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Borrowers start to move away from fixed rates
There was a move away from fixed-rate mortgages in October, with levels of new fixed-rate loans falling to 68% from 72% in September, according to the latest figures from the Council of Mortgage Lenders (CML). The statistics also revealed interest payments consumed higher levels of income, with first-time buyers contributing 20.6% of their income towards mortgage interest, up from 20.4% in September and the highest level since 1991.



