Santander and NatWest cut over 200 mortgage rates each by up to 25bps as HSBC follows

Santander is repricing over 200 products down by up to 25bps from Tuesday, NatWest cut more than 200 rates by up to 24bps today, and HSBC lowers rates from tomorrow. Easing swap rates and competition for volume are driving the moves after July's increases. For buyers, sub-5% deals are returning: a Santander 90% LTV two-year fix drops to 4.89%. For sellers, cheaper borrowing supports demand. But rates remain above spring levels, a partial recovery, not cheap money returning.