New Website - Wizard Midrand Home Loans

Well... I figured since everyone here is an avid fan of the Wizard Home Loans and SA property sites :) that I'd give you the readers the first chance to comment, bitch, moan, groan and praise on the new look and feel of our website.

Currently i've got a BETA version of the site up and running and would really really love some critisicm and feedback from all of you.

Let me know what you think.
http://digitalbone.co.za/wizard-test/index.html

Thanks in advance, if anyone really cares ;-)

Labour Relations Act - Changing SA Business Forver

The new labour relations act is coming in 2010.

After reading this article on the Standard Bank Espresso Magazine newsletter, I was almost excited to see that South African business practice and business in general is set to change forever.

It's time to sift out the rubbish in South Africa, and let real businesses start moving forward. There will be no more getting away with selling bad products to the South African consumers. No more fraudulent insurance policies and bond originators charging exorbitant fee's. This is a major step forward.

For any small / medium or large business owner, you'll want to read this article.

It's official: The way that business is done in South Africa will fundamentally change from October 2010 when the Consumer Protection Act kicks in. For business owners, it is the most far-reaching law since the Labour Relations Act.

http://www.standardbank.co.za/site/business_banking/espresso/Clickthroughsissue8/MainNews_01_pg1.html

Interest rates remain unchanged

News Flash: Michael Jackson passed away last night! A sad time in the history of music! A man light years ahead of his time, and the most influencial pop musician of ALL time. His music will sorely be missed by all, but a legacy will always remain!

Tito Mboweni's decision yesterday to keep rates unchanged has shocked some, but with inflation levels staying at around the 8% mark, it's no wonder.

After dropping the interest rate more than 5 times this year already, and inflationary levels not dropping at quite the speed the reserve bank were hoping, Tito's decision remains a solid one.

There's loads of speculation out there with talks about rates going back up and people needing to fix rates now, but with GLOBAL economies sitting at the levels they're currently sitting at, it's not possible. If anything I believe we'll see a another drop in the next month or two and then we'll stabilize!

Cleaning up your credit record

When working in the Home Loan business and seeing how people fall into debt you enter into a world were people are drowning and we are constantly in a field that needs advise. Don't wait until its too late to sort out a potential debt problem. Do a credit check. Clean up your credit record. Its not something to be ashamed of, but it is something that should be managed sooner, rather than later, when the pressures have reached insurmountable proportions.

By negotiating lower interest rates and waived late fees, you can often arrange more affordable payments and shorter payoff periods. You can also consolidate your debts into one convenient monthly deposit that will disburse directly to your creditors.

Once you acknowledge your debt and get your payment plan into place, its amazing how quickly your stress levels drop. Your creditors are more likely to be understanding and accept that they will be paid, and the pressure on you is reduced to manageable proportions.

Labeling the cause of your debt overcomes the hurdle of denial and sets the course clear to financial rehabilitation.

Few things in life cause more tension than a debt crisis. Do not tackle this alone. Ask those closest to you to help see you through this difficult time.

Can you deal with bad debt?

If you need a debt counselor use a reputable organisation and check what it is going to cost before you sign up, and in many instances your bank can help you.

Will South Africa get another Rate Drop

So there's alot of talk and speculation again about another interest rate drop....

24 out of 26 economists in a Reuters poll last week predicted that the MPC, which has seven members, will lower the Bank’s key repo rate by half a percentage point to 7%. That would bring the cumulative reduction over the past seven months to five percentage points, taking prime lending rates back to the level they were at in 2003.

Electricity utility Eskom is asking for a 34% tariff annual increase.
So while producer inflation has braked sharply, consumer prices remain high and central bank governor Tito Mboweni warned after last month's meeting the policy committee was unlikely to go for more big cuts.

Powerful trade unions, close allies of the ANC, have demanded more action from the Reserve Bank and government to save jobs and propel the economy out of recession.

For additional articles relating to the potential rate cut:

http://www.businessday.co.za/articles/Content.aspx?id=73758

http://www.fin24.com/articles/default/display_article.aspx?ArticleId=1518-25_2531251

http://www.moneyweb.co.za/mw/view/mw/en/page87?oid=298839&sn=Detail