Released on = May 11, 2007, 1:28 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = The decision of the Bank of England\'s monetary policy
committee (MPC) to increase interest rates to 5.5 per cent will have a significant
impact on first-time-buyers and low-income groups, it has been claimed.

Press Release Body = Chris Newman from the UK\'s leading \'sell and rent back\'
property firm, National Homebuyers says: \"This will have a huge effect on people\'s
lifestyles. With the property market slowing, fewer available purchasers and the
increasing threat of debt, we predict this will be disastrous for thousands of
homeowners already on the brink of desperation.\"

Vicky Redwood, UK Economist for global macro-economic analysis firm Capital
Economics, believes that while the rate rise \"isn\'t huge\" by any means, it is enough
to leave number of Britons in severe financial difficulty.

Coupled with increasing house prices, Ms Redwood suggests, the hike will leave
first-time-buyers struggling to climb onto the first rung of the property ladder.

Meanwhile, the impact of higher mortgage interest repayments could leave many
households struggling to pay their bills.

\"In itself a quarter of a per cent isn\'t huge, but when you take it on top of the
three rate rises we\'ve already seen, and the fact that house prices have still been
rising by ten per cent a year, it makes it even harder for first time buyers to buy
their own house,\" Ms Redwood said.

Chris Newman concludes: \"The significant difference for most many households will be
the increase in mortgage interest payments.

\"As people begin to realise that access to the funds locking in their home is their
only solution, our sell and rent back product is receiving sizable increases in
interest from home owners in financial distress. We will be happy to discuss or find
a solution for anyone concerned about today\'s rise.\"

For further information on a quick house sale or to release equity in your home,
please contact National Homebuyers on 0870 979 8118 or visit
www.nationalhomebuyers.co.uk.

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