Santander pledges to brokers

This is incredibly welcome news and we hope others will follow suit. This really falls in line with Consumer Duty. With around 90% of all mortgages now submitted through a broker, removing dual pricing and having 24 hours notice of product withdrawals can only be of greater benefit to those we all serve - the customer.

This is an important imporvement from Santander, with recent rumblings of closing their UK subsidary there needs to be some rebuilding of trust with their broker partners. Their 'No Dual Pricing' pledge is the strongest, eliminating the 'reward' of higher rates for customer loyalty. Hopefully more lenders will follow a similar charter and make it easier for both borrower and broker overall.

It’s great that Santander has joined the campaign started over 2 years ago for 24 hours notice on product withdrawals. With rates expected to go down, it is easier to aim for this when the markets are not as volatile as they were. Either way, it is a bold move from a major lender and others should take note. Well done Santander!

Whilst it's reassuring to see Santander stepping up their game, one can't help but raise an eyebrow at these 'groundbreaking' pledges that should really be industry standard by now. Fair play to them for making these commitments, but treating brokers and customers equally shouldn't be considered a revolutionary concept in 2025.
These changes are certainly a positive step, particularly the elimination of dual pricing which finally recognises that customer loyalty shouldn't be penalised with higher rates. The 24-hour notice window for product withdrawals is indeed welcome, though one might suggest it's rather like celebrating a fish for learning to swim. Still, with brokers handling 90% of mortgage submissions, it's encouraging to see Santander aligning their practices with Consumer Duty and hopefully setting a precedent for other lenders to follow suit.

This is very welcome to see from Santander, albeit these should be minimum standards for all lenders who deal with and obtain 80% of their lending via intermediaries.

Simple, succinct and satisfying to see from Santander. They’ve not promised the world here, but these are meaningful changes for the Broker community. Well played and kudos for committing it to writing.

Welcomed improvements from Santander this morning valuing the strong intermediary channel. Commitments to no dual pricing and also for 24hrs notice on rate withdrawals is the right thing to do for the borrowers. I understand the improvements to the PT process are around overpayments and the valuation being shown which are are key bits of info centric to the consumer and also the intermediary for the advice process.

This is a welcome move by Santander that reinforces the importance of advisers in this Industry. It is also a very subtle shout-out in response to recent accusations of exiting the UK. "Santander's not going anywhere, we are here to stay".

Santander’s new pledges are certainly a positive step for brokers and borrowers alike. Measures like eliminating dual pricing and providing a minimum 24-hour notice for product withdrawals improve transparency and help brokers serve clients more efficiently. These are practices that other lenders should absolutely consider adopting. However, the timing of this announcement will raise eyebrows, particularly given recent speculation about Santander potentially exiting parts of the mortgage market. Some clients have already expressed concerns about the long-term viability of committing to a lender under such scrutiny. If this is an attempt to restore broker confidence and maintain market presence, it’s a smart move—but the effectiveness will depend on how consistently these improvements are implemented. That said, keeping scepticism aside, this is good industry practice that could help drive healthier competition if other lenders follow suit.