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There are now 11.82 million mortgages in Britain - two million more than in 1992 - meaning there is a larger pool of borrowers vulnerable to missing their repayments and repossession if, for example, they are made redundant.

The research suggests that if the percentage of mortgage arrears by the end of this year is even half what it was in 1992 then that period's grim total of 75,000 homeowners facing repossession in a year could be repeated. A Government spokesman said: 'homeowners are stretched to the limit already to meet mortgage repayments, so would struggle if they were suddenly unable to work.

'UK homeowners have failed to learn the lessons of 1992 - there are more people at risk of falling into mortgage arrears and needing repossession advice, and the vast majority of homeowners have no protection in place to guard against possible financial hardship or even repossession.'

He added that more and more people are turning to sell and rent back as a solution. Sell and rent back is a remarkably simple answer to a problem which, for many, appears without unsolvable.

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