FALLING behind with your mortgage payments can be a very worrying time but, according to a City regulatory, you should not be going through it alone.

A review by the Financial Conduct Authority (FCA) into how mortgage lenders handle the cases of people in arrears has found lenders could be doing more to help those struggling.

They realised some lenders have one size fits all systems, making it hard for both staff and customers to find a suitable solution. The FCA, therefore, wants lenders to show more flexibility, ensuring all their customers are treated fairly.

As the economy continues to show signs of picking up, the need for this change will become even greater, too.

Although good news in many ways, a healthier financial market could also mean rising interest rates – from the historic 0.5 per cent low of the past five years – and people on tracker mortgages somehow having to find extra money every month.

A recent report for Barclays Mortgages suggested that if the bank rate edged up moderately to about 1.25 per cent by November next year, we could expect to see about £252 added to our yearly mortgage payments.

To pre-empt problems, the FCA wants lenders to proactively identify borrowers who may find a rise in interest rates particularly tough, and have plans in place for how they can be helped.

Certainly, without this support, the temptation to ignore your problems and just bury your head in the sand is huge.

For example, charities have recently reported seeing some struggling borrowers resorting to trying to cover the costs with high-interest payday loans.

To avoid getting caught in the same trap, it is important you speak to your lender at the earliest chance you get. It may be able to help you work something out, such as changing the way you pay your mortgage.

It is also worth reading through your paperwork and checking with your lender to see if you have insurance which can help you with your mortgage payments if you’ve lost your job, had an accident or become ill.

Perhaps there are ways you can change your spending habits to make your mortgage payments easier, too. The Government-backed Money Advice Service (MAS) website – moneyadviceservice.org.uk – has tips on how to curb your outgoings.

There is plenty of other independent advice around, too.

Try talking to MAS, Citizens Advice, Shelter or StepChange Debt Charity if you’re worried about meeting payments, and if you are having difficulty with your lender, turn to the Financial Ombudsman Service (FOS), which resolves disputes between consumers and financial firms.

An ombudsman service spokesman said mortgage complaints are some of the most hard-fought problems it sees, and finds in the consumer’s favour in about a quarter of the cases it investigates.

We can finish on another positive, too. Despite all the worrying news, the number of people in mortgage arrears is actually heading downwards.

At the end of last year, about 1.29 per cent of all mortgages were in arrears of at least 2.5 per cent of the loan balance, down from 1.40 per cent a year earlier. Repossession figures are down, too – 28,900 people had a property repossessed last year, the lowest annual figure since 2007, according to the most recent figures from the Council of Mortgage Lenders.