DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
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Has anyone else seen this service before? Basically they link up borrowers with lenders, people can bid for loans or just borrow at a standard rate depending on their rating.
I'm thinking about investing some money into the service (as a lender) due to the interest rates offered being much higher than a savings account.
Has anyone else on here ever used this service to borrow or lend? would love to hear some feed back!
http://uk.zopa.com/ZopaWeb/
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BluKoo
Member
Registered: 8th Apr 02
Location: Stonehaven (Scotland)
User status: Offline
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I looked into this a while ago (to lend) , but decided against it in the end.
Seems like a good idea if you have faith in the system.
[Edited on 04-06-2009 by BluKoo]
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John
Member
Registered: 30th Jun 03
User status: Offline
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I know it says its very safe bla bla bla, but the rates aren't very good, why would you not just go to a bank instead unless you had problems getting one elsewhere?
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Sam
Moderator Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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Think you've answered your own question there John.
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DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
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quote: Originally posted by John
I know it says its very safe bla bla bla, but the rates aren't very good, why would you not just go to a bank instead unless you had problems getting one elsewhere?
I'm talking about lending and in that aspect banks cant touch their rates!
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BluKoo
Member
Registered: 8th Apr 02
Location: Stonehaven (Scotland)
User status: Offline
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Yeah, but think of it the other way round, those who are borrowing money obviously are struggling to get it from a bank. Why else would they turn to something like zoopa?
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DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
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Thats the killer
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pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline
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You'd be surprise how people get themselves into debt that easy
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DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
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Does anyone know what the deal with taxation is? If its taxable then it becomes a non-starter straight away.. I'll be buggered if I'm paying 40% back to HM Revenue and Cuntstorms.
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BluKoo
Member
Registered: 8th Apr 02
Location: Stonehaven (Scotland)
User status: Offline
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All returns are paid without any tax deducted, so you will have to declare your gains.
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DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
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Its Taxable though which is a shitter lol
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