Adding up the Mortgage Costs

Just as important as working out whether you can afford the one-off costs of buying (and selling, if you have to do that too) is checking that you will be able to meet the ongoing monthly cost of home ownership. Don't overstretch yourself financially and take on a larger mortgage than you can afford to pay, as you run the risk of losing your home.

To give you an idea of what your mortgage repayments will be, the table below gives the monthly cost, for different sizes of loan, of a repayment mortgage paid back over 25 years.