Quite unexpectedly today I happened upon a New Idea in Lending/Borrowing I am sure will be the next thing to sweep the nation (When it comes to the US that is).
Already a HUGE hit overseas, this new idea in lending and borrowing puts the money back in the hands of the people!
ZOPA is quite a remarkable idea in person to person lending/borrowing.
NON-Banking lending/borrowing transactions keeping the money where it needs to be- In the hands of the people.
75,000 members and backed by the same companies that backed Skype and eBay.
Contents at a Glance
ZOPA- All About the Concept
So WHAT IS ZOPA?
Zopa - The first lending and borrowing exchange
- The BIG Idea
- Zopa though lets people who have spare money to lend it directly to people, like them, who want to borrow it. No bank in the middle, no huge overheads, no unethical investments.
To minimise any risk, the money each lender puts in is spread amongst at least 50 borrowers (and likewise each borrower gets their money from a number of different lenders). - How it Works
- All lenders and borrowers enter into a legally binding contract with their respective borrowers and lenders. Zopa manages the collection of monthly repayments and if any of that money is not paid on time, uses exactly the same sort of recovery processes that the high street banks use.
- Who's Behind This?
- Zopa's a refreshing alternative to investing at or borrowing from a faceless institution. So it would be strange not to introduce you to the people behind Zopa.
- Why do This?
- Because we live in an age when creditworthy people frequently have unpredictable income streams.
- How we Make Our Money
- Zopa charges borrowers a fee of 0.5% of their loan amount and lenders a 0.5% annual service fee. And that's it. There are no hidden charges, no additional costs, no sneaky clauses.
- What do I get for My Money?
- We ensure your money is working for you even whilst it's waiting to be matched - 3.5% interest is earned on all money in lenders' holding accounts.
We match offers made by lenders to loan applications made by borrowers. - Why Should I Use ZOPA?
- We asked a few of the first Zopa members to give us their initial impressions and tell us why they've lent or borrowed.
- Who does ZOPA Work with?
- We are very grateful to all the companies who've worked with us over the last 9 months to make Zopa possible. They've all taken a punt on our idea and backed us 100%. Thank you.
See the list: - What do People Say?
- "No bank in the middle, no huge overheads, no unethical investments - it's a completely new way of doing things and a completely new asset class for your portfolio. Zopa could permanently change the way people save and invest their money"
More....
ZOPA Discussion Board
Exchange Ideas, thoughts and Ask questions
- Discussion Board
- ZOPA has a Discussion Board for members to find out more about this new cutting edge company.
ZOPA Lending
How to be a Lender
- Lender
- Everything you need to know about becoming a ZOPA Lender.
Lending at Zopa
How lending works
Great returns
Why it's safe
Why lend at Zopa?
Deal with human beings
The Zopa markets
New features - Borrower
- Everything you need to know about borrowing from ZOPA.
Borrowing at Zopa
How borrowing works
Great rates
Loan calculator
Who can borrow at Zopa?
Safe and simple
Who'd be lending to me?
Get Peace of Mind - Help Pages
- Because Zopa is new, you probably have a load of questions about how it works. We've tried to anticipate and answer as many as we can here. Please check through them before getting in contact with us.
This UpMarket page written by
goatlady
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