The level of concern among homeowners has dramatically increased recently and news that interest rates are set to rise again has served to fuel this.
Despite being held steady by the Money Policy Committee at their last meeting, it is thought another increase is on the cards, pushing more homeowners towards their financial limits.
This has prompted many homeowners to take out mortgage insurance in case they cannot keep up repayments.
More and more people are being pushed towards bad credit mortgages as they are forced to default on payments for their home, as mortgage repayments soak up an increasing proportion of their income.
To cushion the potential blow of another rate hike, homeowners have been advised to plan ahead if they expect to remortgage and thoroughly explore the options available, as many good mortgage rates are still available.
David Hollingworth, from London and Country Mortgages, said homeowners should not panic.
He told This is Money: "Fixed rates have been coming down and while variable rates tend to be cheaper, not everyone suits them.
"Those who have a pretty sizeable mortgage like to know where they stand."