Currently me and my partner are renting in London, which with bills included eats up around 50% of our takehome income.

It seems that if we were able to get a mortgage on a flat, we would potentially be paying less than the rent we current pay - with the bonus of owning property at the end.

However, I'm instinctively terrified of getting a mortgage (assume for this question we would be able to get one approved). While it may not be rational, my main worries are:

* The housing in London is in a bubble, which may burst in the foreseeable future (Brexit not-withstanding, this was a concern before that as well)
* I've had advice before that owning a flat is a dangerous game, as it can be near impossible to sell it in the future if needed.
* If either of us lose our jobs, a mortgage would suddenly be a giant liability.

**As we currently spend so much of our income on rent. Is it better to try to get a mortgage regardless of the current market - or are my concerns valid?**

*Right now it feels like we're throwing money in a black hole - and while we're OK for now; we are screwed when we hit retirement age.*

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For numbers clarity, our finances are:

* £35,000 and £25,000 (£60,000 total)
* Takehome: ~£3300pcm after tax, NI and pensions
* Rent: £1700 after council tax and utilities(£1425 before bills)
* Savings: ~£500 pcm
* Both of us have ~35 years of earnings before retirment age

From looking around, it looks like we could get a mortgage similar to the following:

* ~£1100pcm
* 25 years
* ~10% deposit
* ~4% APRC