Number seeking mortgage help soars

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Shelter said 80,000 people had asked for help after running into problems keeping up with their mortgage during 2007, compared with just 10,000 in 2006.

It is calling on the Government and mortgage lenders to urgently set up a free advice service for people with mortgage arrears and those who faced having their home repossessed.

The call comes soon after City watchdog the Financial Services Authority said more than one million mortgages were a "cause for concern" because of their riskier lending characteristics.

It said these characteristics included people being lent high multiples of their salaries, being asked for low deposits and taking out loans for longer than 25 years.

At the same time the Royal Institution of Chartered Surveyors predicted that around 123 homes will be repossessed every day during 2008, the equivalent of 45,000 during the year.

Shelter chief executive Adam Sampson said: "Shelter has seen a massive increase in people coming to us with mortgage problems, and with repossessions set to rise throughout this year, we simply haven't got the resources to help everyone.

"The Government, mortgage lenders and the Financial Services Authority must take responsibility and start repairing the broken state safety net to ensure that if people face difficulty, there is protection in place and somewhere to turn for advice."

The group said the service would provide early stage advice online and through a telephone helpline for people who were having difficulties paying their mortgage.

But it also called for the FSA to clamp down on irresponsible lenders who advance unaffordable mortgages to consumers and are quick to repossess their properties when they get into arrears.