Zopa Lenders

I think it's a brilliant idea, but I haven't yet done it... I have a colleague who has lent 500 quid so far at avg yield of arnd 6% with no defaults on any of it so far. I might add that the only bad thing is its name.
 
the tax issue bothers me. apparently you get your interest gross, you need to declare it as investment income and its taxed, not like normal savings though, income tax !
 
I lend on the listings because then I can do my own risk management, seems fine so far...
 
had never heard of it before !
what a wonderful idea .... nice to see the spirit of free enterprise still alive and kicking despite the best efforts of Brown & Co.
 
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