Bank to offer first two-year deal under 4% with rivals likely to follow suit

The first sub-4% mortgages for months are going on sale handing a much-needed boost to first-time buyers and those worried about refinancing their home loan.

Santander on Thursday will start offering fixed rate deals at 3.99% lasting for two and five years. However, eligible borrowers need a 40% deposit, or a sizeable amount of equity to access the deals.