Santander to slash interest rates across mortgage products this week - full list of changes

Santander has confirmed plans to make drastic changes to its line of mortgage products in a win for those looking to remortgage and first-time buyers.This comes after the Bank of England reduced the UK's base rate to 4.5 per cent, with some analysts pricing in at least two further reductions in 2025.From Thursday, April 17, the lender is slashing its interest rates across its mortgage products including its home mover, first-time buyer, new build, remortgage and buy to let range.This new pricing is reflective of the recent reduction in SWAP rates and sees the lender reintroduce sub-four per cent rates to its home mover offering.Home moversHere are some examples of how Santander's latest cut to mortgage rates will affect customers who are moving home later this year.All two, three, and five-year fixed rates will be cut by up to 0.13 per cent, including: two-year fixed, 60 per cent LTV, £999 fee at 3.97 per cent - reduced by 0.08 per centthree-year fixed, 60 per cent LTV, £999 fee at 3.99 per cent - reduced by 0.09 per cent.Do you have a money story you’d like to share? Get in touch by emailing money@gbnews.uk.First-time homebuyersHere are some examples of how Santander's latest cut to mortgage rates will affect customers who are moving home later this year.All two, three and five-year fixed rates between 60 to 95 per cent LTV will be reduced by up to 0.17 per cent, including:two-year fixed rate, 95 per cent LTV, £0 fee and £250 cashback at 5.14 per cent - a reduction of 0.15 per centthree-year fixed, 75 per cent LTV, £0 fee at 4.37 per cent - a reduction of 0.17 per cent. New build Here are some examples of how Santander's latest cut to mortgage rates will affect customers who are moving home later this year.All two, three and five-year fixed rates between 60 to 95 per cent LTV will be reduced by up to 0.17 per cent, including:two-year fixed rate, 95 per cent LTV, £0 fee and £250 cashback at 5.14 per cent - a reduction of 0.15 per centthree-year fixed, 75 per cent LTV, £0 fee at 4.37 per cent - a reduction of 0.17 per cent.LATEST DEVELOPMENTS:Tariff turmoil: What Donald Trump’s trade war means for your mortgage, pension and savingsBank of England issues new update for anyone with a mortgageMortgage rate warning as Trump's tariffs could affect interest levels: 'Uncertainty has intensified'Laith Khalaf, the head of investment analysis at AJ Bell, broke down why recent developments in the global economy could benefit prospective homebuyers and mortgage holders down the line."Trump’s tariff announcement might have created havoc in the stock market, but there could be a silver lining for UK mortgage borrowers," Khalaf said. "Interest rate expectations are falling as markets price in the potential economic damage from US tariffs, and the likelihood the Bank of England will respond with interest rate cuts."Of course, there’s clearly a high degree of uncertainty around whether current market dynamics will be sustained, not least because Donald Trump has already shown some flexibility around tariffs in the short time he’s been in office and will likely be getting calls from wealthy backers who have seen billions of dollars wiped off their wealth in the last few days."