Anybody invested in Zopa?
Discussion
Hi folks
Just wondering if anybody has invested in Zopa and, if so, how much of your portfolio you put in and how it's performed. I've got some investments in BTL and in shares but (a) BTL returns are 4% net with occasional hassle and (b) I think Shares are going to fall when interest rates go up so I don't really want any more exposure.
As usual, thanks in advance
Just wondering if anybody has invested in Zopa and, if so, how much of your portfolio you put in and how it's performed. I've got some investments in BTL and in shares but (a) BTL returns are 4% net with occasional hassle and (b) I think Shares are going to fall when interest rates go up so I don't really want any more exposure.
As usual, thanks in advance
I've had money in there since 2013 and a couple of friends have been using it since 2014, it's very simple these days compared to when I started, you just put your money in, pick a rate for 3 or 5 years and that's it.
As mentioned above your money is split into chunks (you used to be able to pick this value but it's now automatic and seems to be £20 per loan). In this time I've not had a single default. I'd recommend it, my overall gross return has been 5.6%.
If you're thinking of investing and don't have anyone to refer you let me know - we both get £50 if you use a referral
As mentioned above your money is split into chunks (you used to be able to pick this value but it's now automatic and seems to be £20 per loan). In this time I've not had a single default. I'd recommend it, my overall gross return has been 5.6%.
If you're thinking of investing and don't have anyone to refer you let me know - we both get £50 if you use a referral
budgie smuggler said:
I think next year you can invest in Zopa and similar p2p lending schemes via an ISA saving the tax as well.
Any linkys? That would be really helpful. I've got a First Direct S&S ISA which I've been paying into so, if this could be incorporated into that, it would make things easier. Would rather not have to set up a separate one.I invested money with wellesley with no problems. They do an ISA compatible bond : https://www.wellesley.co.uk/isa/
Countdown said:
budgie smuggler said:
I think next year you can invest in Zopa and similar p2p lending schemes via an ISA saving the tax as well.
Any linkys? That would be really helpful. I've got a First Direct S&S ISA which I've been paying into so, if this could be incorporated into that, it would make things easier. Would rather not have to set up a separate one.then ctrl-F for "April 2016"
budgie smuggler said:
Excellent - much appreciated 
That links got me looking at "Ratesetter" now
It seems to be offering 3% with monthly access? Am i misreading something? To clarify - Zopa are offering 3.8% for 3 year fixed term - whereas RS seem to be offering nearly as much but with much quicker access.Some info here: http://www.zopa.com/blog/2015/07/09/everything-we-...
I was an early adopter of Zopa, but only with small amounts to experiment.
I preferred the older version which gave a lot of control over the rates and even who you lend to. I probably had £1k in there at most, split across somewhere between 50-100 borrowers and was luck enough to have no missed payments with most repaying early.
Currently it seems to take a while for money you put in to be loaned out - I lost patience.
I was an early adopter of Zopa, but only with small amounts to experiment.
I preferred the older version which gave a lot of control over the rates and even who you lend to. I probably had £1k in there at most, split across somewhere between 50-100 borrowers and was luck enough to have no missed payments with most repaying early.
Currently it seems to take a while for money you put in to be loaned out - I lost patience.
Countdown said:
budgie smuggler said:
Excellent - much appreciated That links got me looking at "Ratesetter" now
It seems to be offering 3% with monthly access? Am i misreading something? To clarify - Zopa are offering 3.8% for 3 year fixed term - whereas RS seem to be offering nearly as much but with much quicker access.Phateuk said:
If you're thinking of investing and don't have anyone to refer you let me know - we both get £50 if you use a referral
Would you mind posting the T&Cs for the £50 referral? If it's half reasonable I might be tempted. From a quick google I can't find much about it. Some talk about £2k investing and £25 each so hopefully it's been made more generous since then!Edited to add: found it...
http://www.telegraph.co.uk/finance/personalfinance...
Is there a minimum investment period? Sticking £2,000 in for a year and getting £2,150 back sounds good (obviously risk involved as discussed above).
Currently setting my brother up with a fundingcircle account so that I can get the referral money out of them.
Edited by mackay45 on Wednesday 5th August 14:24
mackay45 said:
Phateuk said:
If you're thinking of investing and don't have anyone to refer you let me know - we both get £50 if you use a referral
Would you mind posting the T&Cs for the £50 referral? If it's half reasonable I might be tempted. From a quick google I can't find much about it. Some talk about £2k investing and £25 each so hopefully it's been made more generous since then!Edited to add: found it...
http://www.telegraph.co.uk/finance/personalfinance...
Is there a minimum investment period? Sticking £2,000 in for a year and getting £2,150 back sounds good (obviously risk involved as discussed above).
Currently setting my brother up with a fundingcircle account so that I can get the referral money out of them.
Edited by mackay45 on Wednesday 5th August 14:24
Phateuk said:
mackay45 said:
Phateuk said:
If you're thinking of investing and don't have anyone to refer you let me know - we both get £50 if you use a referral
Would you mind posting the T&Cs for the £50 referral? If it's half reasonable I might be tempted. From a quick google I can't find much about it. Some talk about £2k investing and £25 each so hopefully it's been made more generous since then!Edited to add: found it...
http://www.telegraph.co.uk/finance/personalfinance...
Is there a minimum investment period? Sticking £2,000 in for a year and getting £2,150 back sounds good (obviously risk involved as discussed above).
Currently setting my brother up with a fundingcircle account so that I can get the referral money out of them.
Edited by mackay45 on Wednesday 5th August 14:24
zopa-website said:
Terms & Conditions
The reward(s) offer below (“Offer”) applies to all Zopa Members who register as a result of a 'Tell a Friend' referral made in accordance with these Terms and Conditions during the period commencing at midnight on 02.10.2014 and ending at midnight on 30.09.2015 ("the Offer Period").
Capitalised terms in these Terms and Conditions that are not otherwise defined where they appear shall have the meaning given to them in the Zopa principles.
Eligibility
Only registered Zopa Members are eligible to participate in the 'Tell a Friend' Offer.
Only persons who meet the eligibility and registration requirements under Principle 2 of the Zopa Principles are able to become Zopa Members as a result of a referral under this Offer.
To qualify for the Offer, the existing Zopa Member (“Referrer”) must refer an eligible friend (“Referee”) to Zopa using the dedicated referral link issued to the Referrer by Zopa for that purpose (“Referral Link”).
For the avoidance of doubt and without prejudice to any rights or remedies otherwise available to Zopa under Applicable Law, Zopa Members are not permitted to impersonate Zopa, use the Zopa domain names or trademarks (apart from banners and links we provide within the Tell a Friend section) or to post adverts or sponsored links on search engines which appear when users search for the Zopa brand or trademarks (commonly known as ‘brand term bidding’), and any referrals arising out of or in connection with any misuse or infringement of the Zopa domain names or trademarks shall not qualify for this 'Tell a Friend' Offer.
Members must adhere to guidelines set out in the ‘Tell a Friend’ scheme. Members who create harmful inbound links to Zopa as defined by the guidelines shall not qualify for this Offer. Zopa will request changes from Members who are seen to be producing harmful content, and reserves the right to commence infringement proceedings and/or report such activities to search engines to protect Zopa from penalties.
As part of this Offer, you warrant and undertake that you have the consent of your friend(s) to disclose their personal details to Zopa, such as personal email addresses for email functionality.
Reward
Each existing Zopa Member (“Referrer”) will receive £50 for each friend who lends at least £2,000 or borrows any amount of money at Zopa during the Offer Period.
Each eligible friend referred by an existing Zopa member (“Referee”) will receive £50.
In each eligible case, the for the £50 Referrer and Referee will be credited either to an existing Zopa loan, or to the applicable Zopa Member's Account (and recorded in your My Zopa) within 40 days after the conditions have been met.
General
The Referrer must have completed the Zopa registration process and have lent out money through Zopa, or been approved a Zopa loan in order to receive the £50 reward.
In cases where the Referrer or Referee is a Borrower and has paid off their loan completely or Zopa is unable to credit the loan, Zopa will credit the reward into a lending account under the same member name and log-in credentials, accessible through MyZopa. The Referrer or Referee may either offer to lend the reward funds via Zopa, or withdraw it at no cost.
The Referee must sign up as a Zopa member via the existing member's referral link supplied by Zopa. If the same person is introduced by more than one Zopa member or source, the reward will be based on the recommendation which first results in lender registration, or last results in loan application and subsequent approval.
You cannot introduce yourself or an existing Zopa member.
In the case that a loan application from a Referee is declined, Zopa will not share this information with the Referrer, in order to protect the applicant’s privacy.
Any person who was referred to Zopa and then registered on or before 30.09.2014 through any previous ‘Tell a Friend’ or referral offer will be rewarded based on the terms for that previous offer.
Zopa reserves the right to amend, withdraw or extend any or all elements of this promotion at any time, without prior notice. These Terms and Conditions shall be governed by and construed in accordance with English law.
With peer-to-peer lending your capital is at risk, our risk statement has the details.
Promoter: Zopa Limited. Registered office: 6th Floor, 90 Fetter Lane, London EC4A 1EN. Company Registration No. 05197592. Zopa Limited is authorised and regulated by the Financial Conduct Authority, and entered on the Financial Services Register under firm registration number 563134.
The reward(s) offer below (“Offer”) applies to all Zopa Members who register as a result of a 'Tell a Friend' referral made in accordance with these Terms and Conditions during the period commencing at midnight on 02.10.2014 and ending at midnight on 30.09.2015 ("the Offer Period").
Capitalised terms in these Terms and Conditions that are not otherwise defined where they appear shall have the meaning given to them in the Zopa principles.
Eligibility
Only registered Zopa Members are eligible to participate in the 'Tell a Friend' Offer.
Only persons who meet the eligibility and registration requirements under Principle 2 of the Zopa Principles are able to become Zopa Members as a result of a referral under this Offer.
To qualify for the Offer, the existing Zopa Member (“Referrer”) must refer an eligible friend (“Referee”) to Zopa using the dedicated referral link issued to the Referrer by Zopa for that purpose (“Referral Link”).
For the avoidance of doubt and without prejudice to any rights or remedies otherwise available to Zopa under Applicable Law, Zopa Members are not permitted to impersonate Zopa, use the Zopa domain names or trademarks (apart from banners and links we provide within the Tell a Friend section) or to post adverts or sponsored links on search engines which appear when users search for the Zopa brand or trademarks (commonly known as ‘brand term bidding’), and any referrals arising out of or in connection with any misuse or infringement of the Zopa domain names or trademarks shall not qualify for this 'Tell a Friend' Offer.
Members must adhere to guidelines set out in the ‘Tell a Friend’ scheme. Members who create harmful inbound links to Zopa as defined by the guidelines shall not qualify for this Offer. Zopa will request changes from Members who are seen to be producing harmful content, and reserves the right to commence infringement proceedings and/or report such activities to search engines to protect Zopa from penalties.
As part of this Offer, you warrant and undertake that you have the consent of your friend(s) to disclose their personal details to Zopa, such as personal email addresses for email functionality.
Reward
Each existing Zopa Member (“Referrer”) will receive £50 for each friend who lends at least £2,000 or borrows any amount of money at Zopa during the Offer Period.
Each eligible friend referred by an existing Zopa member (“Referee”) will receive £50.
In each eligible case, the for the £50 Referrer and Referee will be credited either to an existing Zopa loan, or to the applicable Zopa Member's Account (and recorded in your My Zopa) within 40 days after the conditions have been met.
General
The Referrer must have completed the Zopa registration process and have lent out money through Zopa, or been approved a Zopa loan in order to receive the £50 reward.
In cases where the Referrer or Referee is a Borrower and has paid off their loan completely or Zopa is unable to credit the loan, Zopa will credit the reward into a lending account under the same member name and log-in credentials, accessible through MyZopa. The Referrer or Referee may either offer to lend the reward funds via Zopa, or withdraw it at no cost.
The Referee must sign up as a Zopa member via the existing member's referral link supplied by Zopa. If the same person is introduced by more than one Zopa member or source, the reward will be based on the recommendation which first results in lender registration, or last results in loan application and subsequent approval.
You cannot introduce yourself or an existing Zopa member.
In the case that a loan application from a Referee is declined, Zopa will not share this information with the Referrer, in order to protect the applicant’s privacy.
Any person who was referred to Zopa and then registered on or before 30.09.2014 through any previous ‘Tell a Friend’ or referral offer will be rewarded based on the terms for that previous offer.
Zopa reserves the right to amend, withdraw or extend any or all elements of this promotion at any time, without prior notice. These Terms and Conditions shall be governed by and construed in accordance with English law.
With peer-to-peer lending your capital is at risk, our risk statement has the details.
Promoter: Zopa Limited. Registered office: 6th Floor, 90 Fetter Lane, London EC4A 1EN. Company Registration No. 05197592. Zopa Limited is authorised and regulated by the Financial Conduct Authority, and entered on the Financial Services Register under firm registration number 563134.
Hi. Just discovered Zopa, knew there were services like this out there, but didn't and still don't know the full details and ease of use. Don't mean to take over the thread but hopefully any information gleaned is useful to many.
Is there a 'prime' amount to lend, for say 3 years? Could I lend five lots of £2k, and it work out better than two lots of £5k or is it a level playing field regardless, providing the term is the same?
Most ISAs are giving 1-2% interest, and I can't be bothered switching and opening new accounts with various standing orders to earn another £50; prefer to leave something where I don't have any input and can come back in X years and see a reasonable return.
I'd be 'investing' some savings, but hopefully not anything I'd specifically rely on in the future, I am usually risk averse but providing I didn't lose more than my initial outlay over three years I'd not be too bothered.. It's unlikely I'd ever need instant access to the funds, so waiting 30 days or so would hopefully not be an issue.
Is there a 'prime' amount to lend, for say 3 years? Could I lend five lots of £2k, and it work out better than two lots of £5k or is it a level playing field regardless, providing the term is the same?
Most ISAs are giving 1-2% interest, and I can't be bothered switching and opening new accounts with various standing orders to earn another £50; prefer to leave something where I don't have any input and can come back in X years and see a reasonable return.
I'd be 'investing' some savings, but hopefully not anything I'd specifically rely on in the future, I am usually risk averse but providing I didn't lose more than my initial outlay over three years I'd not be too bothered.. It's unlikely I'd ever need instant access to the funds, so waiting 30 days or so would hopefully not be an issue.
Gompo said:
Hi. Just discovered Zopa, knew there were services like this out there, but didn't and still don't know the full details and ease of use. Don't mean to take over the thread but hopefully any information gleaned is useful to many.
Is there a 'prime' amount to lend, for say 3 years? Could I lend five lots of £2k, and it work out better than two lots of £5k or is it a level playing field regardless, providing the term is the same?
Most ISAs are giving 1-2% interest, and I can't be bothered switching and opening new accounts with various standing orders to earn another £50; prefer to leave something where I don't have any input and can come back in X years and see a reasonable return.
I'd be 'investing' some savings, but hopefully not anything I'd specifically rely on in the future, I am usually risk averse but providing I didn't lose more than my initial outlay over three years I'd not be too bothered.. It's unlikely I'd ever need instant access to the funds, so waiting 30 days or so would hopefully not be an issue.
It's irrelevant - your money doesn't go to a single recipient, it will be divided into small chunks (usually £20) between many borrowers. The money in your account just gets put into a queue to lend, so depositing 5x £2k or 1x£10k won't make any difference in terms of rates/speed of lending.Is there a 'prime' amount to lend, for say 3 years? Could I lend five lots of £2k, and it work out better than two lots of £5k or is it a level playing field regardless, providing the term is the same?
Most ISAs are giving 1-2% interest, and I can't be bothered switching and opening new accounts with various standing orders to earn another £50; prefer to leave something where I don't have any input and can come back in X years and see a reasonable return.
I'd be 'investing' some savings, but hopefully not anything I'd specifically rely on in the future, I am usually risk averse but providing I didn't lose more than my initial outlay over three years I'd not be too bothered.. It's unlikely I'd ever need instant access to the funds, so waiting 30 days or so would hopefully not be an issue.
For anyone interested in the £50 referral I've put the referral link in my profile - feel free to PM for any additional information.
mackay45 said:
Currently setting my brother up with a fundingcircle account so that I can get the referral money out of them.
Bad idea, fundingcircle is the best way to waste/lose money, there is no protection unlike zopa and ratesetter.Various reasons including the fact its not personal loans, its company loans and people seem to like prepacks and winding up companies for fun. Avoid at all costs IMO.
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