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Archive for the Loans Category
Social Lending - How it Works
04/12/2009 by bill.
Social Lending is a smarter, fairer and more human way of doing money. It’s like borrowing and lending with your friends and family - except there are thousands of people you can lend and borrow with.
Both lenders and borrowers get better rates, because Social Lending is more efficient than the traditional banking model. Banks have massive overheads, with thousands of employees to pay and hundreds of branches to maintain. So they have to take large margins on the money that passes through them.
There’s no smoke and mirrors here. Banks user your money to make even more money for themselves . They lend some of it out, gamble some of it on the price of tin or the Yen depreciating, and invest the rest in any other money-making schemes they can think of.
Whereas at Zopa, people who have spare money lend it directly to people who want to borrow. There are no banks in the middle, no huge overheads and no unethical investments.
Zopa lenders offer some of the lowest rates around, but only lend to highly credit worthy borrowers.
Posted in Social Lending, Loans, Credit and Debt | Print | No Comments »
Us Now
09/07/2009 by bill.
Us Now is a new documentary on More 4 that examines the way social media technologies are sparking the greatest social change since the invention of the printing press. The first programme is shown tomorrow Friday 10th July at 23.10 and features Zopa as one of several examples demonstrating the power of the internet to facilitate mass collaboration that can really change the way we do things and govern ourselves.
Zopa is the online marketplace where people meet to lend and borrow money. The easiest way to describe it is like eBay for money - lenders lend money, borrowers borrow money, and by cutting out the banks, everyone gets a better deal.
If you’re looking for a loan, you will get a competitive rate and Zopa do not have any sneaky fees or penalties if you want to repay early. Plus, you get that warm feeling inside, knowing that your repayments are helping real people rather than the fat cats.
Or, if you have got some spare cash and fancy making a return, why not try lending at Zopa? Zopa credit-score and risk assess every borrower, you can lend each borrower as little as 10 pounds to minimise risk and all payments are collected on your behalf.
Click here for more information about Zopa
Posted in Loans, Investments | Print | No Comments »
Borrow from Zopa Lenders
18/05/2009 by bill.
Zopa is the online marketplace where people meet to lend and borrow money. The easiest way to describe it is like eBay for money - lenders lend money, borrowers borrow money, and by cutting out the banks, everyone gets a better deal.
If you’re looking for a loan, you will get a competitive rate and Zopa do not have any sneaky fees or penalties if you want to repay early. Plus, you get that warm feeling inside, knowing that your repayments are helping real people rather than the fat cats.
Or, if you have got some spare cash and fancy making a return, why not try lending at Zopa? Zopa credit-score and risk assess every borrower, you can lend each borrower as little as 10 pounds to minimise risk and all payments are collected on your behalf.
***Click here to join***
Posted in Loans | Print | No Comments »
Set Up Your Own Bank - Be A Zopa Lender
15/05/2009 by bill.
Zopa is the online marketplace where people meet to lend and borrow money. The easiest way to describe it is like eBay for money - lenders lend money, borrowers borrow money, and by cutting out the banks, everyone gets a better deal.
If you’re looking for a loan, you will get a competitive rate and Zopa do not have any sneaky fees or penalties if you want to repay early. Plus, you get that warm feeling inside, knowing that your repayments are helping real people rather than the fat cats.
Or, if you have got some spare cash and fancy making a return, why not try lending at Zopa? Zopa credit-score and risk assess every borrower, you can lend each borrower as little as 10 pounds to minimise risk and all payments are collected on your behalf.
***Click here to join***
Click here if you are looking for a loan
Posted in Banks, Loans, Save money | Print | No Comments »
Bank of England Interest Rate Down to 0.5%
05/03/2009 by bill.
As widely expected the Bank of England today cut interest rates to 0.5%.
Savers not on fixed rate deals will see their returns fall especially if they stick with their existing bank or building society rather than looking for higher rate deals that are available.
See moneyjungle.net for advice on how to find the best savings account for you.
The banks have up to now not taken account of interest rate cuts in the rates charged for borrowing on personal loans or on credit cards. Again the advice must be to shop around for the best deals.
Posted in Loans, Credit and Debit Cards, Mortgages, Interest rates, Savings | Print | No Comments »
Instant Short Term Loans
15/12/2008 by bill.
Sometimes you may just need access to a relatively small loan over a short time period. One type of loan is the Payday loan giving you access to your salary early. Payday loans may appear attractive but the interest rates charged can be extremely high, possibly in excess of 1000%! You will generally be much better off speaking to your bank about a short term overdraft facility or even seeking out your local credit union.
Wonga is a ground-breaking online lender operating in the UK. By offering small, short-term cash advances, Wonga provides consumers with instant money whenever they need it – 24 hours a day, 365 day a year.
The Wonga product is simple - It takes only minutes to complete the online application. If accepted, you then receive up to £750 into your bank account within minutes! Wonga has a consumer credit licence from the Office of Fair Trading (OFT)
Click here for more about instant loans from Wonga.
For more information about the types of personal loan available see moneyjungle.net
Posted in Loans, Personal loans, Personal Finance | Print | 1 Comment »
Loan Insurance Cost Too High
06/06/2008 by bill.
The Competition Commission has criticised the way Payment Protection Insurance - PPI - is usually sold at the smae time as the laons it related too. The Commission has found that this results in lack of competition and high prices.
Consumer organisations have long criticised the way PPI is sold and the FSA has fined lenders for misselling PPI.
PPI is supposed to provide for loan repayments to be made in the event of accident, sickness or unemplyment but all too often borrowers find that they are not covered for their particular circumstances.
The Competition Commission suggests that the answer may be too ban the sale of PPI policies by lenders when the loan is taken out. In the meantime our advice to borrowers is not to allow themselves to be pressured into taking out a PPI policy. Always read the terms and conditions carefully and check that the cover offered is appropriate for your circumstances and the premiums are reasonable for the risk that the policy covers.
For more information about Personal Loans and PPI see moneyjungle.net.
Posted in Loans, Payment protection insurance | Print | No Comments »