Mobile Stew

Zopa, an online service that matches personal borrowers with lenders typically resulting in lower interest rates than high-street banks, turned one year old last week. 

The service seems to be doing quite well, with over 50,000 registered users and the supply/demand equation is currently in the right place with more people wanting to borrow than there are people wanting to lend.

Things have got so bad that Zopa are paying an additional 2% to any new lenders i.e. even if a borrower is only paying 4.9%, Zopa will pay the lender an additional 2% giving a total payment of 6.9%. 

I'm toying with putting some cash in next month to see how the system works and also because one of my old colleagues is one of the founders.  In ...