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LATEST NEWS & EVENTS Gross mortgage lending falls in April  Lending for residential property conveyancing transactions fell 14 per cent in April, new figures show. Gross mortgage lending dipped to £9.8 billion last month from £11.4 billion in March, according to the Council of Mortgage Lenders (CML). It was also a five per cent fall from the £10.3 billion in April 2010, though the CML said a slight dip was expected due to the royal wedding. CML chief economist Bob Pannell said it was hard to read the immediate market situation. "This represents an unfortunate temporary loss of signal, at a time when it would be useful to gauge the resilience of house purchase demand to economic uncertainties and the pressure on household incomes," he explained. Mr Pannell added that activity will remain "broadly flat" over the coming months and that the market is "unlikely" to see interest rates rise much this year. It comes as new figures from Santander show it takes the average person 29 months to save a deposit to get a foot on the residential property conveyancing ladder. Posted by Alex McLean 
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