Zopa - good loan company?

Apples2

Ianh82 wrote: »

i must sound thick but i never realised its a p2p loan site. may be interesting to be a loaner in the future, do you earn good returns? better than banks

You choose your own market to lend in, the lowest risks attract the lowest rates so your return is lower, ZOPA take a percent too.

You can chance your arm lending to higher risk applicants for greater returns but you stand more chance of the runners stealing your cash.

You only normally lend £10 per person though so you don't lose too much but your loan book is massive.
Typically you see the location, age range, screen name, amount borrowed and purpose of the loan for each of your loans. This is where the borrowers give thanks to the lenders.

Any costs associated with chasing through Debt Collectors, bailiffs etc come out of the loan pot so you might not get all £10 back from the scally.

The returns aren't huge but mostly much better than any pitiful offering of an Instant access savings account, even ISA's but you have a significant risk as your money isn't protected.