Mortgage lending fell by nearly 12 per cent in September in comparison with August, according to the Council of Mortgage Lenders (CML).

In news that may interest those considering purchasing a home in the central Scotland region, the CML reports that lending fell to an estimated £30 billion last month, but was up on the £29.2 billion figure from September 2006.

Director general of the CML Michael Coogan stated that the council has been anticipating a slowdown in monthly levels of lending, in line with rises in interest rates.

"In the coming months, we expect to see monthly lending levels dip below their 2006 levels for the first time this year as rate effects are exacerbated by the recent liquidity problems in the mortgage market," he said.

Research by the Royal Institution of Chartered Surveyors earlier this month indicated that new buyer enquiries in the housing market have declined for the tenth consecutive month and at the fastest rate since March 2003.