Encouraging signs of buyers return

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Total mortgage lending fell slightly in June, according to figures from the Bank of England, but the data was skewed by the fact that remortgaging by existing borrowers was down, but loans for house purchase were up to their highest level for five months. Part of the reason for the fall in remortgages may be that most people had already moved to a cheaper loan. On the purchase side, the slowdown in the London market appears to be encouraging buyers to return.

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