Homeowners will come under more pressure early next year with the prediction that interest rates are to rise.
According to the Confederation of British Industry (CBI), the UK base rate will jump from the current historic low of 0.5% to 0.75% in the first quarter.
The CBI had earlier predicted a rate rise in the third quarter of 2015. It declined to say how many homeowners or businesses might be affected by rising interest rates next year.
The Office for National Statistics said that in 2010 more than 9 million UK households had property debt.
The Council of Mortgage Lenders (CML) said that in February 22,200 first-time buyers received loans, 26,200 home-movers and 14,300 buy-to-let applicants.
In December the CML said the recent period of falling loan arrears may be coming to an end, and forecast a 6.66% rise in defaults, to 160,000, next year.
CBI director-general John Cridland said property values were expected to rise by 8.2% in 2014 and 5.1% next year, prompting more fears of prices overheating.
"We have to remain alert to the risks posed by unsustainable house price inflation, and the (Bank of England) Financial Policy Committee is poised to act when necessary," he said.
"Housing has come back under the spotlight as annual house price inflation figures have reached double digits on some measures.
"While housing transactions are still running almost 30% below their last peak in 2006, they are picking up steadily."
London house prices have climbed a quarter above their pre-crash peak, partially prompted by foreign buyers in the prime property segment.
"Outside London, prices remain around 2% below peak figures with an even greater difference when you move outside the South East," Mr Cridland said.
The predictions come amid increased scrutiny of mortgage applications by lenders, in response to a market review by the Financial Conduct Authority.
Mortgage providers are seeking reassurance that applicants will have sufficient income to cover any potential rises in interest rates.
The FCA said new rules were "hardwiring common sense" into the market.
Mortgage broker firm John Charcol said families are the most likely to face scrutiny under the new regime, as their outgoings were potentially greater.
Spokesman Ray Boulger said: "The most common reason to knock people back is childcare costs.
"It's particularly bad if people have more than one child or if they are under school age."
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