Barclays

Barclays was founded in 1690, and it is one of the world’s premier financial services providers working in Europe, the U.S., the Middle East, Latin America, Australia, Asia, and Africa. They offer a range of financial services, including many choices of mortgages and insurance cover. Barclays offers fixed rate, tracker, and offset mortgages, as well as options for the first-time buyer, buy-to-let properties, and for those wishing to buy abroad. As for the fixed rate mortgages, Barclays offers one, two, five, and ten years at the fixed rate, after which time the rate will be set at Barclays Bank Base Rate. These fixed mortgages give you peace of mind, because you’ll know exactly how much you need to pay each month. There are options for payment holidays, as well as over and underpayments, during which time interest continues to be charged. Barclays’ tracker mortgages give you many options. Their lifetime tracker mortgages allow you to borrow different percentages of the price of your home, with respective APRs. There is no application fee, nor early repayment charges. Their one and two-year discounted trackers give you the Barclays Bank Base Rate minus .26% or .06% respectively, after which time you’ll get the BBBR plus certain percentages. These plans do have an application fee and an early repayment charge. The offset mortgage plan offered by Barclays potentially allows you to lower your monthly payments and the life of your mortgage by keeping a savings account with them that will not earn interest. In exchange, you’ll be offered a lower interest rate on your mortgage. This type of loan lets you borrow up to 95% of the value of your home. There is an application fee of ₤595; however, there is no early repayment charge. Barclays also offers home, car, travel, and health insurance cover. Their home insurance can include both buildings and/or contents, for which you’ll receive a 10% discount if you apply for both together. For building insurance, you can receive up to ₤500,000 cover and for contents, up to ₤50,000. They offer options for Finer Home Insurance and Buy-to-let properties as well. Barclays travel insurance can be applied to a single trip or for multiple trips. They offer a 24 hour Travel Assistant Helpline, Personal Accident Cover, Personal Public Liability, and medical expenses cover. If you are in the market for a mortgage or insurance, use our tools on SimplyFinance.co.uk to find the best company and product for you, keeping in mind that this article should not be interpreted as financial advice or as a recommendation by SimplyFinance to use any individual service or to invest with any company advertised or mentioned.