Product transfer clients can choose when their new deal starts
02/07/2025
Our pledge to improve our product transfer process for you and your clients is something we take seriously and we hope you’re noticing the positive changes we’ve already made.
What’s next?
From Friday 4 July, when your client accepts a new product transfer deal that’s lower than their current one, they’ll get to choose when they want it to start.
| Current deal | New rate? | When do they change to the new deal? |
|---|---|---|
| Fixed rate or short-term tracker | Lower | 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* |
| Fixed rate or short-term tracker | Same or higher | Day after their current deal ends* |
| Standard Variable Rate, Follow-on Rate or lifetime tracker | Same, lower or higher | Straightaway (the date they accept their offer |
*or the day before the completion deadline of the new deal, whichever is first.
Pipeline rules
For product transfer offers issued before 4 July but not yet accepted, clients will get the option to start their new deal straightaway if it's lower than their current one.
‘Switching it up’ newsletter
Look out for the next edition of our ‘Switching it up’ newsletter this month. It’ll tell you more about what product transfer improvements are still to come.
Further support
We’re updating our Product transfers page, frequently asked questions and other guides to reflect this change.