Back to today’s briefing

Story perspectives

Mortgage Rates Cut: Nationwide and Santander Boost Competition

2/16/2026

46 7 Full Breakdown

Summary

Story summary

Nationwide Building Society (Nationwide) and Santander cut mortgage rates, boosting competition.
Nationwide has a two-year fixed deal starting at 3.54%.
Santander lowered first-time buyer rates by up to 0.32% and offers a five-year fixed product for buyers with a 2% deposit.
The trend could benefit up to 1.8 million people renewing mortgages in 2026.
Experts urge buyers to consider total mortgage costs, not just headline rates.

1 of 1

Story summary

Nationwide Building Society (Nationwide) and Santander cut mortgage rates, boosting competition.
Nationwide has a two-year fixed deal starting at 3.54%.
Santander lowered first-time buyer rates by up to 0.32% and offers a five-year fixed product for buyers with a 2% deposit.
The trend could benefit up to 1.8 million people renewing mortgages in 2026.
Experts urge buyers to consider total mortgage costs, not just headline rates.