New research shows that homeowners in northern England are twice as likely as their southern counterparts to fall behind in mortgage payments.

According to FCA data, there are 115,000 UK-based borrowers that are two months or more behind on their monthly payments.

The North East had the largest share of mortgage borrowers that have not made at least two payments in the last year.

1.76% of mortgages in this region have arrears. The North West follows, with 1.6 percent of mortgage borrowers in arrears.

Arrears on mortgages is when a person falls behind in their payments.

According to Bank of England data released last month the total arrears reached £21.9billion. This is 32 percent higher than a year earlier and represents the highest level since 2014.

According to FCA statistics, the arrears of mortgages in southern England are lower.

The average price of a home is higher than the national average, which leads to larger mortgages.

According to UK Finance, for example, a new average mortgage is just under £160,000 on a home in Northern England.

The average mortgage in the South West is just under £230,000, while London's average is £400,000.

Mortgage rates spiked in the last year, so some unfortunate borrowers are now paying rates above 6 percent.

Moneyfacts reports that the current average fixed rate mortgage for a five-year period is 5.09%, and the two-year average is 5.41%.

The monthly payment for a borrower who fixes his loan term at five years and has a repayment period of 25 years may be as high as £1,180 per month.

Source: Mortgages