The Council of Mortgage Lenders (CML) is preparing to release its estimate for the total amount of money leant by building societies and banks in September.
It is thought that the figure could be as little as half as much as last September, when £30.4 billion was lent.
Last week, revised figures revealed that £19.7 billion was leant in August – the lowest monthly figure since April 2005. The total represented a drop of 42 per cent on the previous year and was down by 20 per cent in just a month.
The CML said: “Exceptionally low housing market turnover and lower than anticipated remortgaging activity will keep monthly lending subdued in the immediate future.”
Monday’s figures are likely to give a fresh sign of the British economy’s deterioration, and will come as the latest blow to hard-pressed households, many of whom are preparing to refinance their fixed-rate deals in a punishing climate.