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Remortgages hit two-year high

The Council of Mortgage Lenders reports remortgaging boosted lending figures in August 2005, with gross mortgage lending rising by 9 per cent from July. Lending of 27.5bn in August resulted in the highest reported figure since July 2004. Remortgaging rose 15 per cent to 11.7bn from 10.2bn in July, the highest figure since October 2003.

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