In the UK over half a million of us spend an average of 25 hours per week worrying. Property and our possessions are the things we worry about the most.

The fact is the credit crunch has had a worrying effect on us all, so much so that there has been an increase in people taking out optional mortgage repayment cover. This is also sometimes referred to as payment care by mortgage providers.

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Homeowners may see that their day-to-day finances are set for a “shock”, according to new reports. In research released by Moneygate, thousands of Britons may witness their mortgage repayments surging by as much as 50 per cent over the coming months as banks and building societies re-classify them as being high risk when judging their ability to make payments. This in turn will see them be labeled as sub-prime borrowers when they come to remortgage, thus leaving them with interest charges on their home loan above the market average. And as a result, such a rise in mortgage costs could impinge upon their aptitude for servicing other demands on their spending, for instance credit cards and loans. Sub-prime mortgages currently make up some ten per cent of all home loans in Britain, although this figure was suggested as being due to rise imminently.

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