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LATEST NEWS & EVENTS Mutuals lending more to homebuyers  Mutuals lent more money to people using residential property conveyancing services in February, new figures reveal. The Building Societies Association reports that the £1.7 billion in mortgage approvals in February was 23 per cent higher than in the same month last year. It comes after the Council of Mortgage Lenders (CML) said lending in February was virtually unchanged from January at £9.5 billion. The CML warned that the residential property conveyancing sector will face a tough year in 2011. Adrian Coles, director-general of the Building Societies Association, noted that the rise in lending is against low levels in 2010. He explained that the strong performance shows building societies are well placed to offer "attractive" mortgages to homebuyers. "Activity in the housing market remains at levels that are subdued relative to previous periods, as potential buyers continue to have concerns about the economic outlook," he added. The organisation also reported that the amount of individual savings held by mutuals increased between January and February. Posted by Georgina Price 
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