The crisis amongst Britain’s banks last week will cause a knock on effect for the cost of remortgages according to Savills Private Finance.

The city broker expects lenders to increase their rates in response to last week’s turmoil. For a remortgage on a typical £200,000 home loan the rates could rise as much as £600 a year for the borrower.

This will leave borrowers needing advice on remortgages as many will be seeking the best remortgage deals.

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