Zopa Lenders

[advfntrader]

anyone lend out money using Zopa ? you can get 8% apparently...

 

[Martinghoul]

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.

 

[advfntrader]

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 !

 

[Technically Fundamental]

20% of 500 x 0.08= 8 quid or 16 quid if you're a big earner

not the end of the world

 

[arabianights]

I lend on the listings because then I can do my own risk management, seems fine so far...

 

[rathcoole_exile]

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.