Zopa Lobbies For Peer-to-Peer Loans To Go In Pension Pots
My Google Alert for Zopa picked up this article from Yahoo, who got it from the Telegraph.
The title of this post and the Yahoo article says it all.
If pension pots end up in Zopa and the other sound peer-to-peer lenders, just what is this going to do for banks, as it will probably mean that all the decent personal loan business in their hands will go to the peer-to-peer lenders.
I wouldn’t think bank shares look to be a good long term investment.
The growth of Zopa might have an interesting side effect. Imagine a group of friends having a quiet drink in a pub and one of their number turns up in a shiny new car. On discussing the purchase, the buyer reveals they bought it with a Zopa loan, that they got at a good rate, because they have a good credit rating. So will their jealous friends, decide to do something about their dodgy finance, so they too, can have a decent set of wheels.
Peer pressure can work in mysterious ways.
If it does encourage people to clean up their finances, Zopa will have achieved something, that financial commentators and politicians have been trying to do for years!
I think too, that Zopa, which has just lent its billionth pound, is now getting too big for politicians to stop or even nationalise. Which probably means that money in Zopa is even more secure.
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The Anonymous Widower 
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