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Zopa? Thoughts?

amanda_r_2
amanda_r_2 Posts: 10 Forumite
in Loans
Has anyone used Zopa? It's a peer to peer lender aiming to cut out the banks... just wondering if anyone has used them or if anyone knows of any potential pitfalls?

I'm new so I can't post a link apparently but Google Zopa and you should get the site!

Comments

  • Apples2
    Apples2 Posts: 6,442 Forumite
    Have you even considered searching this forum???

    There is somewhere in the region of a billion posts about Zopa

    Zopa really isn't a revelation on a money site.
  • PROLIANT
    PROLIANT Posts: 6,396 Forumite
    1,000 Posts Combo Breaker
    They are so bloody picky at the moment I am supprised they are still in business.
    Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.
  • amanda_r_2
    amanda_r_2 Posts: 10 Forumite
    Apples, I did search but clearly I did something wrong because I got no results. I didn't think it was a revelation, I was just asking opinions. Apologies.
  • Apples2
    Apples2 Posts: 6,442 Forumite
    amanda_r wrote: »
    Apples, I did search but clearly I did something wrong because I got no results. .

    Must have, I get 12 full pages of posts.

    http://forums.moneysavingexpert.com/search.php?searchid=83632601

    Apart from "zopa" what did you search for???
  • withabix
    withabix Posts: 9,508 Forumite
    PROLIANT wrote: »
    They are so bloody picky at the moment I am supprised they are still in business.

    Any reason why they shouldn't filter out those customers who are likely to default?

    Woul you want to lend money to people who aren't going to pay you back?

    I certainly wouldn't!!

    From my point of view, the returns are too low. Also, there should be shorter lending periods so that we can beat the interest rates of the paydayloans type companies by a mile.
    British Ex-pat in British Columbia!
This discussion has been closed.
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