Halifax lowering its fixed rate mortgages as Santander and Nationwide offer rates below 4.5%

Halifax has announced that it is lowering many of its fixed-rate mortgages on Monday 24 August. 

The lender is lowering selected homemover and first-time buyer fixed rates by up to 0.11 percentage points, while its 40% deposit two-year remortgage fix with a £1,999 product fee will fall by 0.13 percentage points.

The cheapest mainstream fixed rates are currently around the mid-4% range. Santander has a leading two-year fixed rate at just below 4.5% and Nationwide's rate is only marginally higher, but most two-year fixes are priced above 4.5%. Five-year fixed rate mortgages start from around 4.50%, with many of the major lenders charging more than 4.6% even with a 40% deposit. 

For many borrowers, mortgage rates are therefore still more expensive than they had hoped they would be at this stage of 2026. The Bank of England base rate remains at 3.75%, while elevated longer-term borrowing costs continue to put pressure on fixed-rate pricing. 

Higher earners can access cheaper Lloyds Premier mortgage rates

Borrowers earning £100,000 or more may have access to more competitive deals through the Lloyds Premier mortgage range, available through Trinity Financial via Halifax for Intermediaries.

Current Lloyds Premier mortgage options include:

• Sub 4.40% two-year fixed rate

• Sub 4.45% three-year fixed rate

• Just over 4.45% five-year fixed rate

Eligibility criteria apply, including the requirement to have or open a qualifying Lloyds Premier current account. These deals demonstrate why higher earners should not necessarily rely on the standard best-buy tables when searching for a mortgage. Some lenders offer preferential pricing, enhanced affordability or specialist products for borrowers with larger incomes.

Barclays 3.99% tracker remains an attractive alternative to fixing

Tracker mortgages are also worth considering for borrowers prepared to accept a variable monthly payment.

Barclays continues to offer a particularly competitive 3.99% two-year tracker, making it considerably cheaper initially than many of the leading fixed-rate mortgages.

A tracker will normally rise or fall if the Bank of England base rate changes, so it will not suit everyone. However, borrowers who want greater flexibility or who believe fixed rates could become more competitive may want to compare trackers alongside two and five-year fixes.

Lenders compete on how much they will lend

Mortgage rates are only part of the story. Banks and building societies are increasingly competing by improving their lending criteria and affordability calculations.

HSBC has recently increased maximum mortgage loan sizes across a range of loan-to-value bands, giving borrowers looking for larger mortgages more options. Santander has also previously increased maximum loan sizes on parts of its range. 

Other lenders have raised their maximum income multiples, meaning some borrowers may be able to obtain significantly larger mortgages than they would have qualified for previously.

This increased competition is particularly useful for first-time buyers, higher earners, home movers and borrowers requiring larger mortgages, where the difference between one lender's affordability calculation and another's can run into tens or even hundreds of thousands of pounds.

Aaron Strutt, product director at Trinity Financial, says:  “Fixed mortgage rates are heading in the right direction again, but they are not falling quickly enough to generate much excitement among borrowers. 

“Many homebuyers were hoping we would have considerably cheaper mortgages by this stage of the year, particularly after the reductions we saw earlier in 2026. There are still some standout deals. Higher earners can access Lloyds Premier rates that undercut much of the mainstream market, while Barclays' 3.99% tracker remains particularly competitive.

“The interesting development is that lenders are increasingly competing on criteria as well as price. We are seeing higher income multiples, larger maximum loans and more generous affordability calculations, which can sometimes be just as important as securing the lowest headline mortgage rate.”

Compare the latest mortgage rates and borrowing limits

Trinity Financial's brokers compare mortgages from banks, building societies, specialist lenders and private banks.

If you are buying a property, remortgaging or want to know how much you can borrow, our brokers can compare the latest fixed and tracker rates alongside lenders' affordability calculations to establish which options are available.

Mortgage rates and lending criteria can change at short notice and are subject to individual circumstances, loan-to-value, property type and lender criteria.

Call Trinity Financial on 020 7016 0790 to secure a mortgage, book a consultation, or complete our mortgage questionnaire. 

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

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