By Charlotte Beugge

Homebuyer's monthly mortgage payments last year were the cheapest for ten years, according to research by Barclays. It found that in 2011 on average, homebuyers paid out 15.4% of their take home pay to cover their monthly mortgage payments.

In comparison, in 2008 the figure was 20.5%. Barclays said that the lowest point since records began ten years ago was in September 2011 when the average mortgage payment fell to 15.2%, or typically £488 a month.

Barclays says that these figures support research that most homebuyers are comfortable with how much they are paying for their mortgage at the moment.

This found that 83% have room for manoeuvre should their circumstances or interest rates change and 64% find their mortgage affordable, compared with 52% this time last year.

Andy Gray, head of mortgages at Barclays, said the bank is "urging homeowners not to be complacent with this affordability and to act early on in 2012 to secure good mortgage deals, as they may be able to cut their monthly mortgage payments further".

"We know that other financial factors are likely to bite again this year, but homeowners can't afford to forget about their mortgage just because base rate is predicted to remain at record lows throughout 2012," he added.

It is important to find a mortgage that's right for you in order to ensure you do not struggle with repayments or lose your home due to the debt burden.