Santander is the latest big bank to lower mortgage rates with fixes priced below 4.45%

by Aaron Strutt

Jun 02 2026

Santander has joined the growing list of major mortgage lenders reducing selected mortgage rates, giving homebuyers, remortgage customers and existing borrowers more choice as competition improves across the market. The new rates have come down by up to 0.17% and they will be available on Thursday, 4 June.

Over the last few days, Barclays, Coventry Building Society, Halifax, HSBC, NatWest and Santander have all adjusted their pricing, with lenders trying to attract new borrowers and support homeowners coming to the end of fixed-rate deals. This is particularly important given the massive number of mortgage customers expected to remortgage between July and December this year, with over £154 billion in remortgage activity, according to Barclays. 

Santander’s latest changes include reductions to selected residential and buy-to-let fixed rates for new borrowers, as well as lower product transfer rates for some existing customers. Its cheapest two-year fixed rates are moving closer to the market-leading deals, which is positive news for borrowers who have been waiting for pricing to improve.

Aaron Strutt, product and communications director at Trinity Financial, says: “Santander’s latest rate cuts are another sign that lenders are competing harder for mortgage business. Two-year fixed rates are now available from around the mid-4% range, five-year fixes are becoming more competitive, and there are still tracker mortgages priced below 4%. While not every reduction is huge, rates are heading in the right direction and there are more sub-4.5% mortgage deals available than there were earlier in the year.”

For borrowers, the improving choice of fixed and tracker rates means it is worth reviewing the market before committing to a new deal. Santander may be competitive for some applicants, but other lenders could offer a cheaper rate, larger loan or more suitable affordability calculation.

FAQs

Has Santander reduced its mortgage rates?

Yes. Santander has lowered selected mortgage rates for new borrowers and some existing customers. The changes include reductions to certain residential, buy-to-let and product transfer rates.

When are Santander’s new mortgage rates available?

Santander’s new mortgage rates are available from Thursday 4 June. Mortgage rates can change quickly, so borrowers should check the latest deals before applying.

Are Santander mortgage rates now below 4.5%?

Santander’s lowest fixed rates are moving closer to the market-leading deals, with some rates starting just below 4.45%. There are now more sub-4.5% mortgage deals available, which is good news for borrowers.

Is Santander a good lender for remortgage customers?

Santander may be a competitive option for some remortgage customers, but it is important to compare its rates with other lenders. Another bank or building society may offer a cheaper rate, larger loan or more suitable affordability calculation.

Should I choose a two-year or five-year Santander fixed rate?

This depends on your circumstances, budget and view on future interest rates. Two-year fixed rates give borrowers the option to review sooner, while five-year fixes provide longer-term payment certainty. A mortgage broker can compare the total cost, fees and flexibility of both options. Santander has some good three-year fixes.

Are tracker mortgages still worth considering?

Yes. Tracker mortgages can appeal to borrowers who want flexibility or expect interest rates to fall, and some tracker deals remain below 4%. However, monthly payments can rise if the Bank of England base rate increases, so they are not suitable for everyone.

How can Trinity Financial help with Santander mortgage rates?

Trinity Financial’s brokers can compare Santander’s latest mortgage rates with deals from other banks, building societies and specialist lenders. Borrowers can call 020 7016 0790 to discuss fixed rates, tracker mortgages, remortgages and product transfers.

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7016 0790 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

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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