Making monthly mortgage repayments should be a property owner's top priority when it comes to budgeting, according to one industry expert.

Barney McCarthy, editor of home loan advice website Your Mortgage, was commenting after LV= published research that indicated 65 per cent of homeowners think burglary is the main threat to their property.

Some 16 per cent fewer property owners said that being unable to pay a mortgage was the primary danger to their home.

"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,"Mr McCarthy explained.

However, he added that insurance is still an important consideration for all homeowners, including private landlords.

Indeed, both the National Landlords Association and the Association of Residential Letting Agents have recently warned those who rent out homes that they must take out cover to protect their income - especially in such a tough economic climate.

Written by Claire Doyle

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