When you are buying a house you should think about the "what ifs".
Who will pay the mortgage if the "what ifs" become reality? Thinking about the risks of what might happen once you've settled into your home means you can make sure you are fully prepared to face any financial difficulties.
There are other "what ifs" associated with having a mortgage that you will need to think about. What if interest rates rise? What if you have an interest-only mortgage and your savings plan does not pay out enough to pay back the capital?
If interest rates rise, you needn't be too concerned if you have a fixed rate mortgage until the fixed rate period expires. However, if you have a variable rate mortgage then your monthly payments are likely to increase. Make sure you take this into account when choosing your mortgage and deciding how much to borrow.
If you are have other debts and are having difficulty paying them back, you could consider consolidating them with your mortgage. For example, most store cards or credit cards have a higher interest rate than a mortgage so consolidating your debts could decrease your total monthly repayments. However, this approach may increase the risk of you not being able to afford to repay your mortgage each month.
If all else fails, you could sell your house to pay off the mortgage and use whatever money is left over buy a cheaper property.