Santander said that from Thursday, borrowers will be able to apply for one of four new products as it launches a range of two and five-year fixed-rate deals at 3.99 per cent. Eligible borrowers will need a 40 per cent deposit to bag the new rates,

Barclays and Santander have cut fixed mortgage prices and released deals with rates below 4%. The rate reductions have come just a week after the Bank of England cut interest rates by 0.25% to 4.5% and as swap rates, which lenders use to set their pricing, began improving.

According to experts, Santander has "fired" the starting gun, and more are set to follow in the coming weeks with experts saying that it is “only a matter of time” before more sub-4% mortgages return

Major lenders Santander and Barclays have launched mortgage deals with interest rates below four per cent for the first time since November, signaling increased competition in the mortgage market. These new deals,

Sub 4% mortgages are returning to the market, with Santander UK launching new deals later this week. The bank said that from Thursday, borrowers will be able to apply for one of four new products as it launches a range of two and five-year fixed-rate deals at 3.

Santander and Barclays have announced this week that it was to launch the new deals on Thursday, with borrowers able to get mortgage rates below 4% for the first time this year

Barclays and, Santander, all among the biggest players in the mortgage sector, marked the return of sub-4% lending for the first time since November. Barclays unveiled rate cuts across its mortgage range from today, including a 3.99% 5-year fixed-rate home loan for borrowers with a deposit of at least 40%.

Santander is also making reductions of up to 0.40 percent on more than 80 other mortgages products from Thursday. The new deals include a 60 percent LTV (loan-to-value) two or fiv