Homebuyers should consider how they would meet mortgage payments if illness or injury affected their income, Royal London has said.
UK house prices rose by 2.7% in the year to May 2026, adding to the financial pressures facing people seeking to buy a home.
Clare Moffat, finance specialist at Royal London, said the larger mortgages associated with rising prices could leave households more vulnerable to an unexpected loss of income.
Moffat said: “Rising house prices mean many buyers are having to stretch further financially in order to get on the property ladder. While getting the keys to a first home is a huge milestone, it’s also important to recognise that taking on a large mortgage can leave households more exposed to unexpected financial shocks.
“For many people, monthly mortgage payments will become their biggest outgoing, often for decades. That’s why building financial resilience should be part of the home-buying journey.
“Having accessible savings, understanding your workplace benefits and considering how you would cope financially if illness prevented you from working can all help create a stronger foundation for home ownership.
“For those currently renting but hoping to buy a home in the future, protecting your income matters too. A spell of ill health could force you to dip into savings or slow your progress towards a deposit.
“It’s not always an easy priority when you’re focused on saving, but putting protection in place earlier can often make it more affordable.
“It’s easy to focus solely on saving for a deposit, but long-term financial security is about more than getting onto the property ladder. It’s about ensuring you can stay there if life doesn’t go according to plan.”