Barclays expands offset range

The deals being introduced are available until 20th September and include the 2-year offset tracker at 1.88% above BBR with a £1,499 fee at 70% loan to value.

A 2-year offset tracker available at up to 75% LTV will also be launched at 2.38% above BBR with a £999 fee.

Both deals revert to BBR +2.99% after the two years.

Barclays will also launch an offset lifetime tracker mortgage available at 70% LTV, available at 2.48% above BBR with a £999 fee.

Customers who qualify for a loyalty mortgage will have their rate reduced by 0.20% for the first two years.

All other offset deals remain unchanged.

The Woolwich offset can be linked to both current and savings accounts including cash ISAs, and tracks for the life of the mortgage.

Andy Gray, head of mortgages at Barclays, said: “Offset mortgages are now more valuable than ever. They are a win/win solution for borrowers as they can pay off their mortgage quicker, keep instant access on their savings and boost their savings rate with equivalent returns of more than 5%.

“The deals introduced today for a limited period, not only offer some of the most competitive offset rates on the market but are comparable with many general trackers which don't offset.”