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Mortgage lending hits record heights

Gross mortgage lending hit record heights in June reaching an estimated £11bn according to figures from the Council of Mortgage Lenders.


The figure which is the highest since CML records began in 1993, was 21 per cent up on the previous month and 31 per cent more than the equivalent month last year.


But loans for house purchases were down as a percentage of the overall total despite increasing to £7bn from £6.2bn the previous month.


Remortgages were up reaching 31 per cent from 27 per cent in May as a percentage of total lending, an increase to £3.4bn from £2.5bn the previous month.

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