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Fixed rate demand soars

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Demand for two-year fixed-rate mortgages has rocketed in the past month, according to Hamptons International’s latest mortgage survey.

 In January, 39% of borrowers opted for a two-year fixed deal, compared with 24% a year earlier and 27% in December.

The increased demand for fixed-rate home loans coincides with the Bank of England keeping interest rates on hold at 4.5% for the sixth consecutive month last week.

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