My fixed rate period is about to end so I’m looking around at new deals. The barclays ad caught my eye as they are offering a tracker with the option of switching to a fixed rate for free when you want. Having been on their website and used the calculator it seems I could save approx £175 a month, which would be nice. If interest rates go up what are my chances of fixing it at a lower rate than I’m currently on? Seems a bit too good to be true!

does it say what the fixed rate would be….

Probably too good to be true. Barclays are 100% not very nice people who will eventually try to shaft you. They will never ever get any of my money again. Thieving bast4rds!
There are few companies that I truly hate, Barclays is one.

There will be a catch although if you forget the bit about swapping to a fixed rate £ 175 quid a month saving is pretty good. Just check it’s not a discounted introductory rate and check there’s no lock in period. Also look at any up front fees they may charge you, some banks now make their money charging exorbitant fees up front to cover a competitive interest rate. I was dead lucky and got tracker set at 0.5% above Bank of England base rate with no upfront fees just before the crash, not many of those around now and I think it was only on offer then because the bankers had got carried away with the credit boom.

They were nice enough to offer us BOEBR+0.18% a few years back too, under the Woolwich banner.

Got our mortgage with the Woolich who are owned by Barclays. Tracker .1 above Bank of England rate. Have been great to deal with

Probably too good to be true. Barclays are 100% not very nice people who will eventually try to shaft you. They will never ever get any of my money again. Thieving bast4rds!
There are few companies that I truly hate, Barclays is one.

Has no one else thought Why? And wanted to ask?

No?

Ok then.

Why’s that Don? If you wanna tell us anyways.

I’m thinking they were who you happened to be banking with when you stuffed things up don?

I have banked with Barclays for many years, they’ve always been great. I am often surprised by them going out of their way to help me out when I wasn’t expecting it. Branch staff are exceptionally nice and helpful. And they do cool stuff like when I moved overseas for a year and a bit, everyone else threw a wobbly but Barclays catered for me completely.

Yeah, they’re alright for me. I reckon don messed up big time and is blaming the bank. It’s what a lot of people do to make themselves feel better.

I’ll have you know I’ve never stuffed anything up don!! And I’m surprised that you could suggest such a thing!

During my time as a student they began repossession proceedings on my house after negotiating a single late payment due to student loan company cock up and late payment. Barclays agreed it was ok but still began proceedings. 😯

Also while drinking,shagging and having fun studying, Barclays decided to call in all overdrafts. I paid mine closed the account and changed banks. 3-4 months later I received a statement demanding over 300 quid. I called and spoke to the customer service girl. Apparently an 18 pound cheque was in the system and had grown to over 300 in 3-4 months and she was adamant that I should pay in spite of telling her that as I received statements every month when I had an account I wouldn’t consider anything beyond the first month. You owe 318 quid she said. Over half an hour and no movement from her, I was shouting, something I seldom do. Eventually she agreed to take the ‘debt’ to 30 quid and would write it off. No apology, nothing.
They’re scum.

Heck, nearly as bad as O2 then!

Well, if you will overlook financial stuff, don’t go whinging when you have to pay for being an eejit.

How’s Kala? 😛

Kala fine, she’s sat next to me licking her ar5e 🙄 , how Molly? Time for a doggy photo thread me thinks.

Business, init.

Business, init.

And that’s one of the reason’s I left the UK, full of ’em innit?

🙂

The mortgage you are looking at is essentially a capped rate mortgage.

A normal cap would track base rate plus a margin and then as it went up and hit the cap it would become a fixed rate mortgage.

Here, you have the option to switch to the fixed or stay tracker if you believed that base rates would come down before the end of the special rate period. I am presuming that once you exercise the option to switch you would not be able to switch back.

There will be a price to though I reckon and if you looked at Barclays similar tracker and fixed rate products then you would be paying a slightly higher monthly payment, this would be the cost of the option to switch.

Ho hum, none of this knowing what you’re taking about. Cut it out man. Let’s get back to choosing a mortgage on how friendly the staff are.

paulosoxo – Member
Ho hum, none of this knowing what you’re taking about. Cut it out man. Let’s get back to choosing a mortgage on how friendly the staff are.

😆