Zopa.com
I recently joined Zopa.com as a "lender".....
Its an interesting concept.
e.g. I recently lent £10 to someone, who borrowed nearly £8,000. They have agreed to repay it over 60 months. I offered it at a interest less than they were prepared to pay, and it was accepted along with over 150 other offers.
The low amount per loan I currently offer is due to:
1. The length of time before I get repaid
2. To spread my risk.
The costs are very low (1% of the interest paid).
Is anyone else a member - either as a lender or a borrower?
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