Thisismoney.co.uk - Two major mortgage lenders CUT rates: Is this a turning point and will more follow?

Two major high street banks have bucked the current trend by lowering rates on their mortgages.

From tomorrow, Santander will reduce many of its fixed rate and tracker deals by up to 0.3 percentage points. 

TSB is also making some cuts, including reducing its two-year fixed rates aimed at home buyers by up to 0.45 percentage points.

'We have a rare bit of good news in the mortgage market with Santander announcing that it is lowering the price of its fixed and tracker rates,' said Aaron Strutt of broker Trinity Financial.

'These changes hopefully mean that some of the other lenders will bring their rates down a bit as well.'

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