Released on = May 4, 2007, 12:50 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = First-time buyers are being forced to spend a higher
proportion of their income on mortgage repayments than they have at any time since
the mid 1990s, it has been revealed says National Homebuyers.


Press Release Body =
Interest rate rises effectuated by the Bank of England\'s monetary policy committee
(MPC) in the last ten months coupled with house price inflation have made it
increasingly difficult to climb onto the first rung of the property market,
according to the Council of Mortgage Lenders\' latest market commentary.

Those who do manage to finance the purchase of their first property now have to pay
a higher percentage of their income to cover mortgage repayments.

First-time buyers used up 18 per cent of their salaries on mortgage repayments in
February, the CML discovered - up from 16 per cent the previous year.

As a result, many homeowners are now vulnerable to an interest rate hike.

However, those who do find themselves in difficulty could consider selling their
homes to National Homebuyers and then renting them back. Director of the fast
purchase property company Julian King says: \"We are offering a hand to those who
have no desire to sell their house but find the financial pinch too tight to manage.
Our sell and rent back option allows people to sell their homes, releasing the
equity in their property and then rent it from us indefinitely.\"

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

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