Shame on you, Zopa.

ChesterDog

I have been a lender on Zopa for years, but never a borrower.

I have wound down my lending there lately because the rates just are not adequate, in my opinion.

This morning, I received an email from Zopa with the subject "Chesterdog, update on your loan application".

It was just Zopa spam, touting for business but, of course, my first thought was that I was a victim of ID theft (been there before) and someone had applied for a loan using my details.

Totally irresponsible.

Watch your inbox for it, Zopa lenders.

ChesterDog

Compounded by being sent from an email address whose prefix is 'Alerts'.

sorcerer

I gave up on lending with ZOPA a couple of years ago. By the time they take the fee, bad loands and tax, you are left with about 3-4% just wasn't worth the risk for that. I moved to Bonds paying 6-7% at the time (now unfortunately down to 4-5%), but in my eyes less risky, and held in my ISA tax free.

vulcan59

Are you sure it genuinely came from Zopa? Have you checked the email headers? Did it reference your Zopa user name? It could just be random phishing spam. I get these quite frequently, not from Zopa but appearing to be from various banks including the ones I have accounts with.

aspiration_2

sorcerer wrote: »

I gave up on lending with ZOPA a couple of years ago. By the time they take the fee, bad loands and tax, you are left with about 3-4% just wasn't worth the risk for that. I moved to Bonds paying 6-7% at the time (now unfortunately down to 4-5%), but in my eyes less risky, and held in my ISA tax free.

Sorcerer, can you please elaborate on 'bonds? Are they bought directly or are these bond funds? I will take your advice as just pointers.

ChesterDog

Vulcan59, yes.

I have since heard from Zopa that I was sent it due to some error - which is fine as far as it goes - but it is the underlying 'marketing by decieving' revelation that I object to.

Not the hallmark of a professional concern. I know it is so commonplace nowadays as to be almost ubiquitous, but it is distateful at best, possibly even illegal if tested.