Recent economic conditions have meant that the debt landscape is changing, according to one debt charity.

Credit Action, a provider of impartial debt advice, says that there has been a shift away from unsecured debts towards secured debts.

Unsecured debt usually takes the form of credit card borrowing and loans that are not charged against any of the borrowers assets.

With secured lending - such as mortgages - the borrower uses an asset, such as their home, as security on the loan.

Credit Action's Chris Tapp reveals that "whereas previously most people who were struggling with unsecured credits, there's been an increase in the number of people struggling with mortgage payments".

However, there may be some good news for borrowers.

Most economic analysts, having read the latest monetary policy committee minutes, are of the view that interest rates have peaked, according to the Financial Times.

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