Buying a home

Last Updated: 3 April 2024

Buying a home is the biggest thing most people will ever buy, so think about it carefully. You can’t just walk away from a mortgage.

You may want to consider the option of affordable housing in south lakeland.

More than just a mortgage to pay

If you are considering buying a home, you should think carefully about the implications of home ownership:

• you will be responsible for all repairs and maintenance
• housing benefit is not available to home owners
• if you become unemployed you will not be able to get any assistance from the Government with your mortgage for the first nine months that you have no job
• you will not receive assistance with your mortgage if you stay in work but your income falls
• in addition to paying your mortgage you will have to pay buildings insurance and to be safe, mortgage payment protection insurance to cover your mortgage repayments if you lose your job

If you buy your home

The main thing to remember is to pay your mortgage and keep insurances up to date. If you are unable to pay your mortgage for any reason it is best to contact your mortgage company sooner rather than later. You can also seek advice from our Housing Options service.