Despite Credit Crunch, Peer To Peer Lending Remains Popular
After launching in 2005, Zopa has managed to recruit over 200,000 lenders and loan takers, the peer-to-peer lending website reports. The loans that Zopa has enabled between people as funded the purchase of 13 boats, more than 2000 cars and motorbikes, 1200 home improvements and 83 weddings. Their press release adds:
Since launch, Zopa lenders have enjoyed an average return of 7.3%, and over the last three months a much higher 8.9% (after charges and any bad debt). Given these rates are typically over a three year period and are effectively fixed, Zopa lenders are enjoying better returns than almost all of the best deposit account deals being offered by the banks – and with no strings attached.