1. Contact your lender
If your circumstances change, such as losing your job, contact your lender immediately. It might be willing to offer a repayment holiday of two or three months, which will give you the breathing space to make alternative financial arrangements.

2. Understand the new rules
Under the new rules announced in October, lenders should be more willing to lower your monthly costs temporarily or to increase the length of the loan term, which would also shrink the monthly payment. One way to lower costs is to switch to interest-only payments. Mortgage payments on a £150,000 loan with an interest rate of 6 per cent would fall by £217 a month by switching from repayment to interest-only.

3. Cut expenses and increase income
If you can prove that you will cut costs or increase your income, your lender is more likely to be flexible in its approach. You should cut out unnecessary expenses, such as satellite TV subscriptions or club memberships. There are also practical ways to raise your income. Mr Tapp points out that a recent client realised that she could make up the shortfall in her repayments by renting out a spare room to lodgers.

4. Contact free debt advisors
Debt charities, such as the Consumer Credit Counselling Service (CCCS) or the National Debtline, can help with a budget plan to use when renegotiating the terms of your mortgage.

Francis Walker, of the CCCS, suggests that it can be better to seek help from a debt adviser before approaching your lender with a proposal. She explains: “We often find that borrowers set up an agreement with a lender and then find that it is unaffordable. Customers are likely to say what they think is acceptable to the lender rather than what they can afford.”

5. Prioritise your debts
The most important thing is to stay in your home, so your mortgage repayments should be paid before other unsecured debt, including personal loans or credit cards.

If you need to stop paying these debts temporarily, write to the loan or credit card company and explain your financial situation. It may be willing to suspend repayments if you can prove that you will be able to start repaying the loan again in the future.

6. Do not be bullied by your bank
If you have missed one or two mortgage payments, it is likely that your lender will have been in touch to talk about your financial situation. Lenders can apply pressure on borrowers to pay arrears quickly - and the failure to do so has been used as grounds for repossession.

However, Beccy Boden Wilks, of National Debtline, says that you will not be evicted if you can demonstrate that you can afford to make monthly repayments and a small amount of the arrears each month. She adds: “Your lender might push you to clear arrears in 12 months, but ask if you can spread the cost over the term of your loan.” You could also ask about adding missed payments to the loan, which is known as capitalising your arrears.

7. Be wary of sale-and-leaseback
Speak to a debt charity or financial adviser before considering sale-and-leaseback schemes, which are unregulated. This would involve the sale of your property to a company that would then keep you on as a tenant.

You could also contact your lender or local housing association about mortgage rescue plans, which work in a similar way to sale-and-leaseback.

8. Attend all hearings
If you do miss a number of monthly repayments, it is likely that your lender will write to you with a date for a repossession hearing. It is crucial that you attend, says Ms Boden Wilks, because if you can demonstrate to the district judge that you are able to make your basic repayments, the judge will support your case.

9. Request time to sell your property yourself
If there is no way that you will be able to afford your monthly repayments, request that you are given time to sell the property yourself.

10. Share your problem with family and friends
This could unlock useful help and advice, and reduce the pressure to keep up appearances. For example, friends in the know are less likely to suggest expensive nights out.