Released on = May 18, 2007, 1:06 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = The Bank of England\'s governor, Mervyn King, has given a
thinly veiled hint that interest rates will rise again in the very near future.

Press Release Body = Millions of homeowners are already suffering following previous
rate hikes in August, November, January and May, but Mr King appears to be more
concerned about the threat to the UK economy posed by inflation.

In a warning aimed at British businesses, Mr King said the Bank\'s monetary policy
committee (MPC) would take \"whatever further action may be required\" to ensure
inflation returned to its two per cent target - widely interpreted to mean that
rates will rise again in the near future.

Mr King is particularly concerned that a lack of spare capacity in the economy will
lead to price surges and salary escalation.

\"For now, the MPC is likely to remain firmly focused on the threat to inflation
posed by rapid money growth and rising pricing power,\" Jonathan Loynes, chief
European economist at Capital Economics, confirmed in the Guardian.

\"We continue to expect interest rates to rise again in the next few months, possibly
as soon as June. And the risks that rates will eventually reach six per cent or even
higher appear to be growing.\"

Quick sale property firm, National Homebuyers is not surprised. The company has been
predicting a rise to 7.5 per cent since late 2006. Operations manager David Harber
says: \"We have been heralding the fact that all the indicators suggest continued
rate rises. It is important that the UK homeowner is educated in these signals so
that they can act accordingly.

\"I believe that the words of Mervyn King will be misinterpreted, misunderstood or
worse still, fail to be reported at all. The homeowner must understand that with the
strength of the pound, repossessions at a 15-year high, lenders offering up to eight
times salary, the nightmare of Hip and a lack of first time buyers, this is spelling
out disaster in large neon lights. But nobody appears to be able to read what it
says.\"

National Homebuyers is the UK\'s leading fast purchase property company, making a
formal offer to purchase any property, in any condition. More information relating
to their own research and findings can be found at
www.nationalhomebuyers.co.uk/index.asp or by calling 0870 979 8118.

Web Site = http://www.nationalhomebuyers.co.uk

Contact Details = Sterling House
20 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
0870 979 8118
Fax: 0144 257333
info@nationalhomebuyers.co.uk