The number and value of home loans are at their lowest levels since current records began, according to the Council of Mortgage Lenders (CML).
The number of loans granted for house purchases in August fell to 42,000 - some 59% lower than the same month a year ago.
The value of these loans was £6bn, which was 63% down on August 2007.
Government measures to help the mortgage market will take time to feed through, the lenders' group says.
Both the number and value of house purchase loans in August were at their lowest since monthly records began in January 2002.
The more historic quarterly data shows that the number of loans were at their lowest level in the last three months since the third quarter of 1974.
Source
news.bbc.co.uk
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