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What is the difference between a Mortgage Reserve and a Barclays Savings Reserve?

April 26, 2017Barclays difference mortgage Reserve savings

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What is the difference between a Mortgage Reserve and a Barclays Savings Reserve?

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The Mortgage Reserve facility allows you borrow against any equity you might have within your property. The amount of Mortgage Reserve that may be available for your use will be the difference between the outstanding balance on your mortgage at any particular point in time and up to a maximum loan-to-value of 90% on your property. For flexible mortgages, interest is charged on the Mortgage Current Account at the Standard Variable Rate, except for Offset mortgages where interest is charged at the Offset mortgage rate and charged to the main mortgage account (for interest calculation purposes).