This week, the Council of Mortgage Lenders estimated that gross mortgage lending reached £17.8 billion in September, which was 1 per cent lower than August’s £18 billion.

However, this was 10 per cent higher than September last year, which stood at £16.2 billion.

Gross mortgage lending for the third quarter of this year was an estimated £55.5 billion. This represents an 8 per cent increase from the second quarter of this year, and a 13% increase on the third quarter of 2013 (£49.2 billion).

Charles Haresnape of Aldermore Bank stated that market uncertainty may be forcing individuals to re-evaluate their plans.

He said: “It is interesting that August, traditionally one of the quietest times of the year for the housing market, has seen higher volumes of mortgage lending than September."

“There is increasing uncertainty in wider markets and this may be making people rethink their plans. Closer to home, political uncertainty over the Scotland referendum and next year’s general election may also have had an impact."

The Council of Mortgage Lenders' members are banks, building societies and other lenders who together undertake around 95 per cent of all residential mortgage lending in the UK. There are 11.1 million mortgages in the UK, with loans worth over £1.2 trillion.