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LATEST NEWS & EVENTS CML warns of regulatory conflict in mortgage market  Residential property converyancing is facing the growing risk of a conflict between UK and European regulatory requirements, the Council of Mortgage Lenders (CML) is warning. Lender and borrowers are looking at the prospect of an "unholy confusion" emerging in the mortgage market, the organisation has said. The European Commission (EC) has already announced plans for a directive on mortgage credit, while the Financial Services Authority (FSA) continues to work on the mortgage market review. Now, a third pillar of regulation could affect residential property conveyancing as the Financial Stability Board publishes a report outlining proposals for a reform of mortgage underwriting and origination. The CML said it does not support the idea that the EC should regulate to promote a cross-border mortgage market. "Whether or not the end result will help UK consumers remains to be seen, but seems unlikely given that the FSA is at the more robust end of the European regulatory spectrum already," the organisation explained. Meanwhile, the Halifax has reported that house prices have fallen steadily over the last three months. Posted by Georgina Price 
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