According to Martyn Dyson, head of mortgages at Nationwide, consumers should "not just settle for the headline rate" and should consider "the overall combination of headline rate, fee and the lenders' SVR".
As of August 11th, SVRs were lowest at Nationwide at 6.49 per cent, with Halifax (seven per cent) Abbey (7.09 per cent) and Natwest (7.19 per cent) following.
Fixed rates on Nationwide's five-year remortgaging deals were also lowest at (5.98 per cent), followed by Halifax (6.29 per cent), Natwest (6.34 per cent) and Abbey (6.49 per cent).
Meanwhile, Nationwide has announced a 0.25 per cent cut in rates on its two, three and five-year fixed rate deals for consumers looking to remortgage, switch product or take a further advance.
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