Thoughts on Credi

#1

This is awesome. I’ve had thoughts about this many times and how it’ll help those with a fully offset account loan/mortgage.

Just never had a chance to implement an idea to solve it. Now these guys have. If done well, it could do a good shake up to the mortgage landscape. Thoughts?

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#2

I’ll need to read prospectus and research further, but I like it conceptually…

Bank of Mum and Dad / Family is massive.

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#3

It’s a great idea although it seems targeted to people with existing relationships. I think this idea is basically trying to bypass the credit rating assessment used to get credit. If it could be implemented at a larger scale for instance the Xinja community, and leverage sort of score (however, efficiently done using data/AI) to borrow within the community that would be good.

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#4

Testing a loan agreement for Money lent to family.

Will let you know how I find it…

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#5

Hey guys sorry for slow response!! @XinjaPat @DylanJ. We love the idea of supporting friend/ family loans - as Credi implies, money can be the most dangerous and divisive thing in a relationship. And as @DylanJ says - how do we make the ‘bank of mum and dad’ work properly so everyone benefits and everyone’s protected? We’re actually looking at this in our home loan design; boomers lending to their children is a great concept as it takes on the housing affordability issue head on, and makes use of existing equity etc. However, you need to protect the parents’ property, you need to make sure that there is formality to keep a potentially late-paying child on track, and you also might need to protect everyone from partners who make off with the capital after a split etc. Making peer to peer work makes sense, and that means these kind of structures to protect people from each other and from falling out.:ninja_emojis_pink_03:

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#6

Great points Cam.
There are numerous parties and some tricky situations!

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