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

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = Interest rates are likely to be increased by 0.25 per cent
to 5.75 per cent by the Bank of England\'s monetary policy committee (MPC) in the
near future, it has been claimed.

Press Release Body = According to the Confederation of British Industry (CBI),
heightened inflationary pressures will deem the move necessary - at the expense of
British homeowners.

Recent rises to the rate of interest have already contributed to a surge in
repossession numbers, especially as people with fixed-rate mortgage products see
their deals come to an end and are subsequently exposed to a significantly higher
repayment schedule.

\"Though not a foregone conclusion, a further interest rate rise now seems more
likely than not this autumn and we have built this into our forecast,\" commented Ian
McCafferty, CBI chief economic adviser.

\"Recent oil price rises, unexpected and sharp increases in food costs, higher than
expected import prices and businesses rebuilding profit margins after last year\'s
squeeze have all added to inflationary pressures.\"

Julian King, Director of National Homebuyers comments: \"The further rate rise will
reinforce the slowdown that is already underway in the UK housing market.\"

National Homebuyers is the UK\'s leading quick sale property company. Mr King adds:
\"We have been anticipating this rise and the housing market will weaken as
homeowners are still hit with a further rise in their mortgage bills.

\"As the strain on homeowners\' finances tightens further, we anticipate a further
rise in the volume of people contacting us to find a quick solution to their
property sale\". The UK property leaders purchase properties, regardless of condition
or location from vendors wanting a quick sale.

The CBI expects inflation at the end of the year to be 2.2 per cent - still above
the Bank of England\'s target as set by the chancellor of the exchequer.

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