# Santander and TSB are the two banks with confirmed changes coming this week.

*fintech · news · 2026-04-15 · Manchester Evening News*

## Key points

- Santander is reducing two-year fixed first-time buyer mortgage rates by up to 0.28 percentage points.
- Santander's five-year fixed My First Mortgage with 2% deposit will lower to 5.85% with £250 cashback.
- TSB is cutting two-year fixed house purchase mortgage rates by up to 0.45 percentage points starting Friday.
- Some TSB product transfer and additional borrowing rates are increasing, indicating selective rate adjustments.
- Recent swap rate drops have enabled these bank rate cuts, but reductions are selective, not broad-based.

**Companies:** Santander, TSB
**Countries:** United Kingdom

[Read the full story on Manchester Evening News](https://www.manchestereveningnews.co.uk/news/uk-news/uk-mortgage-update-banks-prepare-33777569)

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