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LATEST NEWS & EVENTS Residential property conveyancing lending up  Activity in the residential property conveyancing market may have increased sharply in June as new figures show banks are lending more to homebuyers. Gross mortgage lending was up 16 per cent last month compared to May, totalling £12.6 billion. However, the Council of Mortgage Lenders (CML) figures show that lending is still down on 2010 levels. Gross lending for the second quarter of 2011 was an estimated £33.5 billion, an 11 per cent increase from the first three months of this year, but three per cent decrease from the corresponding period in 2010. Commenting on the state of the housing market, CML chief economist Bob Pannell suggested that repossession rates would not be as bad as many fear. "But we do expect to see moderately higher arrears and possessions through the second half and into 2012, as we have previously forecast," he added. Meanwhile, Rightmove has reported that sellers are being forced to slash asking prices by 1.6 per cent in order to get a sale. Posted by Georgina Price 
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