Released on = May 29, 2007, 1:41 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = The Bank of England\'s monetary policy committee (MPC)
flirted with raising interest rates by 0.5 per cent in its May meeting, it has been
revealed.

Press Release Body = The publication of the meeting\'s minutes show that although the
eventual decision to increase rates by 0.25 per cent was unanimous, a number of
committee members were toying with the idea of a 0.5 per cent hike - the first time
a rise of this magnitude would have been effectuated since the government granted
the Bank independence in 1997.

\"For some members, the question was whether bank rate should be increased by 25
basis points or whether there was a case for a rise of 50 basis points - given the
upside risks to inflation over the medium term and the buoyant outlook for growth
and demand,\" the minutes state.

\"The decision to raise rates by the usual quarter-point was eventually taken because
of \'uncertainties\' about the impact of past hikes and concerns that a 0.5 per cent
increase might \'create downside risks to growth\'.\"

However, the minutes also show that the MPC has not ruled out another hike later in
the summer.

\"The committee agreed that, should the economy continue to develop broadly in line
with the central expectation, bank rate could be raised further as necessary,\" the
minutes advised.

UK property purchasing company National Homebuyers was aware that a 50 basis point
rise was on the cards. Director Julian King says: \"I stated publicly before the rise
that one should expect that a 0.5 per cent rise was a very real probability.

\"I also stand by the claim that the rate will rise to seven per cent or more within
12 months.

\"We are seeing the knock-on effect of the rate rises in the number of customers
whose financial problems we are solving, daily. We purchase properties quickly, all
over the UK, solving many peoples financial and accommodation problems in one\".

National Homebuyers guarantee to make a cash offer to purchase any property, in any
condition. A service that is enjoyed by homeowners needing a quick sale, for
whatever reason. More information can be found at
www.nationalhomebuyers.co.uk/index.asp or by calling 0870 979 8118.


Web Site = http://www.nationalhomebuyers.co.uk

Contact Details = Sterling House
20 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
0870 979 8118
Fax: 01444 257333
info@nationalhomebuyers.co.uk