markr
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Post by markr on Mar 26, 2014 10:11:05 GMT
Has anyone been tempted by Zopa's cashback offer? 1% if you lend a new £2000 before Friday. Ironically, I only noticed it when I logged in to see if there was enough in my holding account to make it worth doing a withdrawal.
[Edit] Oops, deposited by Friday, lent by 30th April.
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Post by cautious on Mar 26, 2014 11:05:30 GMT
Has anyone been tempted by Zopa's cashback offer? 1% if you lend a new £2000 before Friday. Ironically, I only noticed it when I logged in to see if there was enough in my holding account to make it worth doing a withdrawal. [Edit] Oops, deposited by Friday, lent by 30th April. I might qualify as I am currently re-investing / moving money about from a matured bond and thus putting funds into Zopa. After putting 10k into Ratesetter (which is my comfort limit at the moment), Zopa is my next port of call and the cashback is fortuitous timing but purely coincidental.
Was it on Wellesley's website that I read a press comment that some P2P lenders were in a race to be the largest provider before stock market flotation...apologies to W&C if I've got the wrong site.
Zopa mentioned 500m lend target in their marketing and I think that they are already the largest P2P lender.....hmmmm; should I be getting even more cautious?
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mikes1531
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Post by mikes1531 on Mar 26, 2014 16:32:30 GMT
Has anyone been tempted by Zopa's cashback offer? 1% if you lend a new £2000 before Friday. [Edit] Oops, deposited by Friday, lent by 30th April. I haven't. It's not a bad deal if you can get all you deposit lent before their current Rate Promise ends on 3/Apr. After that, however, lending returns are uncertain. At the moment, average rates for lending in the Longer (4-5 year) market seem to be about a percent below the RP level. If that rate continues, and the Rate Promise isn't extended, then lenders would be earning about 4% after fees on Longer loans. That's a fair amount below the rates currently on offer by Zopa's competitors.
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spockie
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Post by spockie on Apr 1, 2014 20:38:53 GMT
It takes too long to lend anything on Zopa these days too, so not tempted at all.
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mikeb
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Post by mikeb on Apr 3, 2014 7:59:01 GMT
Rate promise continues into May. Shame that the lend page is claiming 4.1% in three years, but the small print of the the Rate Promise now actually only offers 4.0% ...
Guys, the FCA is now watching, you can't be doing that sort of stuff ...
Edit: Ah, fixed now, good ...
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