Lamport Bassitt Solicitors - Legal News - 'Unusual factors' impact on residential property conveyancing


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS 'Unusual factors' impact on residential property conveyancing The residential property conveyancing market has been hit by an "unusual combination of factors" at the start of 2011. According to the Council of Mortgage Lenders (CML), there was a 26 per cent fall in house purchase lending in January which the normal seasonal factors alone could explain. Potential users of residential property conveyancing services may have been put off by government cuts, tax measures and inflation, the organisation suggests. Total house lending in January was worth £4.2 billion, which is not only a quarter lower than December but 13 per cent down on January 2010. CML director-general Michael Coogan said: "The bad winter weather and uncertainty over interest rate rises will have exacerbated the fall in lending in January, so it would be premature to draw any firm conclusions about activity levels over the next few months." According to the Halifax, house prices slipped back slightly in February when compared with January. Posted by Gaby Hamerton Related Articles: 17/5/2012 - Discussing death remains taboo as wills and inheritance tax planning suffers 11/5/2012 - Queen's Speech legal reforms welcomed 4/5/2012 - Create Lasting Power of Attorney before it's too late 2/5/2012 - Support for will writing regulation grows 25/4/2012 - Inheritance tax planning could net �450m a year in savings More Individual Legal Services News