I have just been checking out www.zopa.com it's a bit like Betfair in that it's a exchange, and like Betfair it offers much better rates for both borrowers and lenders than the traditional high street (and Internet) banks
I'd love to hear other peoples thoughts on it. I must admit I'm tempted put 500 into it to see how it works. Thinking of buying a car too in October, will definitely be checking it out for that.
If you can borrow for 5.4% and lend at 7%, who makes money on that? The Borrower isnt it?
Im assuming its vice versa so I wouldnt borrow as BOI do less on a fixed loan.
If you're interested in borrowing at Zopa, or if you want to lend a figure less than £25,000, you need to be an individual over the age of 18, who's resident in the UK and who has a UK current account and a personal Equifax credit rating.