A property firm has revealed that the U.K. housing market recovery will undergo a slump in 2010, due to the increase in the supply of homes because of forced sales.

The group said that banks may show “less forbearance” to people who pay mortgages late after the general election, which will come probably by June 2010.

The prices were stoked this year due to the shortage of properties available and erased some losses in values caused during the downturn.It was reported that this has shaved as much as 12% off asking prices.

The news comes along with the Bank of Englands statement that over the past several months, the interest has been a record-low, which contributed in making borrowing more affordable and helped more U.K. households meet debt payments.

The bank was citing a survey it conducted in coordination with a financial services consulting group from September to October.

Despite this, a representative from the group said a jump in mortgage lending next year is not going to be likely.

“We have seen recovery to a degree in mortgage lending, which is fairly a snail’s pace, and they are being particularly choosy. I can’t see that changing particularly next year, it may even tighten up after the election.”