Released on = July 30, 2007, 6:00 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = The latest mortgage approval data from the British Bankers\'
Association (BBA) has been described as \"soft\".

Press Release Body = Global Insight was commenting following the release of
statistics from the BBA which showed that mortgage approvals in June fell by eight
per cent compared to the same period in 2006.

The figures have highlighted the problem of affordability in the UK market and
Global Insight says that a number of factors have contributed to this.

Rising interest rates are viewed as a key element to decreasing affordability, while
modest growth in real disposable income has also played its part.

Global Insight predicts that house price growth will continue to slow over the
coming months.

Homeowners will be hoping that the Bank of England does not choose to raise the base
rate again before the year is out, however many experts predict that it will.

Julian King of National Homebuyers says that the rise is a given. \"six per cent and
rising,\" says the director of the UK\'s leading fast purchase property firm.

\"The slowdown in the market will continue but not at the speed needed by the
Treasury. It will take a few more rises for the economy to slow to an acceptable
level. This will spell disaster for many homeowners.\"

There is already a lack of buyers in the market according to the British Bankers\'
Association (BBA) that says just 193,850 mortgages for all purposes were approved in
June of this year.

\"The eight per cent fall in approved mortgages according to the BBA will be a
further kick in the ribs for homeowners expecting to achieve a sale by the end of
the summer,\" says King.

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