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LATEST NEWS & EVENTS Mortgage approvals jump as house prices fall  The residential property conveyancing market recovered strongly in March, new figures suggest. Mortgage lending by mutuals rose to £2.1 billion in March, a 29 per cent increase from the same month last year, according to the Building Societies Association. It comes as the latest house price figures from the Nationwide show a slight fall in April. According to the lender, the average cost of buying home dropped 0.2 per cent last month. Commenting on the lending figures, the director-general of the Building Societies Association, Adrian Coles, noted: "These are increases from very low levels, and compared to previous times activity in the mortgage market remains subdued. "This is largely because economic uncertainty continues to affect confidence in the housing market." Nationwide chief economist Robert Gardner explained that the residential property conveyancing market has been "fairly static" since last summer. He said the house price declines will not accelerate in the coming months as the economic recovery is expected to gather pace and boost the housing market. Posted by Paul Stevens 
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