Research conducted by the Chartered Institute of Housing (CIH) has revealed that many mortgage borrowers are concerned about their ability to repay their mortgage now and in the future, with 20% struggling today and 29% saying they are concerned about affording their repayments in a year’s time.

In London the picture is more troubling, with 25% of borrowers already struggling to meet their mortgage costs.

CIH chief executive Grainia Long said the figures were extremely disturbing and represented a ‘toxic mix’ of economic problems:

“The number of people worried about their housing costs will continue to rise, because we have failed to build enough new homes for decades.

“Decisive action is required to help fix our dysfunctional housing market. Long-term problems like this require long-term, fundamental solutions.

“Recent government announcements have shown ministers understand the importance of fixing our housing system, but we need housing to be understood as a national priority if we are to have any chance of dealing with this deepening crisis.”

The figures indicated tenants were under more stress than borrowers – when those paying rent were included in the survey, a quarter said they were concerned about paying their monthly housing bills and 36% said concerns about housing costs were causing them at least a fair amount of stress.

That figure is higher in the capital, with 53% of Londoners reporting stress about housing costs.