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P2P investing

  • 06-01-2013 2:32am
    #1
    Mickey Dazzler
    Closed Accounts Posts: 586 ✭✭✭


    Anybody have any experience in peer to peer loans?

    Thinking of having a punt.

    http://uk.zopa.com


Comments

  • #2
    Cute Hoor
    Registered Users, Registered Users 2 Posts: 1,788 ✭✭✭Cute Hoor


    Looks like an excellent concept, and it seems to have been around for a while. Only available to UK residents though.


  • #3
    doopa
    Registered Users, Registered Users 2 Posts: 435 ✭✭doopa


    Mickey Dazzler wrote: »
    Anybody have any experience in peer to peer loans?

    Thinking of having a punt.

    http://uk.zopa.com

    Used this when living in the UK. Much better than a normal savings account and a bit more fun. Rates where substantially higher than traditional savings accounts, lowest rate was about 6% for safe lenders and went up as high as 14% on young first time borrowers with the caveat that bad debt rate was a bit higher in those markets. If you stuck to A,B markets the interest rate was a pretty stable 6-8%. They used to only allow you to loan out the money for the term of the loan however, there is now a facility to resell your loans and get your capital and interest back which makes it a lot more like a normal savings account. Limit of something like 25K sterling.


  • #4
    soirish
    Registered Users, Registered Users 2 Posts: 713 ✭✭✭soirish


    P2P lending is gaining speed. The three biggest players in the UK are Zopa, Ratesetter and Funding Circle. Full review on MSE website. Anyone tried those?


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