Released on = August 22, 2007, 3:33 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = Homeowners are likely to see their mortgage payments rise in
the coming months.

Press Release Body = The Bank of England has published its Quarterly Inflation
Report, in which it was made clear that the base rate needs to hit six per cent in
order to bring inflation down.

If rates stayed at their current level of 5.75 per cent, it is claimed that
inflation would not be brought back down to the two per cent target set by the
government.

The report looked at trying to hit this target in two years\' time and a number of
factors have led to the hint that rates will reach six per cent this year.

\"The scope for further upwards pressure on commodity prices, the limited margin of
spare capacity and the continued elevation of some measures of inflation
expectations and pricing intentions mean that the balance of risks is judged to be
slightly on the upside,\" said the report.

Property purchase expert Julian King says: \"This is terrible news for tens of
thousands of homeowners who have already seen the base rate increase from 4.5 per
cent to 5.75 per cent in the last 12 months.\"

Mr King is a director of the UK\'s leading fast house purchasing firm, National
Homebuyers. The quick sale company guarantees to make an offer to purchase any
property quickly, regardless of its condition or location.

\"Potential buyers will also be affected. They are likely to be further put off from
entering the market for fear of being caught out by rising rates.

\"Lack of buyers means it will be even more difficult for vendors to achieve a sale.\"

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