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LATEST NEWS & EVENTS Residential property conveyancing 'stable but subdued'  Residential property conveyancing stabilised last year after two years of "sharp falls", the Council of Mortgage Lenders (CML) reports. Following declines in 2008 and 2009, the housing market was "stable but subdued" in 2010, with lending up 11 per cent over the previous year. CML data shows that remortgaging levels hit a 13-year low last year. Meanwhile, first-time buyers have also been hit, with just 200,000 people getting on the property ladder last year - down from 600,000 a year a decade ago. CML director-general Michael Coogan said: "2010 was about the mortgage market continuing to adapt to the post-credit crunch environment, and the full year data shows that the lending industry is now on a more stable footing but at historically low levels of activity." It comes as the Office for National Statistics (ONS) reports that the recession has had major impact on residential property conveyancing. The number of homeowners moving house in 2009 fell by 45 per cent compared to the year before, according to the ONS. Posted by Gaby Hamerton 
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