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Published Date: 14 May 2008

People who can get a mortgage deal at the moment aren't taking any risks

We're not taking any risks with our mortgage deals

A record 78 per cent of people who took out a mortgage in April went for a fixed-rate deal.

That was up 14 per cent on March, according to new figures released by mortgage broker Charcol.

And it's down to good fixed deals as well as people's nervousness say experts.

Fixed deals are currently a quarter to a half a per cent cheaper than tracker mortgages, after the April cut in interest rates.

Some home buyers are thought to be scared that interest rates will rocket up again as they did in the 1990s. Charcol's analysts think that unlikely as the economy is relatively stronger.

More first time buyers are being squeezed out of the mortgage market, with few loans available for 90 per cent of the purchase price or more.

Some lenders are believed to be imposing higher interest rates on buyers with less than 25 per cent deposit.

Last Updated: 14 May 2008 01:43 PM

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