Stephen Noakes from C&G said people should be aware of the conditions which may affect their eligibility for home loans.
"It is important that [borrowers] understand their own position and they understand the choices which are available to them," he added.
Examining options early will help homeowners to get the best deal available, the expert claimed.
Figures from the Council of Mortgage Lenders revealed there were 11.74 million outstanding mortgages during the first half of 2008, compared with 11.82 at the end of 2007 and 11.84 at the beginning of last year.
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