P2P/Social Lending

[GTIR]

I did search but, well, it's a bit st isn't it.

Anyone had any experience with these sites?
Zopa is the oldest it seems.

Cheap loans, what's not to like?

And you can lend money.

[seaninog]

These guys and their peers (Ratesetter, Yes Secure) and Funding Circle for commercial loans will have a huge share of future lending markets in my opinion. I have friends with money in Zopa and all feedback is positive. As for borrowing rates, certainly for amounts under £5,000 Ratesetter are probably the most competitive in the market.

Asa concept it gets a big thumbs up from me.

[GTIR]

I am with Zopa now!

As a lender.

The way I see it is that even with a their 1% fee, bad debt risk (max .08%, I go for the top four borrowers), and UK tax I will earn more money than some crappy tax free ISA!

Plus I get to play with money and watch the poor people borrow!