Credi news and media releases

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Credi’s CEO Tim Dean Live on Sky News with Ticky Fullerton

Tim Dean, Credi’s CEO was live in Sky News Sydney’s studio this month, talking with Ticky Fullerton. The bank of Mum and Dad is a constant reminder of the significant number of Australian’s lending money between family and friends. Although this process can be seen as unsafe and may put relationships at risk, it’s still something that most Australian’s do.

Tim Dean explains in the interview that Credi.com helps to make this process formalised through an inbuilt contract in Credi’s platform, along with providing users with loan management features. With $28 Million worth of loans and 1000 users on the platform, it’s safe to say Credi is helping Australian’s protect their relationships and lend in a safe and manageable way by formalising the process.

 

Sky News Ticky and Credi

Credit: Ticky Fullerton

Source: SkyNews on Youtube

 

 

 

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Credi live on Sydney’s 2UE 954 News Talk with Peter Switzer

Live from Sydney, Tim Dean joined Peter Switzer, the host of 2UE 954 News Talk, for an interview about Credi. Tim goes into detail about Credi and how the loan agreement created when building a loan helps Credi users formalise their agreement and feel peace of mind when lending.

2UE News Talk logo

 

Credit: Peter Switzer

Source: 2UE 954 News Talk Sydney

 

 

 

 

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Credi’s new records in July 2017

Stats July 2017

Credi.com, the platform that powers “the Bank of Mum and Dad” – has set new records this July 2017. Overall the platform has exponentially increased the number of users and overall loans on the platform.

This July 2017 saw $26 million worth of loans set up to be managed and formalised on the platform. With $8.5 million of this being active/live on our platform – seeing a 61% increase from last month.

The platform is also 46 away from reaching 1000 users on the platform. This has overall seen a 62% increase from last months user statistics.

Keep an eye out for more to come and next months statistics.

 

 

 

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Credi live on air with Ben Davis at 4BC 1116 News Talk

Credi was featured live on air with 4BC 1116 News Talk’s Ben Davis. New research has found that more than $1 billion worth of informal loans are made each year. A significant number of these were from parents. Credi, overall, takes away the emotional pressures when lending money to family and friends.

4BC 1116 Radio Logo

 

Credit: Ben Davis

Source: 4BC 1116 News Talk

 

 

Really Moving: A guide to help you afford to buy a home

Really Moving buying a home

Really Moving’s guide to buying a property help’s you determine whether you can afford to buy a new home, highlighting the influence of the Bank of Mum and Dad.

For Really moving the most important step in deciding to buy a new home is to determine whether you can afford it, which doesn’t always mean keeping up with mortgage repayments. They highlight that purchasing the property and mortgages are just the beginning of the expenses when buying a home. People often forget or don’t realise the upfront expenditure that is required.

Really Moving highlights these initial costs and lays out a strategy to help you afford to buy a property. An important lender in the property market that they mention and suggest to use is the Bank of Mum and Dad.

Credit: Really Moving

Source: www.reallymoving.com/

 

 

 

Market Research by Vox Pops in the UK

Market research in the form of interviews on the street with locals, by Vox Pops, highlights the influence of the Bank of Mum and Dad in the UK. Vox Pops short 50-second video shows select subjects sharing their views and experiences of the Bank of Mum and Dad in their lives. Ranging from teenagers parents who’ve admitted to financially supporting their kids, to young adults admitting they still living at home with their parents. This Market research is just one of many publications showing both the negatives and positive effects of the Bank of mum and dad, and ultimately the impact they have in the United Kingdom.

 

Market Research of Bomad in UK

 

Credit: Titan Events and Vox Pops

Source: Vox Pops via Youtube

 

 

 

First Home Buyers Worry About Finances Even With The Help of BOMAD

First home buyers

A new survey from the Canada Mortgage and Housing Corporation (CMHC) shows that first home buyers still worry about their finances even after receiving support from family for a down payment on a home. 18% of first time home buyers shared that their down payment included a gift from family. These individuals who’ve received help from family further said they felt less comfortable with their mortgage debt and were unsure of where to turn if ever in financial trouble.

The Bank of Mum and Dad are a large contributor to the property market and are a significant lender to first-time buyers. However, can BOMAD really make a difference when there’s a broken housing market and now a change in mortgage rules?

Credit: CBC News

Source: www.cbc.ca

 

 

Lending £6.5 billion: The Bank of Mum and Dad

Lending £6.5 billion: The Bank of Mum and Dad

Overall, in 2017, the Bank of Mum and Dad is expected to be one of the greatest lenders in the United Kingdom, lending £6.5 billion. What’s the most popular reason for lending BOMAD lending their children money you ask? The Bank of Mum and Dad continues to financially support their children in buying their first home, as first-time buyers continue to struggle to save for a home. It is believed this struggle of Generations X and Y is a result of intergenerational inequality and the ‘broken housing market’.

Research from the Legal & General and economic consultancy Cebr has reported a 30% increase in lending, from £5 billion in 2016. Highlighting that parents will now be involved in 25% of the UK’s property transactions, funding up to £75 billion in property purchases in 2017.

Credit: Nick Fletcher

Source: The Guardian

 

 

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Tim Dean’s live interview with Sonya Feldhoff of ABC Radio Adelaide

Tim Dean's live interview with Sonya Feldhoff of ABC Radio Adelaide

Tim Dean, Credi’s CEO was live on air with ABC Radio Adelaide’s Sonya Feldhoff. Tim discussed with Sonya what Credi.com is and how it works to help both lenders and borrowers manage and formalise their loans. He went on to discuss the importance of documenting loans and his experiences that led him to the create and what now is Credi.

 

Credit: Sonya Feldhoff

Source: ABC Radio Adelaide

 

 

 

Second Steppers needing help from BOMAD

second steppers and BOMAD graphic

Findings from recent research shows that 32% of second steppers looking to make the big move to their second home seek financial support from their family and friends.

The estimated difference between a first time property purchase and a second time property purchase is £126,000.

Getting onto the property ladder is commonly seen as a difficult step to make, however, one in four second-steppers thinks moving up the property ladder is even more difficult.

Credit: Georgia Owen

Source: www.todaysconveyancer.co.uk/