Released on = May 22, 2007, 1:34 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = For the first time since July 2005, year-on-year mortgage
approvals have fallen, it has been revealed.


Press Release Body = Statistics released by the Building Societies\' Association
(BSA) show mortgage approvals in April were down eight per cent on the equivalent
month\'s figures for 2006, at only £3,910 million compared with £4,248 million.

What\'s more, net advances were also down on April 2006 levels, from £1,106 million
to £1,031 million.

As a result, Adrian Coles, directory general of the BSA, believes the effects of
recent rises in interest rates are starting to take hold.

\"The lending figures suggest that the effects of the four rate rises since August
2006 are beginning to show,\" he confirmed.

Despite this, Mr Coles expects demand for mortgages to remain \"healthy\" - although
he does concede that growth will be further dampened following another interest rate
rise.

This is a distinct possibility, with analysts from National Home Buyers predicting
interest rates could reach at least seven per cent before the end of the year.
Director, Julian King says that the indictors have always been there. \"Where are the
first-time buyers? Either they are unable to take their first step onto the property
ladder or once they do, they find that the arrangement is lifestyle prohibitive and
have to step-down.\"

\"With the introduction of Hips, the general market slow-down, high prices of
properties and the ridiculous lending level from mortgage companies, we expect more
and more people to try and find alternative solutions to selling their property to
fund their lifestyle.\"

National Home Buyers is the UK\'s leading quick sale property company, allowing
vendors to sell their properties quickly or arrange a Sell and Rent Back solution.
Further information is available 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: 01444 257333
info@nationalhomebuyers.co.uk