Released on = May 4, 2007, 4:19 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = Repossessions will almost certainly rise in York and North
Yorkshire should the Bank of England\'s monetary policy committee decide to raise
interest rates in its May meeting, a regional expert has alleged, says National
Homebuyers.

Press Release Body =

Kevin Hollinrake, joint chief executive at York-based Hunters Property Group,
believes inflationary pressures will enforce a rate rise - which could potentially
devastate the local housing market.

\"Inflation has now reached its highest level in more than 14 years and it seems
almost certain that we will see an interest rate rise next month,\" Mr Hollinrake
told Newsquest.

\"This is bad news for anyone with a mortgage, and could even lead to a further rise
in home repossessions. Were the base rate to rise half a point to 5.75 per cent, the
increase could be as high as £80 per month for those with a £200,000 loan.

\"Homeowners and those investing in residential property need to be prepared and take
this into account when arranging any new mortgages and by reviewing their current
mortgage deals.\"

The Leeds market would be particularly hard hit, Mr Hollinrake suggests, as supply
already exceeds demand in the area.

Web Site = http://www.nationalhomebuyers.co.uk/newsarticle.asp?ID

Contact Details = Sterling House
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