If you watch the BBC 1 6 o’clock news tonight you’re likely to hear about Zopa. It’s a web-enabled way to lend and borrow money the old way. If you have some money to lend then you put it in the pot. If you want to borrow money then you lend it out of the pot. Of course you have to pay interest but the interest goes to the person lending the money rather than the bank in the middle. Zopa is going to make a little bit (0.5%) otherwise they wouldn’t be doing it but they’re not quite as robbing as the high street banks!!
I’ve put £500 into the pot to see how it goes… and if you think that you’d like to try it then please use the link below as you’ll get £30 and so will I 🙂