Those who are finding it difficult to meet their mortgage repayments have been advised not to stick their heads in the sand and try to ignore the problem by three organisations working together: the Council of Mortgage Lenders (CML), Shelter and Citizen’s Advice.

If experiencing trouble, the three organisations advise that borrowers should contact their lender as soon as possible as there are affordable payment options to explore such as mortgage holidays, switching to interest only and other avenues.

Adam Sampson, chief executive of Shelter, said: “As the credit crunch continues to bite, the reality is that more and more homeowners will struggle to keep up with their mortgage payments this year.  We would urge anyone in difficulty not to bury their heads in the sand and to seek advice early to ensure they don’t lose their homes.”

Any responsible mortgage advisor would advise the same and situations such as this are discussed in CeMAP training courses for those studying to become mortgage advisors.

For those who are wanting to avoid these difficulties should overpay where they can and ensure their mortgage payments are their top priority.

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