Act fast to sort out mortgage problems

Homeowners struggling to meet their mortgage repayments should act now, a leading consumer group has warned.

With the housing market slowing and mortgage repayments getting more expensive, many people are facing difficulties.

But Which? has urged homeowners not to bury their heads in the sand, as failing to grasp the nettle could lead to much bigger problems in the future.

"If you have fallen behind with your mortgage payments you must contact your lender as soon as you can - a head-in-the-sand attitude will only make things worse," the campaign group said.

"Despite lenders becoming increasingly reluctant to push for a repossession, these new figures show that they are happening at an alarming rate."

As well as uncertain times in the housing market, homeowners are also facing rising fuel bills and home insurance premiums.

February 11^th 2008

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