First-time Buyer  

First-time buyer completions up 4.1%

"This is, of course, having a knock-on effect and it is highly likely that the figures we will see in the coming months, which reflect the run-up to the original withdrawal deadline, will be more subdued."

However, Mr Pike added there were positives to be taken from the UK Finance figures as the market had managed to keep ahead compared to 2018 in most areas.

He added: "When you consider these figures only tell part of the lending story in the UK, that is encouraging."