J
JoeB
Guest
Hi
I just came across this site today and think it has potential for returns on investment.
http://en.wikipedia.org/wiki/Zopa
[broken link removed]
Previous thread about this company from 2006
http://www.askaboutmoney.com/showthread.php?p=261217
Individuals who want to lend money make the money available, through the website, to borrowers. The borrowers are vetted apparently, and assigned a creditworthiness score. You can choose which creditworthiness scores to lend to, and at what rates. You can set a maximum to be lent to each borrower in order to minimise your exposure to bad debts. The website assigns your money to appropraite borrowers, .. with the borrowers assigned the cheapest money first.
Clubman quoted from the T&Cs in 2006 to say it was only open to UK residents... I'm not sure if that still applies. (edit: Yes, only open to UK residents, due to money laundering laws)
Average returns of up to 7% per annum (before bad debts).
I'm surprised there's not more on this company, or this buisness model, on this site here.
What do people think? Is it worth a small flutter?
I just came across this site today and think it has potential for returns on investment.
http://en.wikipedia.org/wiki/Zopa
[broken link removed]
Previous thread about this company from 2006
http://www.askaboutmoney.com/showthread.php?p=261217
Individuals who want to lend money make the money available, through the website, to borrowers. The borrowers are vetted apparently, and assigned a creditworthiness score. You can choose which creditworthiness scores to lend to, and at what rates. You can set a maximum to be lent to each borrower in order to minimise your exposure to bad debts. The website assigns your money to appropraite borrowers, .. with the borrowers assigned the cheapest money first.
Clubman quoted from the T&Cs in 2006 to say it was only open to UK residents... I'm not sure if that still applies. (edit: Yes, only open to UK residents, due to money laundering laws)
Average returns of up to 7% per annum (before bad debts).
I'm surprised there's not more on this company, or this buisness model, on this site here.
What do people think? Is it worth a small flutter?