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Wow, what a great response, thank you all. (I had thought I might be lucky to get one answer never mind 20 !)
Thank you, with your help we have now ruled out Isobel because of our surname.
She already has a 15 month old brother who is called Max - I think 'Max and Mia' is very cute - however, they aren't exactly a couple!*!
I love Elizabeth because it is a traditional name and sounds well with our surname - however, I'm not as keen on the abbreviations and prefer Mia to Lizzy, Beth or Betty. (Just as a point of interest - In a recent article run by the Times newspaper, 'Elizabeths' were more likely to achieve good grades at school and go on to have better paid jobs !)
I think we shall perhaps do what some of you have suggested and wait and see which she might suit best !!
xxx