Released on = June 22, 2007, 2:43 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = Further rises in interest rates will result in a surge in
repossessions, it has been claimed.

Press Release Body = Data released by the Department of Constitutional Affairs (DCA)
has already revealed that repossession claims and orders are on the up, increasing
as they have by one per cent from the last quarter of 2006 to the first quarter of
2007.

However, solicitors at Moore Blatch have suggested that this rate of growth will
increase should the Bank of England\'s monetary policy committee decide - as has been
widely predicted - to hike interest rates in the near future.

Unusually, Paul Walshe, head of lender services at Moore Blatch, expects the
majority of repossession orders to be issued to buy-to-let mortgage holders, as rate
rises take longer to filter through to ordinary homeowners.

\"Repossessions lag behind certain events, such as interest rate rises,\" he confirmed
in Mortgage Strategy.

\"This is because often the rises do not impact immediately and the borrower may be
on a fixed rate deal. Repossession also often only occurs in conjunction with
another event, such as employment issues, family breakdown or divorce.

\"What we do expect to be impacting more quickly is a rise in buy-to-let possessions,
especially if the housing market weakens and landlords are unable to sell quickly.\"

The UK\'s leading fast purchase property firm, National Homebuyers says the north of
England should be especially cautious. Director Julian King says that, according to
the DCA, \"498 homeowners in the Northumberland area faced the prospect of
repossession in 2006 compared with just 385 in 2005 - an increase of 29 per cent\".

\"This is echoed across other northern towns and amateur landlords could be setting
themselves up for a fall,\" he furthered.

\"Because we experience increasing volumes of would-be successful landlords
contacting us to buy their property quickly before their negative financial
situations increase, we can only assume that we will be handling more cases after
the next interest rate rise.\"

National Homebuyers is the UK\'s leading fast property purchase firm, guaranteeing to
make an offer to purchase any property in any condition. The business throws a
life-life to owners who are struggling in the current financial climate.

Web Site = http://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