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Should the bank of Mum and Dad Gift or Loan?

bank of Mum and Dad gift or loan

Katherine Denham from City A.M. brings you an article to help parents decide whether they should gift or loan to their children?

Denham highlights the increasing number of young adults feeling the pinch on their wallets.

With the added burdens of student debt, high property prices and stagnant wages she sees more strain for these individuals to save. Overall, helping to make the idea of owning a home unfathomable for young people.

Denham highlights statistics from Resolution Foundation showing that millennials are the first generation to be worse off in comparison to their parents. So it shouldn’t come as a shock to see most of these individuals turning to the bank of Mum and Dad for financial support and help to get a foot on the property ladder.

Katherine Denham further goes on to discuss the differences between simply giving and lending to children, as well as joint purchasers.

Credit: Katherine Denham

Source: www.cityam.com

 

 

Credi’s #WhatTheLoan – To Help Fund a Start Up

Another week has gone by and another #WhatTheLoan has arrived. This weeks loan is to “help fund a start up.”

 

#WhatTheLoan Start Up

 

 

 

New Zealanders worry about record level of debt

New Zealanders record level of debt

The New Zealand Herald highlights statistics from the Commission for Financial Capability showing Kiwi’s worry for the record level of debt.

One in three New Zealanders believes that they deserve to have money to spend because they work hard, however, many worry about their debt.

Statistics from the 1000 plus people interviewed by the Commission for Financial Capability highlight that collectively, Kiwis were $237.79 billion in housing debt. As well as $15.39 billion in personal consumer debt as of June.

Half of the surveyed individuals disagreed with the statement “I have debt but don’t think about it that much.”

Retirement Commissioner, Diane Maxwell discusses how peoples views are being influenced by what they see around them.

Read more by clicking the link below.

Credit: Tamsyn Parker

Source: www.nzherald.co.nz/

 

 

 

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Australian Anthill feature: Powering the bank of Mum and Dad Internationally

powering the bank of mum and dad internationally

This August Credi was featured in Australian Anthill, where the online publication highlighted our capital raising efforts to raise *correction* $500 thousand, to power the bank of Mum and Dad internationally.

Anthill has mentioned Credi’s work with Wholesale Investor to raise these funds through targeting sophisticated Australian investors. The funds will help Credi introduce our platform to international markets, in particular, the United States, the United Kingdom and New Zealand.

Tim Dean, Credi’s CEO mentions “Credi’s success in Australia has surpassed all of our expectations. Since our launch in April, we now have over a thousand users putting through $28 million of loans on our platform. This success has given us the confidence to go to market and raise the capital we need to accelerate our global rollout, across the Tasman and then Europe and America.”

Anthill goes on to further mention how the platform works and what it can be used for, then summarises by highlighting Credi’s overall growth which will aid in powering the bank of mum and dad internationally.

Read the article in full by clicking the link below

Credit: Anthill Magazine

Source: anthillonline.com/

 

 

Bank of Mum and Dad equal to the 9th biggest mortgage lender in the UK

Bank of Mum and Dad equal to 9th biggest mortgage lender image

Journalist Isabelle Fraser of the Telegraph in the UK writes of the impact of the bank of mum and dad reporting it to be equivalent to the 9th biggest mortgage lender in the country.

Fraser further states parents in Britain now fund more than a quarter of purchases in the housing market, as their children and the younger geneations struggle to get on the ladder.

Statistics from Legal & General highlight that last year 26% of deposits were paid for with the help of a family member- with parents provididng deposits for an estimated 298,000 mortgages.

Click the link below to read the full article.

Credit: Isabelle Fraser

Source: telegraph.co.uk

 

 

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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

 

 

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/

 

 

Gen Ys turn to BOMAD

Almost half of Australia’s Generation Y’s are now going straight to the ‘Bank of Mum of Dad’ for regular withdrawals after they’ve turned 18.

Turning to their parents to borrow money for everyday costs has been a proven finding by Canstar in their newest  research on young adults and the use of BOMAD. Borrowing money for cars and home deposits are still popular loans, however, youths are seeking withdrawal for day-to-day expenses such as rent, groceries and petrol. With research highlighting one in five youths asking for money weekly or monthly.

Generation Y borrowing from BOMAD

 

Credit: Seven News

Source: http://thewest.com.au/