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Santander latest Lender to cut Rates

ended 22. April 2026

Santander is the latest lender to cut rates, as the market adjusts to the tentative stability in the Middle East.

As with many other lenders, prices are adjusting to the improved outlook, but we are still some way from the lows last seen in February - any more improvements to follow?

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4 responses from the Newspage community

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Justin Moy
Managing Director at EHF Mortgages
More improvement in the mortgage market as lenders look to encourage borrowers whilst accepting that the outlook is better than just a few weeks ago. Swap rates haven't improved significantly, suggesting that lender confidence is as important as pricing. The good news here is that both property buyers and remortgage borrowers see a benefit, grab the opportunity whilst you can.
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Richard Davidson
Mortgage Advisor at onlinemortgageadvisor.co.uk
Santander's move is another sign that the uncertainty is starting to ease in the run up to Easter. It's a confident move that suggests lenders are ready to compete for business again. It's not yet clear whether this pace of cuts will continue and take us back to the lows we saw in February, but with all eyes on the international situation, it's starting to feel like things are moving the right way at last
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Harry Goodliffe
Director at HTG Mortgages
Santander is the latest lender to cut rates, but it’s not a solo move. Several big lenders have been trimming rates over the past week, more of a slow nudge down than any dramatic drop. It still feels a bit early to call it a proper trend. Things are improving as the market adjusts to the tentative stability in the Middle East, but it’s twitchy and could turn again very quickly, so I wouldn’t be reading this as the start of a sustained fall in borrowing costs just yet.
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Ken James
Director at Contractor Mortgage Services
With Santander now joining Virgin Money, Barclays, Halifax and a growing list of lenders trimming mortgage rates, the industry is beginning to ask the question it has been avoiding, are we finally edging out of the worst of the disruption triggered by the Middle East conflict? On the surface, the momentum looks encouraging. As a rate‑cutting caravan of lenders is forming, and each new lender stepping forward adds weight to the idea that the market may be stabilising. After far to much swap‑rate volatility, and lenders pricing whiplash, any downward movement feels like a welcome shift. But let’s not pretend the sector is breathing easy. If we blink at the wrong moment, the ten o’clock news could still deliver another jolt. Markets remain hypersensitive, and confidence is still as fragile as the peace talks.