The availability of cheap credit has come to an end, it has been suggested.
According to Moneyfacts.co.uk spokesman Darren Cook, secured loans were much more widely available last summer than they are at present.
But this was because house prices were rising and lenders did not consider there to be significant risks, he noted.
Falling prices have seen this disappear and Mr Cook predicted that although there will not be a return "to the extremes we saw last year", more secured loans will be approved.
"Hopefully we are seeing the end of loose credit and banks taking more account and assessing the risk and looking at the overall picture before they approve debt," he said.
Recent figures from the Council of Mortgage Lenders showed that mortgage lending had dropped by 42 per cent in September, compared to 2007 levels.
And the estimated £17.7 billion also represented a decline of ten per cent compared to the previous month.
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