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Review of the Barclays, Fixed Rate Mortgage:

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Unexplained repayment terms

I have a BTL mortgage and wanted to repay some of the loan value and reduce the repayment term. Barclays suggested paying down the maximum without incurring any penalties. Great I thought, until they conveniently forgot to mention to me that if you pay more than 3 months worth of your usual monthly mortgage payment, they reduce your new monthly amount, BUT the term of the mortgage remains the same. I feel like Barclays were not transparent or clear enough at the time when I made my enquiries and should have been more honest. I wouldn't have even thought to ask them whether they had some sort of '3 month rule'. Lesson learnt! I will be moving to another lender now, once my term with Barclays is up in a few months time and will have cleared a big chunk of my mortgage. I wouldn't recommend Barclays. They are sneakyand dishonest. Reviewed on: 6th March 2020

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