Released on = August 9, 2006, 11:58 pm

Press Release Author = Shakespeare Finance Ltd

Industry = Financial

Press Release Summary = London (bad-credit-mortgage-choice): July 8, 2006: According
to Paul Niven, head of asset allocation at F&C Asset management, the increase in
interest rates came as a shock to financial markets. However, market had already
suspected the hike, thus prices were increased, but with this hike in the fourth
quarter, there is a possibility of another hike in interest rates before the end of
the year.

Press Release Body = Well, first interest rate rise in two years came as a big
surprise for Britons and as a shock to financial market. With this increment in the
fourth quarter, there is a possibility of further increase before the end of this
year. There is no need to worry for someone who has gone for fixed rate mortgages,
but other will see a definite rise in payments.

London (bad-credit-mortgage-choice): July 8, 2006: According to Paul Niven, head of
asset allocation at F&C Asset management, the increase in interest rates came as a
shock to financial markets. However, market had already suspected the hike, thus
prices were increased, but with this hike in the fourth quarter, there is a
possibility of another hike in interest rates before the end of the year.

This decision has been taken by the Bank of England's Monetary Policy Committee
(MPC) to increase the interest rates by 0.25 per cent to 4.75 per cent.

Mr Niven quoted: "Interest rate futures prices are now pricing in a further hike by
the end of the year which would take rates to 5 per cent, and bond markets have
weakened with yields rising." He further added \"Equity markets weakened in the
immediate aftermath of the hike, as investors grew increasingly concerned about the
housing market, and as one would expect, the interest rate sensitive sectors
weakened such as the house builders, real estate stocks and mortgage banks.\"

These developments clearly show that it would affect the consumers directly.
However, there is no need to worry about this increment for consumers with fixed
rate mortgage. While other consumer who have gone for standard mortgages like bad
credit mortgage, bad credit mortgage refinance, bad commercial credit mortgage will
certainly see a rise in their payments.

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