Released on = May 9, 2007, 1:51 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = Average mortgage payments have increased by 15 per cent in
the last year, it has been revealed - putting British homeowners under increasing
financial pressure says National Homebuyers.


Press Release Body = According to Woolwich Mortgage Affordability Research, the
average mortgage repayment in England and Wales was £590 a month in April - up from
£512 in April 2006.

What\'s more, household net earnings have risen at a third of the rate - five per
cent - of average mortgage payments, heightening homeowners\' financial concerns.

Andy Gray, head of Woolwich Mortgages, believes that the combination of the two has
left homeowners under severe pressure - even without the interest rate rise
forecasted for later this week.

\"Mortgage borrowers are really getting squeezed,\" he confirmed.

\"With the costs of council tax, petrol, food and drink, as well as mortgages, all
increasing consumers are seeing a large amount of their earnings being diverted to
essentials, putting real pressure on disposable income.

\"Most commentators are suggesting that interest rates will increase further this week.

\"However, our research shows that that the three interest rate increases over the
last 12 months are already starting to have a major impact on borrowers.\"

We contacted the UK\'s number one homebuyer - National Homebuyers and spoke to
director Julian King who advised: \" We believe with a further rate rise on the cards
this week we are potentially about to see a very serious situation emerging as more
and more people start to slide down that slippery slope ultimatley leading to
repossession.

\"We are being inundated with people wanting to sell their homes and then remain
living there as a tenant which we are happy to do and in most cases we can structure
a package to suit, allowing our clients to clear debts and mortgage arrears and move
on with their lives\".

If you would like to contact National Homebuyers to find out how they can help you
then either call them on 0870 979 0900 or www.nationalhomebuyers.co.uk.

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