Santander will enable dealer’s purchasers to decide on product transfer start dates after they settle for a product that’s decrease than the earlier mortgage from Friday.
The excessive road lender says for decrease fixed-rate or short-term tracker loans, “the shopper will get to decide on if they need the brand new deal to start straightaway — the date they settle for their provide — or wait till the day after their present deal ends”.
For fixed-rate or short-term tracker offers which are the identical or greater, prospects can transfer to their new product the day after their present deal ends.
And for normal variable charge, follow-on charge or lifetime tracker merchandise – which are the identical, decrease or greater – prospects can transfer to their new mortgage on the date they settle for their provide.
The lender provides that for product transfer affords issued earlier than 4 July however haven’t been accepted but, purchasers will get the choice to start their new deal straightaway if it’s decrease than their present one.
