Credi news and media releases

,

Smart Investor Live Talk Credi

Credi on Smart Investor

Credi was featured on Smart Investor Live on Thursday 29 June.

Personal finance editors Sally Patten and Debra Cleveland discussed all things personal finance, but at the 23min 30 sec mark, they talk Credi. And they really loved it!

Take a look at the interview on Facebook right here

Love this content? Why not create your own Credi account and use us for your own personal lending or borrowing?

Source: Smart Investor

 

 

Bank of Mum and Dad – RateCity on Nine News

Nine News reported live in 2015 about the impact of the Bank of mum and dad at the time. Rate City representative Sally Tindall spoke of the issue of getting a foothold in the current market and the extreme difference in incomes between generations and housing affordability at the time. Overall Nine News established that more young people are relying on the bank of mum and dad to get into the property market.

Credit: Nine News

Source: Nine News and Youtube

 

 

 

NOTE: The views and opinions expressed here are mine and do not necessarily represent or reflect the views of Credi Pty Ltd.

Credi Pty Ltd (Credi) is not a bank, provider of legal advice or a financial lender.

Credi only provides a platform that allows friends, family and third parties to originate, negotiate and conclude loan agreements amongst themselves.

Credi does not provide legal advice, monitor or assess, agree, approve or decline any loan requests nor does the platform perform any funds transfer services.

Credi is not a law firm or legal practise, is not engaged in a legal practise and Credi does not act as lawyers or provide a legal service.

Nothing on this site should be considered is legal advice and you should consult a lawyer in your area to get specific legal advice and certainty of your legal rights and obligations.

The use of the Credi platform is governed by Credi’s Terms of Use.

Genervacation: why the ‘bank of mum and dad’ now offers travel

genervacation
 The Bank of Mum and Dad in Australia is now extending to vacations, introducing Genervacation! Experts within the tourism industry predicted a surge in the number of parents taking their children, who were well into their twenties, away with them on holiday. These baby boomer parents said they felt a pang of guilt because they had the cash to spend, while their adult children were overwhelmed with debt, struggling to find work, and finding it impossible to save for a deposit.

Credit: Jamie Doward

Source: https://www.theguardian.com/

 

 

NOTE: The views and opinions expressed here are mine and do not necessarily represent or reflect the views of Credi Pty Ltd.

Credi Pty Ltd (Credi) is not a bank, provider of legal advice or a financial lender.

Credi only provides a platform that allows friends, family and third parties to originate, negotiate and conclude loan agreements amongst themselves.

Credi does not provide legal advice, monitor or assess, agree, approve or decline any loan requests nor does the platform perform any funds transfer services.

Credi is not a law firm or legal practise, is not engaged in a legal practise and Credi does not act as lawyers or provide a legal service.

Nothing on this site should be considered is legal advice and you should consult a lawyer in your area to get specific legal advice and certainty of your legal rights and obligations.

The use of the Credi platform is governed by Credi’s Terms of Use.

,

Kaplan Australia and Credi : Relationship Lending

Look out for Tim Dean, Credi’s CEO, in Kaplan Australia August feature talking about ‘Relationship Lending’. He was fortunate enough to meet with Kaplan Australia and share with them our fintech, Credi.com, and fill them in on what we aim to do.

tim dean and Kaplan Australia

 

 

 

 

,

$ 950,000 Loan on Credi

WOW – A $ 950,000 loan was uploaded to Credi this week. It’s awesome how people are using credi.com every day to manage their loans.

950,000 loan on Credi

Do you want to borrow or lend with family & friends? For a limited time, you can create a FREE Credi account and formalise your loan documents

 

 

UK retirees cash out to bolster Bank of Mum and Dad

An increasing reliance on the bank of Mum and Dad is one of the reasons that retirees are releasing funds from their home. It’s a national trend that is very much evident throughout the country.

Soaring UK property prices increasing by 5.8% mean that parents, and even grandparents, are helping their family to get a foothold on the property ladder.

New research commissioned by retirement specialist Age Partnership found that whilst the most popular reason for releasing equity is to pay off any remaining mortgage – a requirement of releasing equity from your home – a generous 6% want to help out family members. Other reasons that retirees are releasing funds from their homes include; 4% of people want a brand new car and 9% simply desire a better quality of life.

Looking across the South of England, residents are releasing an average of £85,593 worth of equity from their homes, an increase of £2,500 since 2015. And further up the coast, research revealed that Northerners release an average of just £50,218 – a considerably lower sum than their southern counterparts.

The rise in the amount of equity being released is in line with the national average which has already seen growth in Q1 of 2017 up by 77%. This extra cash will go a long way in helping retirees fund the lifestyle they desire, and figures from the first quarter of 2017 indicate this trend is set to increase.

Credit: Warren Lewis

Source: http://www.propertyreporter.co.uk

 

 

 

 

,

CREDI – Powering “The Bank of Mum and Dad”

FOR IMMEDIATE RELEASE: (10 May 2017)
Tim K Dean
Credi Pty Ltd
0448 617 280
pr@credi.com

CREDI – POWERING “THE BANK OF MUM AND DAD”
Over $1.7m of loans created within the first month of launch.
Perth, Western Australia: The Bank of Mum and Dad is not just about a loan for getting on the property ladder for first-time buyers. It is the tip of a large financial iceberg.

Research carried out for Credi by RMIT shows that the informal lending market extends into billions of dollars per year in the US, UK and Australia.
The Australian public lend in excess of $1.65billion each year in unprotected, informal loans

  • ⅓ of first-time buyers get help from friends and relatives
  • In the US 2.3 million, start-ups have been funded by friends and family
  • UK and US have similar scales of relationship lending
  • Credit from family and friends is the 2nd most common form of credit in the US

Loans between related parties are built on relationships. As long as a relationship remains good, the terms of the loan are met, but should the relationship sour, the loan sours also.
After a two tier build phase, Credi launched in April 2017 as a loan management platform to enable members of the public to build, negotiate, share and manage personal loans in one platform. Credi.com delivers loan documentation, negotiated to a formalised loan agreement, repayment reminders and ongoing loan management – powering “The Bank of Mum and Dad”.
Tim Dean CEO says “We want to save relationships from the strain of financial dealings by turning informal agreements into credible, manageable and formal ones. We believe that by looking after reminders, calendering and contracting on behalf of the lender and borrower we are removing the most fraught aspects of relationship loans “, he added ” In the past people either did nothing to formalise their agreements, which is fraught with risk, or emailed and called to communicate their wishes leading to misunderstanding and confusion, or at best downloaded a loan template document that they passed between themselves – documentation that was not understood, properly completed or stored for future reference if needed. Credi does all of this and way more in one place, seamlessly. Two parties can set up, negotiate and agree on a contract in minutes.”
Since launch, Credi has documented over $2M in loans, and have $3M “pending”. Tim Dean commented, “It’s early days, but the loans we are seeing broadly mirror our research – from a $650K loan between family members to upscale a residence to loans for cars, holidays, laptops Apple watch and even to fund a start up!”

Credi is built for individuals but is releasing a partner version for finance professionals over the coming weeks, targeting accountants, book keepers, financial planners. Tim Dean commented ” We have a number of businesses lining up for our partner version. We will roll out a comprehensive loan management system, adding to the Credi platform, including secured loans, entity management and automated bank payment reconciliation, that they can promote to their customers and in due course administer for them.”
About Credi Pty Ltd: Credi is a Financial technology business, not a marketplace lender. Our mission is to change the way we lend money. We want to empower people to help each other and take control of their financial relationships without creating friction and stress.
Learn more at https://credi.com or email media@credi.com. Full media kit at https://credi.com/mediakit