We're worried that a significant proportion of consumers say they did not know they needed a separate repayment plan on their interest-only mortgage.
We hope the FCA looks into this further to establish whether lenders made it completely clear to interest-only borrowers that they would need a repayment plan, to be sure that there wasn't widespread mis-selling.
The Financial Conduct Authority report said it was not clear how well some borrowers understood the discussions about how the mortgage was meant to be repaid when they took the deal out.
Some 13% of interest-only borrowers said they were not aware when they took out the deal that they needed a plan in place to repay the whole amount borrowed, not just the interest - and a further 6% were unsure.
However, those who said they were unaware of the need for a repayment strategy were more likely to have taken out the deal longer ago and just one in 40 people (2.5%) who said they were unaware still has no repayment plan in place.
A regulator has warned home owners on interest-only mortgages that they are facing a "wake-up call" because up to half of these borrowers will not have enough money to pay their loans back.
The Financial Conduct Authority (FCA) fears that consumers are under-estimating the scale of the problem.
Around 260,000 people are thought to have no strategy in place for repaying their loan.
Consumer campaigners also raised concerns that a "significant" number of people claimed to be unaware how their loan was meant to be paid back when they took the product out.
Mortgage lenders have agreed to alert at-risk customers to help them avoid "payment shocks".
Some people may have to sell their home to pay the loan back unless they control their repayment planning.
With around 2.6 million interest-only mortgages, some 10% of people have no plan for repayment.
A new forecast by HML predicts 33,000 homes will be repossessed in 2013 - a touch down on last year.
It is "difficult and expensive" to keep up with the rent every month, but there is help out there according to Antonia Bance from Shelter.
She spoke to Daybreak about the millions of Britons who are struggling to keep up with rent and mortgage payments.
Shelter estimates that almost one million people took out a payday loan over the last 12 months to help them cover their mortgage or rent.
Mandy Buxton was one of them, she told ITV Daybreak that she now faces eviction.
A survey carried out for Shelter has shown that millions of Britons are finding it difficult to keep up with rent and mortgage payments.
Despite this, figures from the Council of Mortgage Lenders (CML) show that the number of home repossessions have been much lower than expected.
The CML said that the number of home repossessions has fallen to its lowest level since 2007 in the third quarter of this year.
- Shelter estimates almost one million people took out a payday loan over the last 12 months to help them cover their mortgage or rent
- Based on their figures it is estimated that around 979,000 had taken out a high-interest payday loan for this purpose
- The charity said the number of people constantly struggling to pay their rent or mortgage had increased by 44% over the past year - 7.8 million Britons
- 4% of rent or mortgage payers said they had fallen behind with their payments, an estimated 1.4 million people at a national level
- Nearly 10% of those surveyed said they used an unauthorised overdraft to help them cover costs, and one in ten of these people said they did so every month
- More than a million homeowners saw their mortgage costs increase in recent months after several lenders raised their standard variable rates
It's shocking to think that so many families will be starting the New Year with a huge weight hanging over them, trapped in a daily struggle to keep their home.
Payday loans may seem like a quick fix, but the huge interest charges mean things can quickly spiral out of control.
It's vital that anyone who's having difficulty paying their rent or mortgage gets advice now.
Don't wait until things reach breaking point later in the year - it could leave your family's home at risk.