Mortgage expert Ray Boulger told Daybreak that because of low interest rates, there is currently a "golden opportunity" for people to address their mortgage payments.
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.
Mr Boulger said: "If for example you took out a mortgage before the credit crunch probably you'd have started off paying interest rates of about 6%, now you might be paying 3%. So even though some people's incomes are squeezed, a lot of them will have probably seen their payments come down by half.
He added, "take advantage of the current interest rate periods to start repaying the mortgage."