Released on = June 12, 2007, 3:29 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = Homeowners struggling to afford rising mortgage costs are
increasingly looking to remortgage their homes in an effort to reduce costs, new
research suggests.

Press Release Body = According to a study by financial services company Spicerhaart,
the number of homeowners choosing to remortgage their properties increased by 50 per
cent in May, as recent interest rate rises put pressure on their finances.

Remortgaging made up 28 per cent of the mortgage market in May, the company said -
up ten per cent on April\'s figure.

\"Rising interest rates have pushed up mortgage repayments and put a strain on
consumer finances,\" commented Spicerhaart\'s Steve Cox.

\"This has resulted in a substantial rise in the proportion of borrowers choosing to
remortgage their property to secure future monthly outgoings.

\"Borrowers whose fixed rate deals were coming to an end also contributed to the
increase in remortgaging, as they looked to secure a last minute short term fixed
rate deal to protect themselves against further interest rate rises.\"

Although the Bank of England chose to hold the base rate at 5.5 per cent this month,
homeowners are still struggling with increased housing costs associated with
previous interest rate hikes.

Chris Newman, director of fast purchase property firm National Homebuyers says:
\"People who are not able to find an affordable mortgage deal buy do not want to move
from their home could consider releasing equity.

\"National Homebuyers offers a \'Sell and Rent Back\' product which is available to any
anyone of any age.

\"\'Sell and Rent Back\' allows the homeowner to release up to 100 per cent of the
equity in their home, while remaining living there as a tenant.\"

National Homebuyers can also arrange a rent-free period, depending on the customer\'s
circumstances. Further information is available at
www.nationalhomebuyers.co.uk/sellandrentback.html.

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