Your home is meant to be your castle as the old saying goes...

But for the 1.4 million of us who whose fixed-rate mortgages come to an end this year, staying on top of our mortgage repayments is key.

In 2007, 27,100 homes were repossessed by mortgage lenders. This year, forecasters predict this number will grow as many of us struggle to cope with rising food, fuel and other household bills.

Although it might sound like grim news, it is worth remembering this is still less than half the repossession rate back in the 1990s.

If the worst happens and you get repossessed, handing back your keys is unlikely to be the end of your problems.

A repossession will feature on your credit report for 6 years; as long as if you had gone bankrupt. As lenders check the history of what you've borrowed and your repayment record every time you apply for credit, you may find it difficult to get credit in the period following a repossession.

Also, did you know that if the mortgage lender fails to sell your house for as much as you owe, plus fees and expenses, you can also be pursued for any shortfall for up to 12 years from the date of the repossession? That is not something you want.

The good news is that there are things you can do to avoid repossession. Here are the 10 steps to prevent your most valuable asset turning into a financial burden.

1. Don't ignore your problems

The longer you leave them, the worse they will get. As soon as you have trouble making repayments, talk to your mortgage lender. You may be able to take a repayment holiday, switch from a repayment mortgage to an interest-only mortgage or even extend the duration of your mortgage.

It may also be worth checking with an impartial adviser or broker; this is because most of them can search all mortgage lenders, including some you may never have heard of to find the best deal for your situation.

2. Ask the experts

If you're falling behind with your payments, there are specialist organisations that can give you free and impartial advice.

Try Citizens Advice, the Consumer Credit Counselling Service and National Debtline.

You should also speak free of charge to a debt adviser who can provide you with advice and solutions to help you resolve your debt and credit problems.

3. Give your finances a health check

Get a quick personal finance check up to see how well you are doing and what steps you can take next to improve your position.

You should also get to know your credit report, which gives you a snapshot of everything you owe and how well you're managing your repayments. It may highlight other areas where you can cut back or show that you could roll up several debts into a single, less costly loan. If you find any errors, get them corrected; it may help when you remortgage.

(See your Experian credit report for free)

4. Watch out for sharks

Sadly, there are always people who want to cash in on your misfortune, so be careful before signing up with any organisation that offers you a quick fix. If you do take this route, get independent advice and check the small print carefully before signing anything.

5. Don't stop paying

Always try to pay your mortgage lender something, even if you can't manage the full amount. It shows that you are trying to meet your commitments and may improve your chances of negotiating a better deal.

6. Read the small print

Check if you have any mortgage protection insurance and can make a claim on it. You should also find out if you are entitled to any welfare benefits or tax credits that could help pay your mortgage.

7. Raise some money

You may be able to take in a lodger or let out your property and rent somewhere cheaper. There may even be a market for your garage or parking space. Remember to get your lender's permission if you do any of these.

8. Look after your pennies

There are many ways you can cut your monthly expenditure without too much pain, such as checking price comparison sites to find better deals for your household bills. But be wary of using your home as security; this could be putting it at greater risk if you fall behind with payments.

9. Sell it yourself

If you want to cut your losses, you are better off selling your home yourself rather than abandoning it to your mortgage lender. You are likely to get more for it and will also still have somewhere to live.

Don't wait until your mortgage lender starts repossession proceedings.

10. Never give up

Don't be tempted to hand over the keys. You will still be responsible for the repayments and buildings insurance until the property is sold.

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