zopa

[ratewhore]

Anyone here a lender on Zopa?

Wondered if anyone had experience of this they would like to share?

[moorfield]

Anyone here a lender on Zopa?

Wondered if anyone had experience of this they would like to share?

I was a few yrs ago when it started up, but most of my money is out now.

Personally for me it was better to have spare cash in the offset rather than tied up for 2-3 yrs in zopa.

Zopa were talking about doing mortgages a while ago, that would be an interesting idea in the current market.

Edit: Oh, and your interest earned is taxable too, the other reason I lost interest in it.

[ChimpMaster]

I would think it's a bad time to get into Zopa. After all, we are entering a period of difficult financial times and providing a loan/mortgage will become a far more stringent task for the traditional providers.

Zopa may get more demand due to this, but in there will be a lot of "AAA" rated borrowers who may end up being "junk" rated soon after. Much like the US and UK home loans sectors.

[ratewhore]

Interesting. I'm not looking at it right now as I am still in the cleaning up debt and filling ISA stage of investment planning. I think when the time comes there will be lots of better places to put my money.

[Dow Jones]

Begs the question...

If most of their borrowers - as they say - have a good credit rating, why can't they get a loan from a bank and if - conversely - are not, why should you lend to them?

[ASB]

They sent me a 30 quid intro a year or so ago. So I lent it out. I've not got to about 33 quid.

I think it's probably a good place to borrow.

[BrilloPad]

http://talk.zopa.com//index.php?showtopic=2301

"What happens when a borrower defaults on a repayment?, What are Zopa doing to chase my money?"

I am still looking for info on their average bad debt rate...

[MPwannadecentincome]

I would think it's a bad time to get into Zopa. After all, we are entering a period of difficult financial times and providing a loan/mortgage will become a far more stringent task for the traditional providers.

Zopa may get more demand due to this, but in there will be a lot of "AAA" rated borrowers who may end up being "junk" rated soon after. Much like the US and UK home loans sectors.

That'd be me then, just trying to consolidate debts and Zopa have given me an A* rating at an interest rate of 9.14% on the maximum £15,000 - but I can't accept it as I cannot agree the condition that out debt management is 'in hand' with the continually spending OH I have.

But moneysupermarket.com is showing bigger loans at 'typically' lower rates so I will have to check those out.