer?
A product transfer is when you move from one mortgage deal to another with your existing lender, Barclays, without changing the loan amount or the lender itself. There is no need to reapply for a mortgage, and in most cases the process takes less than 15 minutes. It is one of the most effective ways for existing Barclays customers to reduce their monthly payments when their current fixed or tracker rate expires.
Key Things to Know About Barclays Product Transfers
- You can arrange your Barclays rate switch up to six months before your current deal expires. Barclays allows you to lock in a new product up to six months before your current rate ends — giving you plenty of time to compare your options.
- There are no legal fees, no valuation fees, and no arrangement costs you have to pay upfront, though some rate products carry optional product fees which can be added to the mortgage balance
- Barclays offers a range of fixed-rate and tracker products for existing customers, covering residential and buy-to-let mortgages
- Barclays does not run a new credit check for a standard product transfer, which means your current credit position will not affect your ability to switch to a new deal.
- Barclays is one of the UK’s biggest banks and offers a wide range of residential and buy-to-let mortgage products. Their digital product transfer system is fast and efficient, with most offers generated automatically based on existing account data.
Calculate Your Rate Switch Cashback Reward
Use our cashback calculator below to see exactly how much you could earn by switching your Barclays rate through Rate Switch Rewards. The reward is paid directly to your bank account once your new mortgage completes.
How Long Does a Barclays Product Transfer Take?
In most cases, a straightforward Barclays product transfer can be completed the same day. Once we access your account details, we identify the available product options, email them to you for review, and submit the application once you have chosen your preferred rate. A mortgage offer is typically issued immediately.
If your transfer involves additional borrowing, a change to your mortgage term, or a switch to interest-only repayment, extra checks may be needed. We will let you know at the outset whether any of those factors apply to your case.
Can I Borrow Extra Money with a Barclays Product Transfer?
Yes — Barclays allows existing mortgage customers to apply for additional borrowing, subject to affordability and LTV criteria. This can often be processed alongside the product transfer.
Why Switch Through Rate Switch Rewards Rather Than Direct?
Many borrowers go directly to their lender when their rate expires. The problem is that Barclays has no obligation to offer you the most competitive deal available. As a whole-of-market broker, we compare Barclays’s product transfer rates against every available option. If staying with Barclays is your best move, we will confirm that with the numbers to back it up.
There is another risk in going direct. If you accept a rate today and rates fall before your new deal starts, you could end up paying more than necessary. We monitor rates on your behalf and will cancel and replace your accepted rate with a lower one if one becomes available before completion. That is something you simply cannot get by dealing with Barclays directly.
Benefits of Completing Your Barclays Product Transfer Through Us
- Whole-of-market comparison — we check Barclays’s rates against all available deals on the market
- Cashback paid directly to your bank account once the mortgage completes
- Rate monitoring — if rates drop after you accept a deal, we switch you to the lower one automatically
- No credit check required for a standard product transfer
- FCA-regulated advice — we are an Appointed Representative of Rosemount Financial Solutions IFA Ltd, FCA ref 535515
- Free service — we are paid by the lender, not by you
The Barclays Product Transfer Process Step by Step
- Share your details with us: Your Barclays mortgage account number is a 14-digit reference that appears on your annual mortgage statement and any Barclays mortgage correspondence. We use this to access your current mortgage account and review the available product options.
- Receive your quotes: We will email you a clear comparison of the rates Barclays is offering, alongside any better deals available on the wider market, so you can make a genuinely informed decision.
- Choose your rate: Once you have decided which product suits you best, simply let us know and we will submit the application on your behalf.
- We monitor your rate: After acceptance, we watch the market. If a lower rate becomes available before your new deal starts, we cancel the existing acceptance and secure the better rate for you.
- Cashback paid to you: Once your new Barclays mortgage completes and we receive our adviser fee from the lender, we pay your cashback directly into your bank account.
How Can Rate Switch Rewards Help with Your Barclays Product Transfer?
We are a team of FCA-regulated mortgage advisers specialising in product transfers and rate switches. We work with over 30 lenders including Barclays, and we use specialist software to compare products on a like-for-like basis, taking into account not just the headline rate but also arrangement fees, early repayment charges, and term length.
If you are unsure whether a product transfer is the right move, or whether remortgaging to a new lender would save you more, we will give you an honest answer. Our job is to find you the best deal.
Ready to find out how much your Barclays product transfer could earn you? Use the calculator above or complete our short form and we will be in touch.
Your home may be repossessed if you do not keep up repayments on your mortgage. The Financial Conduct Authority does not regulate some forms of buy-to-let mortgages.
