Released on = May 4, 2007, 4:21 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = Recent interest rate rises are starting to impact on the
mortgage market, it has been revealed, says National Homebuyers.

Press Release Body =

Recently released data from the British Bankers\' Association (BBA) shows unsecured
personal lending dropped by £200 million in March - following on from a similar
decrease recorded in February.

David Dooks, BBA\'s director of statistics, believes it is the Bank of England\'s
recent rate hikes that are behind the mortgage market\'s downturn.

\"Since interest rates began rising last August, higher mortgage costs have been
absorbed by households and high lending growth continued, to keep up with rising
prices,\" Mr Dooks said.

\"In the last two months, demand has moderated a little and, with no short-term
prospect of costs reducing, mortgage lending growth should ease further in the
months ahead.\"

\"Higher mortgage costs for households are no doubt a factor in the subdued demand
for unsecured borrowing.\"

Interest rates were increased by 0.25 per cent in each of August, November and
January.

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

Contact Details = Sterling House
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