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NatWest, Barclays, Accord and TSB Rate Changes

ended 29. April 2026

Mostly down, but a few increases across the 4 lenders - looks to be more strategic where increases are shown (Barclays), as most lenders don't want to be the best at all product types and LTV's

Barclays - https://i.emlfiles4.com/cmpdoc/0/2/2/4/2/1/files/146763_13-rso.pdf

TSB - up to 0.35% Cut

NatWest - Up to 0.19% Cut https://www.intermediary.natwest.com/content/dam/natwest_com/Intermediary/intermediary-rates/2026-04-30NewBusinessSRFINAL.pdf

Accord - Up to 0.45% Cut

So lenders are trimming rates whilst swaps are not improving, in an attempt to keep the fragile market alive? Tactical rate increases where lenders are the cheapest, too.

Thoughts / Comments welcome :) 

5 responses from the Newspage community

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Justin Moy
Managing Director at EHF Mortgages
Very positive news, even with Swap rates rising a little over the last few days. Some lenders have been over-pricing to slow down activity for a while, but have cut margins and shown they want to help stimulate the market. Whilst the conflict is still 'live', even with a ceasefire, securing a new deal for a purchase or remortgage is important, ensuring you take advantage of this improved pricing, as you never know what may change or how quickly.
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Martin Rayner
Financial Adviser at Compton Financial Services
Mostly cuts, with a few targeted increases, shows this is not just about swap rates.

Lenders do not simply follow swaps. They manage capacity. If a lender is best buy across too many areas, they can get overwhelmed, leading to delays. Pricing is often adjusted to control demand as much as reflect cost.

There is also a case that lenders moved too quickly as swaps rose and priced slightly ahead. Now swaps have stabilised, we are seeing that unwind, with Accord’s cuts of up to 0.45% a clear example.

The key point is timing. Securing a rate matters, but so does reviewing it. A 0.25% drop on a £300,000 mortgage over five years is roughly £3,750 saved. Not all brokers revisit this, but it can make a real difference. This is why choosing the right broker is so important.
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Dariusz Karpowicz
Director at Albion Financial Advice
Positive movement, but worth treating with caution. Lenders are trimming margins to keep activity flowing, even with swap rates refusing to cooperate. Barclays raising select rates shows a tactical play, no lender wants to lead every best-buy table across all LTVs at once.
If you are purchasing or due a remortgage, secure a rate now. Most lenders allow a switch to a lower product before completion, so you protect your position if pricing falls further, and you avoid exposure if the market reverses. Waiting rarely pays off in conditions this changeable.
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Richard Davidson
Mortgage Advisor at onlinemortgageadvisor.co.uk
Lender pricing right now is being driven by short term volume control, nothing more. The cautious ones who under-priced are bringing rates down to win business back. The ones who've taken on as much as they want are nudging rates up to slow the flow. The net effect is a stable average with a lot of bouncing around it. That won't change until the next Bank of England meeting gives lenders a clearer steer on where rates are heading.
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Matthew Fleming-Duffy
Founder at Harbour Home Finance Ltd
For borrowers, this is a reminder that the ‘best rate’ is a moving target. Lenders adjust pricing regularly depending on demand and their position in the market, but they still need to lend to stay in business. These constant shifts highlight why good advice and timing are key, because the cheapest deal today may not be there tomorrow.