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The latest figures of the Council of mortgage lenders revealed has dropped to 12 billion gross of ￡ in September, 1% on the previous month and September lowest total since 2000.

Michael Coogan, Director General of the CMA said: "loan volumes seem likely to increase substantially towards the end of the year pressures on lenders .Financement steps remain, and the practical implications of Government and public spending cuts are starting to emerge, with an impact resulting on the confidence of consumers."

He added that, despite the pressures on public finances, it is "no time for further reductions" in aid of the State for distressed borrowers.

It comes from Great Britain for the biggest lender mortgage Halifax said earlier this month that house prices fell to them more monthly grand fall since the beginning of the records.

Brian Murphy, mortgage broker mortgage Advice Bureau, said: "there is no sign of traditional mail was rebound in the mortgage business, did not bode well for the rest of the year.

"We knew he was going to be a quiet autumn in the light of the expenditure review, but it is worse than many craignaient.Avec buyers as cautious as lenders, it will be a long winter and difficult and more pressure on home prices decline seems inevitable."

Jonathan Cornell, mortgage brokers first action finance, stated: "continued funding stress in the mortgage market coupled with nervous borrowers will put more pressure on House prices down."

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