Joey Buttafueco Jr Posted August 1, 2009 Share Posted August 1, 2009 Someone started a thread a few weeks ago regarding Zopa and how lending rates were creeping upwards 1). Anyone remember - I can't find it non search? 2). Why is noone taking my £10 on the A*36 market at 10%? Is this still too high? Quote Link to comment Share on other sites More sharing options...
Mikhail Liebenstein Posted August 1, 2009 Share Posted August 1, 2009 Someone started a thread a few weeks ago regarding Zopa and how lending rates were creeping upwards1). Anyone remember - I can't find it non search? 2). Why is noone taking my £10 on the A*36 market at 10%? Is this still too high? Last range working for me was 7-9%. It will take longer to lend out at 10%. You should use the rate checker, comparing your offering to the rest of the market. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted August 1, 2009 Share Posted August 1, 2009 Someone started a thread a few weeks ago regarding Zopa and how lending rates were creeping upwards1). Anyone remember - I can't find it non search? 2). Why is noone taking my £10 on the A*36 market at 10%? Is this still too high? Cos you are a greedy capitalist! Didn't know you could lend so little with Zopa. Might give it a try. I notice when you lend over £500, "your money is spread over at least 50 borrowers." Quote Link to comment Share on other sites More sharing options...
_w_ Posted August 1, 2009 Share Posted August 1, 2009 I had a look and it looks like a waste of time. Most / all would be borrowers are already over borrowed (e.g. don't know how to save) and asking for unsecured loans at a max rate of 10%? I thought there might be businesses in there but can't find anything serious? How are you expected to take such risks without an army of in house solicitors at hand? And how can you hope to see all of your money back , let alone make a profit? Please correct me if I'm wrong, the ideal / concept, is nice, but practically it looks like a guaranteed loss for an investor? Has anyone got some experience of this? Quote Link to comment Share on other sites More sharing options...
Joey Buttafueco Jr Posted August 1, 2009 Author Share Posted August 1, 2009 Is this the one?http://www.housepricecrash.co.uk/forum/ind...howtopic=113369 In investment section of site. I don't think so - the chap was saying the rates had gapped out over the last couple of weeks (but thanks for looking) Quote Link to comment Share on other sites More sharing options...
johnny5thumbs Posted August 1, 2009 Share Posted August 1, 2009 Please correct me if I'm wrong, the ideal / concept, is nice, but practically it looks like a guaranteed loss for an investor? Has anyone got some experience of this? Why? If the bad debt levels are below 1% on average ? Quote Link to comment Share on other sites More sharing options...
Joey Buttafueco Jr Posted August 2, 2009 Author Share Posted August 2, 2009 Last range working for me was 7-9%.It will take longer to lend out at 10%. You should use the rate checker, comparing your offering to the rest of the market. I am happy to drip feed in at 10% - as long as I get a taker every now and then Quote Link to comment Share on other sites More sharing options...
dr ray Posted October 25, 2009 Share Posted October 25, 2009 (edited) Thought it might be worth bumping the ZOPA thread Putting some savings in PMs and lending out through ZOPA seems a way of telling the financial sector to spin on it and has the advantage that the banks and the government can't use our deposits to support house prices by offering mortgages. There aren't many ways to tell the banks to keep their poxy savings rates. I have started putting some money into ZOPAand anticipating a return of 6.5% gross after estimated bad debts. Done it in the wifes name so that only basic rate tax will be payable. Any thoughts on this. Is ZOPAs estimate of bad debts credible? What happens if ZOPA goes bust. Is the money in a nominee account or is it part of ZOPAs assets? Is their any way to recover money before the 36 or 60 month periods if personal circumstances change? Edited October 25, 2009 by dr ray Quote Link to comment Share on other sites More sharing options...
j1979 Posted February 15, 2010 Share Posted February 15, 2010 has anyone used Zopa.com? have you had good or bad experiences? http://uk.zopa.com/ZopaWeb/ i see on their site you can now choose the exact person you lend to.. like ebay for money lenders Quote Link to comment Share on other sites More sharing options...
Northwest Smith Posted February 15, 2010 Share Posted February 15, 2010 You could borrow @ 10% and then lend it out on Zopa for 15% without needing any capital. Quote Link to comment Share on other sites More sharing options...
M21er Posted February 15, 2010 Share Posted February 15, 2010 has anyone used Zopa.com? have you had good or bad experiences? http://uk.zopa.com/ZopaWeb/ i see on their site you can now choose the exact person you lend to.. like ebay for money lenders Hi Second Zopa thread of the day! Lending on the Zopa listings is fraught with Bad Debt so be careful.... Personally I am sticking with the low risk A and A* Zopa markets - Even in those markets I currently have one late payment out of around 100 borrowers. If you PM me, I'm happy to send you some Zopa Excel analysis. Regards M21er Quote Link to comment Share on other sites More sharing options...
M21er Posted February 15, 2010 Share Posted February 15, 2010 You could borrow @ 10% and then lend it out on Zopa for 15% without needing any capital. Hi If only it was that simple... As at last week ( w/e 8 February ) the highest rate available was 13.5% pa in the high risk C60 ( 5 years ) Market. At that rate you'd lend very little of your funds as you'd only match borrowers wanting a £15k loan. The C market was offering between 11.1% and 13.5% The C Market is very high risk so I'd expect to see large amounts of bad debt - certainly more than your premium M21er Quote Link to comment Share on other sites More sharing options...
singlemalt Posted February 15, 2010 Share Posted February 15, 2010 Been using it for nearly 2yrs now as a lender. In that time I've only had one borrower default (I lost £9) so my profits far outweigh losses. Major downside I find is that there's no quick way of getting your hands on the cash you've lent out so in the 'Markets' you're potentially tied in for quite a while. Quote Link to comment Share on other sites More sharing options...
john_coller Posted February 15, 2010 Share Posted February 15, 2010 I've been using it for a year, lending to 63 different people and no bad debts so far. It works best if you have a bit of patients. The rates are constantly changing, so sometimes on a Friday night or when there's a banking problem the rates can leap up and you can get a decent return for the risk. My money is lent out at rates ranging from 6.90% to 16.50% to various risk categories. The system for lending money out is very easy to use and presents all information very clearly. Two bad points are that any money lent out is tied up for a long period and the return is fixed. Quote Link to comment Share on other sites More sharing options...
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