Released on = May 4, 2007, 3:15 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = Mortgage demand is weakening amid fears of the impact of
higher interest rates, it has been confirmed says National Homebuyers.

Press Release Body =

Figures from the British Bankers\' Association (BBA) show eight per cent fewer
mortgages were confirmed in March than they were a year previously, as many Britons
are anxious about the implications of overstretching themselves financially in a
period of economic uncertainty.

Meanwhile, despite gross mortgage lending rising by five per cent to £18.6 billion,
underlying net mortgage lending rose by just £5.5 billion, which is below the recent
average of £5.5 billion.

However, the average loan approved for house purchase was up 12 per cent on last
year\'s equivalent, suggesting some people might have put themselves at risk of
repossession by taking on too much debt at the wrong time.

\"Strong levels of gross mortgage lending reflect homebuyers and homeowners seeking
out fixed rate mortgages as protection against rising interest rates,\" commented
David Dooks, BBA director of statistics.

\"However, in the last two months net lending has risen less sharply and, compared to
the same time last year, the number of mortgages approved in March was lower,
indicating that weaker demand is starting to emerge.\"

UK fast property purchase company National Homebuyers states this situation could
spiral out of control. Director Julian King says: \"As we are in contact with
thousands of British homeowners, we are not surprised at the increasing volume of
people who are contacting us to purchase their property quickly because they are in
or predict severe financial shortfalls in the coming months.

\"The interest rate hikes, increase in repossessions and increase in number of loan
applications from homeowners all show that the consumer is predicting their own
financial shortfall.\"

Web Site = http://www.nationalhomebuyers.co.uk/newsarticle.asp?ID

Contact Details = Sterling House
20 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
08709798118