Repaying mortgages 'should be top concern'

Posted: 28 Oct 2009 11:53:55 GMT

Property owners have been told that they should ensure that making their monthly mortgage repayment is the highest priority.

Barney McCarthy, editor of consumer advice portal Your Mortgage, has claimed that this is the most important financial commitment for homeowners.

Commenting on the back of research from insurance group LV=, which indicated that 65 per cent of mortgage holders think burglary is the main threat to their property, the mortgage expert warned consumers to get their priorities straight.

He said: "It is good to see that homeowners are being security conscious and mindful of threats to their property, but this shouldn't be at the expense of missing their mortgage payments."

The survey from LV= found that 49 per cent of people who own their home said that being unable to meet mortgage repayments was the primary danger to their property.

Meanwhile, spokesperson for Let Insurance Services Malcolm Harrison recently advised landlords that it is vital they consider rent insurance in the current economic climate.


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