Released on = May 4, 2007, 2:34 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = Fewer people are taking out mortgages to move home, it has
been revealed, suggesting that the property market is cooling saya National
Homebuyers.


Press Release Body =
Figures released by the Bank of England show mortgage approvals for those moving
house fell to an 11-month low, with house price inflation also set to ease as a
result of this dip in demand.

\"Today\'s figures again emphasise that the UK housing market is cooling in response
to the interest rates increases since last August,\" David Stubbs, senior economist
at the Royal Institution of Chartered Surveyors (Rics), commented.

\"The level of mortgage approvals is now 13 per cent down on their peak in November
and we expect them to fall further in coming months.\"

Interest rates were increased by the Bank of England\'s monetary policy committee
(MPC) in August, November and January - while a further hike is expected this month
as a result of inflationary pressures.

Fast purchase property company National Homebuyers reminds homeowners that the
introduction of home information packs on June 1st will further disrupt the property
market. Director Julian King adds: \"The optimism has ended. The introduction of
Hips, interest rate rises up to 7.5per cent, consumer debt at an all time high and
repossessions at a 15-yeat high are all brightly coloured neon signs pointing to a
dramatic fall in property prices.

\"Thousands more people are contacting National Homebuyers to sell their house now,
before the full effect of a market downturn takes place.\"

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

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