Released on: October 14, 2007, 11:45 pm

Press Release Author: David Bruce

Industry: Financial

Press Release Summary: After the recent increase in the Bank of England base rate,
homeowners are taking on increasing debt in order to meet repayments, a new industry
survey reveals.

Press Release Body: Norwich, UK 10 July 2007 ( ExpressPressRelease ) - - With the
continuing hike in interest rates, homeowners nationwide are feeling the heat.
Increasing numbers of homeowners are turning to borrowing to survive - news that
many industry analysts find alarming.

As more and more homeowners increase their debt burden, further interest rate
increases could have a severe impact on the economy, and could lead to an increase
in bankruptcies and debt problems without careful budgeting and financial planning.
David Bruce of Bluestar Finance
suggests that although increased borrowing can ease the problem, it is important to
make sure you borrow within your limits. \"When times get tough many people naturally
turn to lending institutions, and I would recommend this as a suitable option.
However, it\'s important to make sure you receive up-to-date, sound advice on your
options, and the legal ramifications of any lending decision you do make to ensure
your borrowing is within your means and right for your circumstances.\"

The Bank of England base rate currently stands at 5.75%, having a direct impact on
the majority of mortgages and href=http://www.bluestarfinance.co.uk/loans/homeowner_loans.php>homeowner loans
nationwide.

About:

Bluestar Finance are a Norwich-based finance company, involved in brokering secured
homeowner mortgages and personal and bad
credit loans, as well as advising clients on the current borrowing climate.

Contact:

Central Capital Ltd
3rd Floor Austin House,
Stannard Place,
St Crispins Road,
Norwich,
Norfolk,
NR3 1PX
Tel: 0845 257 9286


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Web Site: http://www.bluestarfinance.co.uk

Contact Details: Central Capital Ltd
3rd Floor Austin House,
Stannard Place,
St Crispins Road,
Norwich,
Norfolk,
NR3 1PX
Tel: 0845 257 9286