Released on: November 19, 2007, 6:51 am

Press Release Author: Charlotte Burrows

Industry: Real Estate

Press Release Summary: Potential homebuyers may be put off entering the market due
the global credit crunch which has affected many mortgages.

Press Release Body: GE Money Home Lending says that one in four deals handled by
brokers have been impacted by the credit squeeze.


This could force many potential buyers to reconsider, spelling bad news if you are
looking for someone to buy your property.


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\"Our latest research shows that not only have 87 per cent of brokers experienced
deals that have encountered problems due to lenders withdrawing product ranges or
making changes to pipeline dates at short notice, but that a staggering 23 per cent
of all mortgage applications have felt a direct impact from the current global
credit crunch,\" said Duncan Berry, sales director, GE Money Home Lending.

\"During these challenging times there will inevitably be changes to ranges with
shorter notice periods, but communication is key and lenders should endeavour to
give brokers reasonable notice to alterations in product ranges and changes to
pipeline dates,\" he added.

Fast property sale expert Julian King adds, \"Selling a home will get more and more
frustrating next year.



\"The lack of buyers, for which the credit crunch is partly to blame, will limit the
number of buyers available for the volume of properties expected to hit the market
in the first quarter next year.


\"As homeowners find the sales process longer and more costly since the introduction
of Hips and as estate agents increase fees to keep their business running, many
homeowners needing a quick sale will be looking to National Homebuyers for a quick
house sale\".



Mr King is a director of National Homebuyers, the UK\'s leading fast property
purchase firm, guaranteeing to make a formal offer to purchase any property in the
UK for vendors who need a quick sale. As a private commercial buyer, the company
does not require a Hips pack to be in place in order to buy property quick.

The Council of Mortgage Lenders recently revealed that gross mortgage lending fell
in September.

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