This amounts to one in 25 borrowers, or 4 per cent of the 11.8 million outstanding mortgage loans, with younger borrowers and first-time buyers feeling the strain most.
MoneyExpert.com's chief executive, Sean Gardner said that it was a sign of real distress and it was clear that action should be taken immediately to solve this escalating issue.
He said: “Missing a mortgage payment doesn’t incur an automatic charge like failing to pay your credit card bill - keeping a roof over your head should be the priority for most of us and now is not the time to stick your head in the sand."
