Released on = July 13, 2007, 5:03 am

Press Release Author = Loans Bazaar

Industry = Financial

Press Release Summary = In a quirky twist of fate, the affordability of first-time
buyers is set to rise due to the increase in the interest rate by the Bank of
England.

Press Release Body = 12th July, 2007: Recent figures from the Royal Institution of
Chartered Surveyors (Rics) claim that houses prices have come don slowly in June as
compared to the previous month.

Real estate prices have finally begun to slow down for the first time since the boom
in the housing market started in 2006 stated Rics spokesperson Ian Perry. And, there
might be further softening of house prices in the coming months.

As of now, there is a possibility that the July rate increase may not mark the peak
of the current interest rate cycle. In fact, the earlier rate rises also have not
been fully filtered through.

In fact, due to the repeated rises in the base rate, the Council of Mortgage (CML)
recently counselled consumers on the benefits of switching to an offset mortgage.
The extra interest amassed on the savings due to the interest rate hikes could
improve affordability by offsetting against a larger borrowing share.

For additional information on the news, that is the subject of this release (or for
a sample, copy, or demo), contact Webmaster, or visit http://www.loans-bazaar.co.uk


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