A survey by national charity Citizens Advice estimates that 770,000 Britons have missed one or more mortgage repayments over the past year, with many holding a mistaken belief that going into arrears didn’t pose a risk to their homes.

11% of people surveyed incorrectly thought that they could miss payments on a mortgage or secured loan without risking repossession, while another 10% were under the mistaken impression that they could pay back as much or as little as they wanted each month.

The survey of over 2,000 people also suggests that up to 2 million people have serious concerns about their abilities to keep up with repayment commitments.

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