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Consumer Protection Act and Companies Act
dti - South Africa

THE NEW CONSUMER PROTECTION ACT AND COMPANIES ACT TO COME INTO FORCE ON 1 APRIL 2011
The Minister of the Department of Trade and Industry ("the dti") Dr Rob Davies, has, after consideration of the level of readiness of the administrative processes required for smooth implementation and having assessed requests made by affected stakeholders to prepare properly for compliance with the laws, deferred the general implementation date of both the Consumer Protection Act of 2008 and the Companies Act of 2008 to 1 April 2011. This will enable the department to finalise all processes required to effectively administer these two pieces of legislation. The dti believes that this postponement will also give business and the public sufficient time to prepare themselves for compliance with the new laws.
dti Media Release

New association established for conveyancing
Mortgage Introducer - UK
The Conveyancing Association (CA) is launching this month, aiming to bring together conveyancing companies to shape the debate on major issues facing the industry.

As lenders continue reducing the number of conveyancing firms on their panels without consultation, a new trade association warns that this move poses the greatest single threat to the future of the conveyancing industry in the UK.

Commenting, Edward Goldsmith, chairman of the CA stated: "Restricted lender panels are a huge threat for the industry, putting all conveyancing businesses at risk. We want to facilitate conversations with lenders and third parties on behalf of experienced and reputable firms that put conveyancing at the heart of their business."
Mortgage Introducer

Western Cape house price slows - FNB
RealEstateWeb - South Africa

Reflecting a market that is losing some steam.

As the 3rd quarter draws to a close, the FNB statistics for the period start to emerge, providing a picture of a slowing Western Cape property market, yet possibly one that is a little more resilient than many other parts of the country.

For the 3rd quarter as a whole, the Western Cape House Price Index rose year-on-year (i.e. the 3rd quarter of 2010 compared with the 3rd quarter of 2009) by 11.6%. While the FNB National House Price Index (published monthly) for September is still to be released, as at August its inflation rate had already declined to 7.2%, suggesting that the Western Cape is holding up a little better than the country as a whole.

However, our region doesn't defy gravity entirely, and the 3rd quarter inflation rate does represent a slowing on the 2nd quarter's revised 12.3% rate.

On a quarter-on-quarter basis, (the 3rd quarter compared with the previous quarter), the inflation rate was 1.4%, down from 2.9% in the 2nd quarter, and the 2nd successive quarter of decline in the quarter-on-quarter inflation rate.
RealEstateWeb

Secure platform will help conveyancing
Mortgage strategy - UK
The mortgage market is investing a lot of time in trying to assess the scale of fraud. It's a different world now, where innovation is geared towards identifying and controlling fraudsters.

It seems like only yesterday that instead of spending all one's time and effort on frustrating fraudsters, we were geared towards product development, instant offers, novel pricing strategies and the grandest of marketing plans.
Mortgage Strategy