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

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = The rising cost of living in London means it is now the
second most expensive city in which to live in the world, it has been confirmed.

Press Release Body = The news will come as a further blow to homeowners in the
capital, many of whom are already struggling to cope with increasing interest rates.

According to Mercer\'s Cost of Living Survey, London has climbed from fifth on the
list of most expensive cities to live in the world to second in the last year alone.

Mercer\'s assessment is based on comparing the costs of each city with those of New
York, with Moscow coming out on top, with Seoul, Tokyo and Hong Kong trailing London
to complete the top five.

Included in the survey are the costs of renting a flat, a cup of coffee,
entertainment, clothing and food.

The rankings are used by a number of international companies to assess how much they
should be paying their international employees.

However, as Britons\' pay packets are likely to remain unchanged, increasing costs
are sure to result in heightened affordability concerns.

Julian King, director of fast purchase property leaders, National Homebuyers says:
\"Affordability is not just a London issue.

\"We receive many hundreds of calls every week from people who are concerned about
their ability to meet their mortgage payments.

\"The increase in interest rates is a country-wide affair and people facing financial
difficulties need to assess their options before it goes too far.\"

National Homebuyers say enquiries relating to \'potential repossessions\' and
\'financial difficulty\' are at an all time high. The Sussex-based company offers a
number of solutions to the homeowner, including sell and rent back where the vendor
can sell their property, but remain living there as a tenant. Further information is
available at www.nationalhomebuyers.co.uk/index.asp

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