Comments on: Are rising Zopa interest rates an opportunity or a time-bomb? http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/ Make more money, invest profitably, retire early Sun, 21 Mar 2010 18:56:15 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: The Investor http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/comment-page-1/#comment-3428 The Investor Mon, 26 Jan 2009 15:46:02 +0000 http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/#comment-3428 @R. Lister - not as I understand it, no. Your money is locked away for the term of the loans you agree. NOTE: You don't lend the money to Zopa, you lend it to individuals via individual contracts. Zopa is the mediator (and has some other obligations, as per details on its website). Ideally you lend it to many different people (I only lend £10 max per loan) with Zopa packaging up the microloans to make big loans for applicants. This reduces your risk. In short, if you want or need ready access to your money, Zopa is not for you. I am going to do a step-by-step guide to Zopa soon, so watch this space! :) @R. Lister – not as I understand it, no. Your money is locked away for the term of the loans you agree.

NOTE: You don’t lend the money to Zopa, you lend it to individuals via individual contracts. Zopa is the mediator (and has some other obligations, as per details on its website). Ideally you lend it to many different people (I only lend £10 max per loan) with Zopa packaging up the microloans to make big loans for applicants. This reduces your risk.

In short, if you want or need ready access to your money, Zopa is not for you.

I am going to do a step-by-step guide to Zopa soon, so watch this space! :)

]]> By: R. Lister http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/comment-page-1/#comment-3425 R. Lister Mon, 26 Jan 2009 14:45:53 +0000 http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/#comment-3425 If I lend, say £5000, to ZOPA and then, unexpectedly, need this capital sum back, can ZOPA return it all to me, less a small charge presumably, and, if so, how long will it take to get it back? If I lend, say £5000, to ZOPA and then, unexpectedly, need this capital sum back, can ZOPA return it all to me, less a small charge presumably, and, if so, how long will it take to get it back?

]]> By: Craig P http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/comment-page-1/#comment-3265 Craig P Fri, 16 Jan 2009 17:44:40 +0000 http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/#comment-3265 I think the strange thing isn't that rates are so high in zopa its that they are so low for banks, they are being forced low by government preasure. It seems to me that zopas rates are far more accurate as a way of seeing the increased risk of default on debt, so I would say it isn't a bubble. I think the strange thing isn’t that rates are so high in zopa its that they are so low for banks, they are being forced low by government preasure.

It seems to me that zopas rates are far more accurate as a way of seeing the increased risk of default on debt, so I would say it isn’t a bubble.

]]> By: Wappers http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/comment-page-1/#comment-2532 Wappers Mon, 08 Dec 2008 12:50:22 +0000 http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/#comment-2532 I suspect the increase in rates is due to Credit card companies rates skyrocketing, e.g. MBNA Virgin now charge 35% to a lot of people. I suspect the increase in rates is due to Credit card companies rates skyrocketing, e.g. MBNA Virgin now charge 35% to a lot of people.

]]> By: The Investor http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/comment-page-1/#comment-2006 The Investor Fri, 14 Nov 2008 02:00:28 +0000 http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/#comment-2006 Hi Anthony, I see, they must have changed the rules -- I've never actually got any money out of this link as it happens. :( To be honest I'm afraid I can't go splitting money with people on the Internet I don't know. It seems rather dangerous - no offence, nothing personal, obviously I don't know you from Adam. If you don't think it's fair that I should get some money, that's fair enough... to stop it happen you'll need to go to security or similar on your browser, and 'delete cookies'. Then go back to Zopa (without going via my link). That should stop me getting a payment, although it won't mean you get any extra money. Best of luck if you do take the Zopa route. I'm happy so far, but I do wonder how it'll fair in recession, if people start defaulting. Hi Anthony,

I see, they must have changed the rules — I’ve never actually got any money out of this link as it happens. :(

To be honest I’m afraid I can’t go splitting money with people on the Internet I don’t know. It seems rather dangerous – no offence, nothing personal, obviously I don’t know you from Adam.

If you don’t think it’s fair that I should get some money, that’s fair enough… to stop it happen you’ll need to go to security or similar on your browser, and ‘delete cookies’. Then go back to Zopa (without going via my link). That should stop me getting a payment, although it won’t mean you get any extra money.

Best of luck if you do take the Zopa route. I’m happy so far, but I do wonder how it’ll fair in recession, if people start defaulting.

]]> By: Anthony Mckenzie http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/comment-page-1/#comment-2000 Anthony Mckenzie Thu, 13 Nov 2008 13:38:22 +0000 http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/#comment-2000 Hi, Just followed your link to "ZOPA" considering loaning money, You suggest that we could both get £30.00, they actually will send £50.00 to the person who recommends someone and suggests that they might split it with them. would you agree to this. Regards Anthony Mckenzie Hi,
Just followed your link to “ZOPA” considering loaning money,
You suggest that we could both get £30.00,
they actually will send £50.00 to the person who recommends someone and suggests that they might split it with them.
would you agree to this.
Regards
Anthony Mckenzie

]]> By: Zopa simplifies; scraps shorter-term loans | Monevator.com http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/comment-page-1/#comment-238 Zopa simplifies; scraps shorter-term loans | Monevator.com Wed, 09 Apr 2008 14:41:36 +0000 http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/#comment-238 [...] when peer-to-peer bank Zopa was getting interesting again thanks to higher rates, it’s somewhat annoyingly announced plans to limit the kinds of loans you can make with your [...] [...] when peer-to-peer bank Zopa was getting interesting again thanks to higher rates, it’s somewhat annoyingly announced plans to limit the kinds of loans you can make with your [...]

]]> By: Zopa interest rates falling | Monevator.com http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/comment-page-1/#comment-142 Zopa interest rates falling | Monevator.com Thu, 03 Apr 2008 20:02:40 +0000 http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/#comment-142 [...] quick update to my post of last week discussing Zopa rates rising because of the credit crisis. Rates have now come down - my main lending offer to A* [...] [...] quick update to my post of last week discussing Zopa rates rising because of the credit crisis. Rates have now come down – my main lending offer to A* [...]

]]> By: jobs » Blog Archive » Time for some weekend reading http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/comment-page-1/#comment-117 jobs » Blog Archive » Time for some weekend reading Sat, 29 Mar 2008 22:02:39 +0000 http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/#comment-117 [...] Moore pointed us towards Monevator and a recent post about Zopa and we thought it contained some food (pun intended, following biscuit reference [...] [...] Moore pointed us towards Monevator and a recent post about Zopa and we thought it contained some food (pun intended, following biscuit reference [...]

]]> By: The Investor http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/comment-page-1/#comment-116 The Investor Sat, 29 Mar 2008 10:44:30 +0000 http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/#comment-116 Thanks for your kind words David, and perhaps tell us how you get on with Zopa? Personally I'd certainly not move vast sums into Zopa at once... maybe several £500 batches until I reached my comfortable exposure. That way I'd benefit from having exposure to different tranches of borrowing conditions / borrowers. In the blog article track backed above, the writer mentions Zopa's default rates aren't being seen as rising at all, which is good news if it turns out right. Pays your money and takes your choice though, and as ever on the site this shouldn't be taken as advice. Good luck! Thanks for your kind words David, and perhaps tell us how you get on with Zopa?

Personally I’d certainly not move vast sums into Zopa at once… maybe several £500 batches until I reached my comfortable exposure. That way I’d benefit from having exposure to different tranches of borrowing conditions / borrowers.

In the blog article track backed above, the writer mentions Zopa’s default rates aren’t being seen as rising at all, which is good news if it turns out right.

Pays your money and takes your choice though, and as ever on the site this shouldn’t be taken as advice.

Good luck!

]]> By: DavidD http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/comment-page-1/#comment-115 DavidD Fri, 28 Mar 2008 22:12:45 +0000 http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/#comment-115 I thought I would give Zopa a try, I have been meaning to for some time. I have used your link. Great site by the way. Keep up the great posts. David I thought I would give Zopa a try, I have been meaning to for some time. I have used your link.

Great site by the way.

Keep up the great posts.

David

]]> By: Zopa blog - Time for some weekend reading http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/comment-page-1/#comment-114 Zopa blog - Time for some weekend reading Fri, 28 Mar 2008 21:26:23 +0000 http://monevator.com/2008/03/27/are-rising-zopa-interest-rates-an-opportunity-or-a-time-bomb/#comment-114 [...] Moore pointed us towards Monevator and a recent post about Zopa and we thought it contained some food (pun intended, following biscuit reference [...] [...] Moore pointed us towards Monevator and a recent post about Zopa and we thought it contained some food (pun intended, following biscuit reference [...]

]]>