trousers Posted 14 February, 2011 Share Posted 14 February, 2011 (edited) I was doing a search on one of those comparison websites for best loan rates and the lowest interest rate by far was from 'ratesetter.com'. I'd never heard of them before so did a bit of digging around and found out they are one of a growing number of peer-to-peer lending/borrowing sites, where you effectivley borrow off a pool of other individuals, rather than a bank, with ratesetter.com sitting in the middle creaming off a relatively small fee. Another company, Zopa, seems to be the biggest name in this field. Recent FT.com article: http://www.ft.com/cms/s/2/a0c4b460-2b0f-11e0-a65f-00144feab49a,dwp_uuid=6997947c-a442-11dd-8104-000077b07658.html#axzz1CyueqIr0 Ratesetter website: http://www.ratesetter.com/default.aspx Anyone got any experiences of using these companies, either as a lender or a borrower? The one downside I can see is there isn't as much protection for the lender (aka investor) as you would get by leaving your money in a bank account but there aren't any major risks leaping out at me from the borrower's persepctive. Thoughts? Edited 14 February, 2011 by trousers Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 14 February, 2011 Share Posted 14 February, 2011 Link to comment Share on other sites More sharing options...
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