Released on = July 30, 2007, 6:02 am

Press Release Author = Charlotte Burrows

Industry = -

Press Release Summary = Affordability in the UK housing market has decreased
rapidly, with mortgage approvals plummeting by eight per cent according to the
latest figures.

Press Release Body = The British Bankers\' Association (BBA) says that just 193,850
mortgages for all purposes were approved in June of this year.

That signals an eight per cent decrease on the figure recorded in June 2006 and
displays a worrying trend for people who are looking to sell their home.

A total of £21.5 billion was borrowed in the month, beating previous records, but
the BBA points out that this is an annual increase of just five per cent.

According to the organisation, this suggests that lending growth is slowing in real
terms.

\"Although the trend in net mortgage lending is being maintained, approval numbers
for house purchase are well down on this time last year, suggesting that market
demand may be reacting to higher mortgage costs,\" said David Dooks, director of
statistics at the BBA.

Julian King of National Homebuyers says homeowners should be seriously concerned at
the plummeting number of mortgage approvals. \"This will make selling their property
extremely difficult,\" he says.

National Homebuyers is the UK\'s fast property purchase firm, guaranteeing to make an
offer on any property surveyed for vendors in who need a quick sale.

\"The lack of buyers is already having an effect on the homeowners\' ability to sell
their property. Fewer people are able to get onto the property ladder and although
people are seeking new agreements because of the rise in interest rates, it seems
that they are not finding a deal.

\"This means that the number of available people to purchase a property for sale is
dramatically reduced and therefore so is the home sellers\' ability 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