[booyaka]

Zopa - Loans from people not banks

"Investors are always looking for new asset classes - especially those deemed low risk. Enter Zopa, the self-styled eBay of personal finance, which is wooing investors."

Basically a system where you can borrow money from other individuals who have put the money up for lending.

The lenders can set their own interest rates.

As someone on another forum mentioned it's like the financial equivalent of ebay!!!

Seems to be getting a lot of press from Channel 4 news BBS news and working lunch program.

Seems pretty reasonable as the risk is only £10 to an individual from what i can see. So if you put £500 up for lending of you money it will be technically lending £10 to 50 individuals, therefore spreading the risk alot more than £500 to a single individual.

Anyone used it as a lending or borrower?