Mortgage holidays ''might become more popular''

People who are struggling to meet their monthly mortgage bills as a result of the current financial difficulties might consider taking a ''holiday'' from their repayments, an industry expert has said.

Andy Pratt of the mortgage advisory company Alexander Hall explained that some mortgages had a clause that meant the homeowner could take a break from their debt for a period of time.

He said that such an option could become more popular as financial problems in the UK increased.

However, Mr Pratt urged consumers to only take a break from their debt if they would be able to pay off the money in the future.

"It''s something that obviously needs to be done in the context of their overall financial position. If they are short of cash for a couple of months, then obviously there''s absolutely no reason why they can''t take that option," he said.

"They''re not intended to allow people to get through bad times, because you should be having a conversation with your lender then anyway if you''re worried."

Recently, moneysupermarket.com reported that mounting debt problems in the UK were pushing people towards loans and credit cards.

The site said that people struggling with their finances needed to make sure they kept up with their mortgage repayments as a priority.