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LATEST NEWS & EVENTS Residential property conveyancing sees 'small improvement'  The residential property conveyancing market saw a slight improvement in February, new figures reveal. Mortgage lending rose in February after "a particularly downbeat January", according to the Council of Mortgage Lenders (CML). There were 32,300 mortgages arranged with home buyers in February, eight per cent up on January, but down 12 per cent below the level seen in February 2010. Remortgage lending rose five per cent to 24,300 in February, from 23,200 in the previous month. The increase in remortgage approvals in early 2011 reported by the Bank of England has not yet fed through to completions, the CML said. CML chief economist Bob Pannell noted that the fall in lending compared to last year came despite the fact that lending at the start of 2010 was depressed after the end of the stamp duty concession. "But research suggests cash purchases have remained steady since the credit crunch, indicating that the housing market may be holding up better than the low mortgage lending levels suggest," he said. Remortgaging activity will increase throughout the year, he added. It comes after the Halifax reported that there has been a slight fall in residential house prices. Posted by Georgina Price 
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