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The number of homeowners falling behind on their mortgage will increase by 138 per cent in the coming year.

Forecasts from the Council of Mortgage Lenders (CML) point to 500,000 households to be more than three months in arrears at the end of 2009.

This compares to 210,000 in 2008.

Repossessions are expected to hit 75,000 in 2009 – compared to 45,000 in 2008 and 26,200 in 2007.

However, the body claims there will be a "significant number" of cases of abandoned properties, instances where property fraud has been perpetrated, and "a sizeable share are expected to be buy-to-let mortgages".

"Lenders are committed to ensuring that repossession is avoided wherever possible, where the household is committed to working with their lender to get back on track," A CML spokesman said.

"Even though lenders will seek to minimise repossessions in 2009, the worsening economic backdrop does point towards an inevitable increase in the number of cases where a sustainable alternative solution cannot be found."

The body claims lenders showing greater forbearance to reduce repossessions and the government's Homeowner Mortgage Support Scheme will mean that more borrowers will remain in arrears in 2008, but avoid repossession.

The CML also stated the figures were a "best estimate of direction of travel, rather than precise analysis" given the many uncertainties covering lending and the economy at large.

Gross mortgage lending in 2009 is expected to hit £145 billion, down from around £258 billion this year, and £363 billion in 2007.

CML director general Michael Coogan said: “In looking ahead to the coming year, the housing market will remain extremely subdued and net mortgage lending is likely to turn negative.

"Repayment problems will worsen against the backdrop of rising unemployment but lenders and government are working to try to reduce the negative impact on borrowers."

He added: "Recent glimmers of light in terms of government intervention to improve conditions to support new lending are helpful, but more will be needed.

"2009 will be a challenging year, but borrowers who remain in employment will see some benefits in the form of lower mortgage rates."

Homelessness charity Shelter is now warning the UK is now "sliding ever more quickly into the dark days of the 1990s housing recession" while lenders and the government stand by and watch.

"Although some steps have been taken to help struggling homeowners, it's obviously been too little too late as the number of repossessions continues to escalate, and with one million more mortgages held than in the '90s the number could be even higher," said Shelter chief executive Adam Sampson.

"These new figures are yet more bad news for many homeowners already facing a bleak winter of rising fuel and housing costs, with many severe shocks to come in the near future, including increasing unemployment, rising negative equity and the dramatic increase in homeowners falling into arrears."

He went on to call on lenders to use repossession as a last resort by giving borrowers the chance of mortgage holidays, changing to interest-only mortgages, moving to a different lower rate mortgage or working out a better payment plan.

"In the last six months a total of 463,000 people have looked to Shelter for help, and the figure is continuing to rise in the run-up to Christmas and the New Year as the financial crisis hits home harder," Mr Sampson warned.