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LATEST NEWS & EVENTS Residential property conveyancing activity up  Activity in the residential property conveyancing sector appears to rising as the number of loans for house purchases increased during May. There were 41,500 loans worth £5.9 billion advanced for house purchases during the month, up from 40,800 in April, according to the Council of Mortgage Lenders (CML). Despite the monthly increase in conveyancing activity, it is still below the level seen in May 2010, when 43,800 advances worth £6.3 billion were made. Remortgaging also picked up in May, with 29,000 loans worth £3.6 billion advanced, the CML said. Although this is nine per cent above the same month last year, remortgaging activity remains below its March peak of £4.1 billion. CML director-general Michael Coogan expects there to be a steady rise in the amount of lending for house purchases. "There is no evidence of any drastic changes on the horizon or any significant shifts in direction for the mortgage market," he added. "These stable conditions are expected to continue for the rest of the year." It comes after LSL Property Services reports that house prices slipped 0.8 per cent in June on a monthly basis. Posted by Georgina Price 
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