This will be brought in on 4 July and means that when a borrower accepts a new product transfer that is lower than their current rate, they will choose the start date.
This will apply to borrowers on a fixed rate or short-term tracker, and they will be able to have the deal start as soon as they accept the new deal or the day after their current deal ends.
For those on a fixed rate or short-term tracker and choosing a product that is the same as or higher than their current deal, the product term can start the day after their current deal ends.
Borrowers who choose the deal to start the day after their current deal ends can also select to have the product start on the completion of the new deal, whichever is sooner.
For borrowers on the standard variable rate (SVR), follow-on rate or a lifetime tracker, where the new product is the same, lower or higher, borrowers can have it start straight away, which will be the day they accept the offer.
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The changes will include borrowers who have had product transfer offers issued before 4 July but have not yet accepted.
Last month, Santander introduced an overpayment option for product transfer borrowers.
Clydesdale adds free valuations to purchase mortgages
Clydesdale Bank has introduced a free basic valuation to all its purchase mortgage products from 4 July.
The lender said it wanted to make things easier for borrowers and improve its service.
This will apply to all purchase applications for both residential and buy to let (BTL), excluding porting.
Its remortgage products already offer free valuations, as does its Virgin Money range.
This is available up to a maximum property value of £3m.
