A mortgage prisoner advocacy group has published a report that claims a high correlation between mental health and mortgage prisoners.

UK Mortgage Prisoner Support Group conducted research through its Facebook group, noting that that 146 out of 170 respondents reported mental health issues.

The study outlines that the top symptom of mental health reported was ‘stress’, at 41 per cent. This was followed by ‘depression’ and ‘constant financial worry’, both at 25 per cent.

The report also notes that 3 per cent of those in the survey revealed they have contemplated suicide, and 1 per cent had deaths linked to having been a mortgage prisoner.

One of the respondents offered the following story:“It has been a difficult time for our family, my wife is now on medication for depression. The stress of being trapped in a mortgage and struggle to manage monthly has had a devastating impact.

“My sister, who was in a similar position, [had a] marriage end as her husband could not manage financially. She sadly committed suicide in June. We have no doubt the mortgage mess they were in played a huge role in her mental health deterioration.”

Another respondent added, “our house is falling to bits. I cannot afford for things to be fixed or mended. I have had no fridge for two years. No shower for the last eight months. No time out. No holidays. No celebrations. Huge debt.”

Of the 170 respondents, 119 mortgage prisoners, the study also shows, believe that the new FCA affordability rules announced in late October last year will help them to remortgage.

However, UK Mortgage Prisoners Support Group says that in practice just 10 per cent of all mortgage prisoners will meet the new criteria.

The advocacy group conducted a second a survey, for which it received 244 responses from mortgage prisoners. This study concludes that of the three mortgage types – repayment, interest-only and part repayment, 52 per cent have signed up to the first, 41 per cent the second, with 7 per cent on the latter plan.

“People are suffering mentally, physically, socially and emotionally,” concludes the report, adding, that, “past decisions and events that led to the unfair treatment of mortgage holders when they were sold off to unregulated and inactive private equity firms was morally and financially unfair.”

The group says that it wants the FCA to recommend to government that proper protections be put in place to prevent further sales to unregulated entities.