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As soon as a homeowner is struggling to meet their mortgage repayments they should speak to their lender, according to a leading expert.

Bernard Clarke, communications manager at the Council of Mortgage Lenders (CML), explained that the earlier the issue is brought up, more can be done to formulate a solution.

"The lender will try to help them do that and come up with a plan that is tailored to their individual circumstances," said Mr Clarke.

Meeting remortgage payments is becoming a big problem for older people. The Consumer Credit Counselling Service (CCCS) recently reported that the number of over 60s contacting them for help with mortgage arrears rose by 44 per cent since 2009.

All other age groups only increased by an average of three per cent.

"If a parent or grandparent is struggling to cope with their mortgage costs or other debts, the best thing to do is to help them seek free advice from a debt charity as early as possible," said Delroy Corinaldi, CCCS director of external affairs.