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"What I have in my head are the screams, the loud sound of the ceiling falling in, my mom's screams asking me if I'm OK, me asking her if she's OK," Carwin recalls.

So-called swap rates, which influence the price of fixed-rate mortgage deals, have been falling in recent days.

The report released on Thursday noted how last year there was a 27% decrease in the number of domestic high-end TV productions made in the UK and a 25% fall in spend.

Brokers expect further falls in the coming days as the "Big Six" lenders - Halifax, Nationwide, HSBC, Santander, Lloyds, and Natwest - continue to adopt a "wait and see" approach by so far not announcing any cuts.

This is defined as a prolonged and widespread decline in economic activity typically characterised by a jump in unemployment and fall in incomes.