If you think it is all plain sailing once you secure a mortgage to buy your own home, think again.
The hard part is by no means over once you take your first step on to the property ladder, with research indicating that we are now more likely to be in mortgage arrears than a year ago.
As reported by the Financial Times, research by Standard & Poor's revealed that some 3.8% of homeowners were behind on their mortgages in the final three months of last year, whereas just 3.2% of homeowners were in a similar position in the second quarter of 2010.
You are more likely to be in mortgage arrears if you live in the North, where 4.4% of households are behind on their mortgage, compared to just 3.4% of homeowners in the South.
In addition, an increasing number of us owe more money on our mortgages than our properties are worth.
Some 5.6% of homeowners were in negative equity between October and July last year, whereas only 3.6% of homeowners were in a similar position between April and June of 2010. Again, the situation was more worrying in the North.
If you are unsure about which mortgage offering suits you best, this guide to finding the right mortgage deal could prove useful.