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In total 30,010 mortgages fell into “significant” arrears of 10 percent or more of the outstanding balance in the fourth quarter of last year.

This was 350 more cases than the previous quarter. The total has been increasing since early 2020.

And 6,010 buy-to-let mortgages were in arrears of 2.5 percent or more in the fourth quarter of 2021.

Paula Higgins, of the HomeOwners Alliance, said: “The Government needs to work with lenders on a long-term plan in preparation for the debt hangover we are facing.”

People renting their homes are not faring any better, with 14,123 landlords starting court proceedings to evict tenants between October and December. This is up by 43 percent on the previous quarter.

According to the homeless charity Shelter, almost a quarter of tenants are behind on their rent or struggling to pay it.

There will be more evictions to come as the cost-of-living crisis bites.

Osama Bhutta, of Shelter, said: “The reality is that thousands more people are at risk of eviction.

“Soaring inflation and rocketing energy bills may be the final straw for many.

“Many have no savings at all and increasingly some are being forced to choose between feeding their families, heating their homes or paying their rent.”

Inflation is at a 30-year high – 5.4 percent – forcing the sharpest rise in food prices since 2008.

Other everyday goods are 14 percent more expensive.

The Health & Social Care levy, adding 1.25 percent to National Insurance deductions from April, will add extra pressure.

Many renters and home owners were in arrears before the pandemic and are likely to have made use of Covidrelated schemes such as the six-month mortgage holiday.

A ban on repossessions and evictions was also in place for part of the time.

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As courts tackle the backlog of notices lodged by lenders and landlords, the number of people losing their homes will rise, warns the UK Finance banking body.

Managing director Eric Leenders said: “There remains a material backlog of possessions cases, dating back to before the pandemic, which will be resolved through this year.

“This will see possessions increase through 2022 as this process is managed.

“We encourage anyone experiencing financial difficulty to contact their finance provider as soon as possible to discuss options available.”

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