Frequently Asked Questions – FAQs

What does Barclays Mortgage offers?

Barclays Mortgage offers the following range of products to meet customers’ home financing needs:

1. Home Purchase Facility
   Finance facility for purchasing a fully constructed residential property.
2. Home Construction Facility
   Financing facility for the purpose of construction on already owned residential plot.
3. Home Renovation Facility
   This facility is offered for the purposes of carrying out repairs / improvements / extensions on the already built home on existing owned residential property.
4. Balance Transfer Facility
   Customers having outstanding mortgage facility with other banks would be offered the option to transfer their outstanding balance to Barclays Mortgage facility. Balance Transfer facility will also be offered with a component of top up portion for renovation.
5. Barclays Mortgage Facility (enhancement)
   This financing is offered to existing customers wherein there existing limit will be enhanced and top up amount would be disbursed for renovation on the existing mortgaged property only.

Who is eligible for Barclays Mortgage?

Customer must be an existing Barclays liability customer (Premier or Mass) in order to avail Barclays Mortgage.

Can a fresh liability customer apply for Barclays Mortgage?

No, a fresh liability customer cannot apply for Barclays Mortgage. The liability relationship tenure for Premier customer should be of minimum 1 month & for Mass customer it should be of minimum 3 months.

What would be the tenure of the facility?

Barclays Mortgage is available for minimum 3 years and maximum 20 years. You can choose the tenure of your facility anywhere between 3 and 20 years.

What is the maximum loan size offered by Barclays Mortgage?

Barclays Mortgage offers financing from Rs 0.5 Million to Rs 50 Million depending upon the product category & criteria.

Can I transfer my existing home loan to Barclays Mortgage?

With our Balance Transfer Facility (BTF), you can transfer your existing home loan facility with another bank to Barclays Mortgage.

How much time will it take to process my application?

The processing time required from the time you handover your application with all documentation till the disbursement of the amount will take approximately 12 – 15 working days subject to submission to completion of all necessary formalities.

Will my application be going through some verification?

Your application will undergo the following verifications, no matter which product category or segment you belong to.

• Telephonic verification of office, residential address & references
• Physical verification of office &  residential address
• Verysis Verification
• Data check
• E-cib
• Collateral Verification

What are the modes of Repayments?

• Direct Debit
• Cash / Cheques at Counter
• Drop Box

Can I Partially Payoff my Barclays Mortgage Facility before its maturity?

Yes. You can partially payoff your facility anytime during the term of the facility. A 4% fee on your partial payoff amount will be charged to you as a partial payoff fee.

How can I Partially Payoff my Barclays Mortgage?

You will have to visit our Service Center, where our customer service officer will guide you in filling out the Partial Payment Form placed at all our Service Centers. After filling the form you will visit the nearest Barclays branch in your locality & will deposit the payment in to the branch in your mortgage account by using branch deposit slip.

After depositing the payment in the account, you will then again visit the service center and will submit the deposit slip & partial payment form to the customer service officer who will forward it to our Asset Operations department.

Can I Payoff my Barclays Mortgage Facility before its maturity?

Yes. You can payoff your facility anytime during the term of the facility. A 4% fees on your outstanding balance will be charged as en early pay off fee.

How & who will provide the Property Insurance of my property?

Barclays Bank will offer complimentary property insurance to all its Barclays Mortgage customers during the tenure of the facility.

What is LTV?

LTV stands for Loan to Value ratio.
For example, if the property value is of Rs 10 Million, customer will get 80% of the financing from Barclays Mortgage Loan Facility, i.e, 8 Million, the rest of Rs 2 Million will have to arrange by customer as his / her own equity.

Who should I contact if I have any further queries?

1. Sales representative, if one has already been assigned
2. Call centre on 111-CALL US
3. Any nearest Branch or Sales & Service Centre