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Santander UK Cuts Mortgage Rates Amid Inflation Concerns

4/15/2026

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Summary

Story summary

Santander UK will cut rates on higher loan-to-value mortgages by up to 0.3%, with the two-year fixed rate at 4.9%.
It is the first major lender to cut rates since the Iran war began.
Nicholas Mendes, a mortgage broker, says the changes are selective and not a broad turnaround.
Oil-driven inflation pressure could spur Bank of England hikes, so borrowers should lock in rates.

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Story summary

Santander UK will cut rates on higher loan-to-value mortgages by up to 0.3%, with the two-year fixed rate at 4.9%.
It is the first major lender to cut rates since the Iran war began.
Nicholas Mendes, a mortgage broker, says the changes are selective and not a broad turnaround.
Oil-driven inflation pressure could spur Bank of England hikes, so borrowers should lock in rates.