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LATEST NEWS & EVENTS Mortgage lending falls to 10-year low  Residential property conveyancing appears to be taking a bashing as new figures show mortgage lending is at a ten-year low. A total of £136.3 billion was advanced for house purchases in 2010, the Council of Mortgage Lenders (CML) reports, which is the lowest level since 2000. In December, lending was down by a fifth (18 per cent) on the same month in 2009, and again was the lowest total for the month for ten years. The CML notes that the stamp duty holiday may have seen an increase in purchases at the end of 2009, making the figures look worse. It notes that inflation is making a rise in interest rates a distinct possibility, though it expects any increase to be "modest". CML economist Peter Charles said: "Consequently we believe there will be little change in the level of arrears this year, and we do not anticipate revising our current arrears forecast." The CML reported earlier this month that house purchasing had remained subdued in November, though it noted a rise in remortgaging. Posted by Gaby Hamerton 
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