72% of borrowers are concerned about mortgage rates, while 14% are struggling with their repayments, according to new research by Which?

The consumer body reported that 36% of those who are struggling with mortgage repayments have approached their lender for help.

Which? is calling on lenders not to use the current financial crisis as an excuse to neglect struggling borrowers.

Although in 78% of cases borrowers were offered some form of assistance, Which? warns that a significant minority of lenders aren’t doing enough to help their customers.

An increase of £50 a month in mortgage repayments would have an impact on three quarters of households. 37% would need to cut back on regular spending, 20% would reduce the amount they are saving and 9% would not have enough for essentials.

Although the Bank of England Base Rate is not expected to rise in the near future, recent research by Which? Money shows that a fifth of lenders have increased the rates on their SVR mortgages since the rate reached its all-time low of 0.5% in March 2009.

Which? executive director Richard Lloyd said: “With ongoing uncertainty about the economy