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.
What this means for…
Buyers· 3/3
Sellers· 2/3
Wider market· 2/3
Each axis scored 1 (minor) to 3 (major). Total 7/9.
More Rates commentary
10 Sept 2026 · Impact 5/9
Barclays cuts residential fixes by up to 20bps and adds 25bps to buy-to-let, a day after four lenders raised rates
9 Sept 2026 · Impact 7/9
Nationwide, TSB, Accord and Principality all raise mortgage rates as swap rates climb ahead of the September MPC
7 Sept 2026 · Impact 7/9
HSBC and NatWest raise fixed mortgage rates as gilt yields hit an 18-year high above 5%
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