Mortgages below 4 percent have resurfaced in the market following a rate cut by the Bank of England. Santander has introduced new fixed-rate deals of 3.99 percent for eligible borrowers with a 40 percent deposit for two and five-year terms. Rachel Springall of Moneyfactscompare.co.uk welcomed the reintroduction of sub-4 percent mortgages as a favorable development for the market. David Hollingworth from L&C Mortgages pointed out that these are the initial standard rates from a high street lender to fall below 4 percent since last November.