Santander will allow broker’s clients to choose product transfer start dates when they accept a product that is lower than the previous loan from Friday.  

The high street lender says for lower fixed-rate or short-term tracker loans, “the customer will get to choose if they want the new deal to start straightaway — the date they accept their offer — or wait until the day after their current deal ends”.  

For fixed-rate or short-term tracker deals that are the same or higher, customers can move to their new product the day after their current deal ends. 

And for standard variable rate, follow-on rate or lifetime tracker products – that are the same, lower or higher – customers can move to their new loan on the date they accept their offer. 

The lender adds that for product transfer offers issued before 4 July but have not been accepted yet, clients will get the option to start their new deal straightaway if it’s lower than their current one.