Loan of 3500

joewa

Hi has anyone heard of % ratesetter loans

[Deleted User]

Yes. Peer to peer lending.

joewa

What does peer to peer lending mean

Apples2

It means people like us, normal Joe Public, lend money to people in need as opposed to putting it in savings accounts.

joewa

hi, i have been offered a loan at 10.9 with them
Do you know if there are any catches with this

27col

Yeah, the big catch is that you will be expected to pay it back. If that is likely to be a problem then don't borrow it.

[Deleted User]

This is something I've been looking into.

I can't post links but add this to the end of www . bbc . co . uk:

/news/business-18370777

Might give you some more information.

ChopperST

You'll find most people on here well versed on ratesetter, zopa, funding circle et al. alot of people lend on there.

As a borrower there is no fundamental difference from a mainsteam loan. However Zopa and Ratesetter both have quite strict lending criteria and generally only lend to the credit worthy.

27col

ChopperST wrote: »

You'll find most people on here well versed on ratesetter, zopa, funding circle et al. alot of people lend on there.

As a borrower there is no fundamental difference from a mainsteam loan. However Zopa and Ratesetter both have quite strict lending criteria and generally only lend to the credit worthy.

As a Zopa lender, the stricter their criteria are, the better as far as I'm concerned. I am sure that all Zopa lenders think the same way also.