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Matthew Wyles, President of the CMA said regulation proposed by the controller of the city would hurt more borrowers as they.

The Financial Services Authority on how much money, that a person can borrow evolved after the banks have been criticised for giving a larger loans to buyers who can afford not rules.

Mr. Wyles said the "layer on layer" additional requirements are building regulatory set "too large and unwieldy".

Speaking at the annual Conference of the CMA, he said: "I'm sure the FSA does not really exclude large crowds of market borrowers, or reduce capacity reasonable loan household responsible to meet their housing needs."

"And I am sure the FSA really believes that we are loading effects potentiels.Mais I can say with confidence that we're not crying loup.Nous do these points if we do not believe that they are true."

According to proposals of the FSA, the amount that a person could borrow might be restricted taking account of future interest rates are student and whether they can afford their monthly payments based on a refund instead of an agreement of interest only mortgage.

More than half of all mortgage loans taken out during the four years have not been accepted if affordability of the Financial Services Authority rules had been implemented, according to the CMA.

Added Wyles mortgage market felt like it was stuck in "Groundhog Day", and while the industry stood at the edge of a "financial abyss" by other means, little had changed in the two years.

Ready remains only a fraction of what they were in 2007, the year beat the credit crunch with the Group predicted that net loans, redemptions and refunds, bands will be only ￡ 9 billion this year, compared to 108 billion pounds in 2007.

Mortgages will remained "sober" he said as he released figures showing gross loans ￡ 12.4 billion, which is unchanged from September, but the 9% compared to October 2009.Il is total October lowest since 2000.

Brian Murphy, head of loans to mortgages, Council Office said: "in a market that operates normally you would expect to uplift overall activity between September and October on a plateau during the summer months .but this is not a normally functioning market."

"Borrowers are nerve, even more so since the expenditure review and confirmation of some half a million public sector job losses .this fear for their personal situation has certainly contributed to the decline in mortgage applications."

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