Indeed, one in five (22%) householders admitted they had already made cutbacks in order to pay their mortgages.
The research from London and Country is a warning sign that it may not take much to financially stress UK homeowners should interest rates rise sharply.
The broker noted that the results came as homeowners were already having to cope with rising food and energy bills, and a hike in the cost of living generally.
In its survey of 2,005 homeowners, more than one in three (38%) added that they could not see a time ahead when they would not be paying their mortgage.
However, it argued the situation could be improved as many were not on the cheapest mortgage possible – 36% of respondents said they were on a standard variable mortgage.
London and Country Mortgages associate director communications David Hollingworth (pictured) said: “The fact that people have been making cuts in order to cover mortgage payments indicates how people feel they are just about managing in many aspects of their lives.
“We know that British households last year ran down their savings to a record low and that the cost of basics such as energy and the weekly shop are continuing to rise – so it’s no wonder that people are feeling the pressure when it comes to their monthly mortgage payments.
“The problem is that although people feel they are struggling, they are not taking steps to manage their mortgage,” he added.
When applied to the number of mortgages held across the UK, the data showed that 1.4 million UK households were struggling to pay their mortgage and 2.6 million people thought their monthly mortgage payments were too high.
Hollingworth added: “Our research has found that millions are sitting on the wrong deal, even though seeking advice could potentially save consumers some hard-earned cash by getting a better deal – and even enable them to pay off their mortgage more quickly”.