Thursday 'good news' update for Santander, first direct and TSB customers

Thursday 'good news' update for Santander, first direct and TSB customersThe picture is changing day by day at the momentCommentsMoneySteven Smith Content Editor11:44, 23 Apr 2026View 4 ImagesTSB has made a substantial reduction(Image: tupungato via Getty Images)Customers of three major banks have been given significant news today. Major lenders are slashing their mortgage rates with increasing pace, according to brokers, as first direct, TSB and Santander become the latest big names on the high street to unveil cuts, with TSB reducing selected rates by as much as 0.8%.‌Brokers warned the outlook remains uncertain, noting that "the News at Ten could still deliver another setback", but agreed that "it's starting to feel like things are moving the right way at last". From Friday, April 24, TSB has trimmed selected residential purchase and remortgage rates by up to 0.6%, and rates on selected Buy to Let and Portfolio Buy to Let products by up to 0.8%. Santander, meanwhile, has confirmed it is lowering selected new business first-time buyer (FTB), home mover and remortgage fixed rates by up to 0.25%. Within its product transfer range, certain residential fixed rates will be reduced by up to 0.08%.‌On Thursday, first direct announced it had dropped rates across "dozens of two and five-year fixed mortgage products", with reductions of up to 0.38 percentage points coming into effect immediately. The rate cuts for first-time buyers and home movers mean that first direct's range now starts at 4.71% (2 Year Fixed Fee Standard at 60% LTV).‌View 4 ImagesSantander has also cut rates(Image: Ceri Breeze via Getty Images)The same product for existing customers is priced marginally lower at 4.66%. The biggest cuts are seen across the bank's two-year mortgages, though they extend to its complete range of 2 Year and 5 Year products, covering all LTVs up to 95%. For five-year deals, the most substantial reductions are 0.25 percenta...