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The Council of Mortgage Lenders has recently revealed that 182,600 mortgages – or 1.57% of the total – had accumulated arrears equivalent to 2.5% or more of the outstanding mortgage balance.

It also found that monthly basis, 219,100 mortgages were in arrears of more than three months at the end of 2008 – numbers that are set to rise even further in 2009. More than ever people need advisers to help give them options if they are falling behind on their mortgage payments.

Many people do not know what options are available to them, many just don't trust the banks. That's where a broker can come in – impartiality is key when dealing with debt, so talk to someone who has no other interest but to help you as a client. A good broker knows that aiding someone with their debt issues today could mean they have a happy and financially stable client in the future.

David McCann, managing director at Guardian Debt Management, says: “Since the launch of our arrears helpline we have been inundated with calls from concerned consumers over the pressures being felt by growing numbers experiencing credit difficulties and through unfortunate job losses. Intermediaries remain in an ideal position to help clients with financial concerns and make it apparent that there is help available for even the most extreme cases."

If you have problems paying your mortgage and are concerned that you may be facing repossession, talk to an intermediary mortgage adviser. They will help you lay everything out and plan for a better future. It might seem like an impossible task now, but with some help, you could claw your way back into the black.

SOURCE: Guardian Debt Management, 25/02/09, CML, 20/02/09

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