Many homeowners are struggling to keep up with their mortgages, with nearly half a million having missed a payment in the past six months.

Figures from a poll conducted by YouGov on behalf of price comparison site MoneyExpert show that around four per cent of outstanding UK mortgages recorded a missed payment since July.

The ongoing effects of the credit crunch are being exacerbated by a slowdown in the house market and energy price increases, which does not bode well for the coming year, the report continues.

Sean Gardner, chief executive of MoneyExpert, said: "Missing a mortgage payment doesn't incur an automatic charge like failing to pay your credit card bill, but it is a sign of real distress, as keeping a roof over your head should be the priority for most of us."

However, he did note that the Bank of England's base rate cut in December may help to ease the strain of household finances.

Elsewhere, Reuters reports that leaders of Britain, Germany, France and Italy are to publish a declaration of confidence in Europe's capacity to weather increased financial uncertainty.

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