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Remortgages up 20% in October

Remortgage applications in October were up 20% on september, reaching their highest monthly level since November 2008, the latest figures from the Mortgage Advice Bureau/Coreco National Index show.  But purchase application, after rising in September, dropped off dramatically in October, down 11.4% on September despite this drop off in purchases, total mortgage applications, purchase and remortgage, are actually up 25 % for the year to date compared to the same period in 2009.

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