| RedSofa launches THINK campaign.
Property investment company RedSofa have launched their latest marketing campaign - THINK. This campaign has been designed to highlight the growing trend of homeowners taking out further debt in order to prevent themselves falling into arrears with their existing monthly financial commitments.
[UKPRwire, Sat Mar 17 2007] Taking out further debt, which is usually secured against their home, is not a solution which is recommended, as this can cause further problems, as homeowners struggle to afford the increased monthly payments. By increasing the debt, homeowners just increase their risk of defaulting, and ultimately are more exposed to potentially having their home repossessed.
Research from Moneysupermarket.com has revealed that 28% of UK consumers have consolidated their debt by taking out a personal loan, 8.5 million of the 13 million consumers who consolidated in this way actually continued to borrow further through either their overdraft or additional loans.
Fixed-rate dilemma as bank shuns rise
FOR HUNDREDS of thousands of homebuyers across Scotland, the last few months have been full of uncertainty. Will base rates rise further? When might it happen? What will the impact be on mortgage costs? And what should borrowers do next? Despite last week's decision by the Monetary Policy Committee (MPC) to leave rates unchanged for one more month, most experts believe we are set to face a further rise some time this year. In turn, this has left many borrowers asking themselves the same questions once again. Yet while some answers - perhaps it would be better to call them predictions - are reasonably well known, others are less clear. .
Minister Taking Interest in Turn Around Strategy of Land Bank
In November last year, the Departments of Agriculture and Land Affairs held a Lekgotla to review progress on priority programmes of the departments, identify challenges, align our programs and capacity to deliver, and fast track delivery. Among the priorities identified was the Land Bank, and our aim was to turn around and refocus the Land Bank to ensure that it delivers on its mandate, particularly its contribution to promoting previously disadvantaged individuals in the agriculture sector, development in the agriculture sector and AgriBEE, and that it remains sustainable. Support to the previously disadvantaged communities by the Land Bank should assist Government in the redistribution of 30% of agricultural land by 2014 and other land reform objectives. Government has reaffirmed its support to the Land Bank by extending a capital guarantee of R1.5 billion, and a further cash injection of R700 million to support its turn around strategy and to provide a prudent level of capital adequacy to ensure that the Bank fulfils its mandate.
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