Social Lending

dodgypins

My husband is thinking of using Zapu ( think that is the name) to invest some of out precious pension pot.. any thoughts?

agsnu

The name is Zopa, and there are several threads about it recently. See http://forums.moneysavingexpert.com/showthread.html?t=1165399

Myrmidon_J

dodgypins wrote: »

My husband is thinking of using Zapu ( think that is the name) to invest some of out precious pension pot.. any thoughts?

It is Zopa, as 'agsnu' points out. I'm not certain that you'll be able to invest pension funds; however, I'd be interested to find out!

I'd also point out that (in my view) it hardly counts as social lending, though I know that's how they'd like it described.

Zopa earns money by charging borrowers a £94.25 transaction fee and lenders a 1% annual servicing fee.

So: yes, you "sidestep the banks". But Zopa isn't a charity; it exists to make money. (Nothing wrong with that, of course! )

CoogarUK

Myrmidon_J wrote: »

So: yes, you "sidestep the banks". But Zopa isn't a charity; it exists to make money. (Nothing wrong with that, of course! )

Indeed. One thing you're guaranteed of at Zopa is plenty of positive spin.

gozomark

are you prepared to lose some of your capital ?