Press Release

FIRST TIME BUYERS PUTTING OFF PLANS TO PURCHASE AS 100% MORTGAGES DRY UP

Equifax Survey Reveals 47% of First Time Buyers Have Delayed their Plans to Purchase

London, 17th April 2008 - A string of lenders have withdrawn 100% mortgage products in the last few weeks. And whilst it is widely accepted that lenders need to make responsible decisions regarding extending credit to those already carrying considerable levels of debt, the virtual elimination of the 100% mortgage is making it almost impossible for first-time buyers to get on the property ladder. In the latest survey by leading instant online credit information provider Equifax, 47% of respondents said that the recent withdrawal of 125% and 100% mortgages has delayed their plans to purchase.

"The Bank of England interest rate cuts will be welcome news for home buyers, however as lenders continue to close the door on 100% mortgages, first time buyers don't have much room for celebration," explains Neil Munroe, External Affairs Director, Equifax. "Our recent survey of consumers who have bought a copy of their credit report or credit rating revealed that 61% of those without a mortgage plan to buy a property in the next 6-12 months. But many of those were banking on getting a 100% mortgage."

According to the Equifax survey, 42% of first time buyers have less than a 5% deposit to go towards a mortgage, with only 4% having more than a 20% deposit. And, not surprisingly given the interest rate fluctuations over the last 18 months, 64% of potential home buyers are hoping to be able to get a fixed rate deal in the next 6-12 months.

"Our survey reinforces the significance of fixed rate deals to offer peace of mind to borrowers" added Neil Munroe. "Indeed, with current economic uncertainty at the front of their minds, 91% agreed with the recent budget announcement that more should be done to introduce more flexible and affordable long-term fixed rate mortgages for 10, 20 or even 25 years."

Of those not planning to buy a property in the next year, 28% said it was because they can't afford the deposit, while 18% believe they wouldn't be able to afford the monthly payments. Interestingly, the Equifax survey also showed considerable consumer understanding of the recent tightening of lending criteria by banks and mortgage providers with 18% thinking they wouldn't qualify for a mortgage and 13% believing that they are already in too much debt.

"Last week's interest rate cut should go some way to helping home buyers find affordable mortgage deals - as long as lenders pass the cut on," concludes Neil Munroe. "Even for those first time buyers that have the necessary deposit, good deals are going to be hard to find, but the lower rates should ease the pressure in the market a little. It looks like a tough year ahead for those looking to enter the property market for the first time, but by keeping a close eye on their finances and shopping around they should still be able to get a foot on the property ladder."

*Survey of 518 Equifax customers March 2008

For further press information please contact: Wendy Harrison, Cecile Stearn, Margot Tomkinson or Linda Pearson at HSL on 020 8977 9132 / Fax: 020 8977 5200 or Email: cecile@harrisonsadler.com

About Equifax (www.equifax.com)

Equifax empowers businesses and consumers with information they can trust. A global leader in information solutions, we leverage one of the largest sources of consumer and commercial data, along with advanced analytics and proprietary technology, to create customized insights that enrich both the performance of businesses and the lives of consumers.

Customers have trusted Equifax for over 100 years to deliver innovative solutions with the highest integrity and reliability. Businesses - large and small - rely on us for consumer and business credit intelligence, portfolio management, fraud detection, decisioning technology, marketing tools, and much more. We empower individual consumers to manage their personal credit information, protect their identity, and maximize their financial well-being.

Headquartered in Atlanta, Georgia, Equifax Inc. employs approximately 6,900 people in 14 countries through North America, Latin America and Europe. Equifax is a member of Standard & Poor's (S&P) 500® Index. Our common stock is traded on the New York Stock Exchange under the symbol EFX.