As I can't post in the news section I will pop this link to an Article in the Telegraph here.
Click here
11
Zopa in the news.
Started by Deddington, Aug 20 2006 10:34
1715 replies to this topic
#1
Deddington
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Posted 20 August 2006 - 10:34
Life is too short to drink cheap red wine.
#2
elljay
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Posted 20 August 2006 - 12:50
Interesting. Had me wondering what a "reeformer" was though... 
Typos... 
Typos...
The key is diversity. | Gooja map from this thread here. | Graphs of Zopa's MI data on my site, here. FC here. RS here. | ZopaHolics Anonymous logo here: 
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#3
cheapermoney
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Posted 20 August 2006 - 17:57
i was surprised at the coments in the sunday paper regarding the notting hill trust,about zopa lending themmoney first i have heard about this
#4
m1chaels
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Posted 20 August 2006 - 21:30
Hmm - good of them to ask us for an opinion first...still we will probably get a response from zopa tomorrow - but not till a bit later than 9...
#5
opazit
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Posted 20 August 2006 - 21:35
So now we know what the NHHT was that accidently slipped into the live system a few weeks back. Nice of z to tell it's users via the Sunday press - saved us all from logging on!!!
opazit
opazit
For every action, there is an equal and opazit reaction. Newton, No3-ish
#6
RichardI
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Posted 21 August 2006 - 15:52
Oops - sorry, we probably should have shared that with you all, but we are still in pilot mode with them.
If anything, any borrowers coming through that route provide us with more information than we would normally have on a borrower, so it should be a more compelling lending decision as and when we approve applications. With their express permission, we are able to request rent payment history data and the likes that can help us make a better decision.
We have not changed our lending criteria for this group, so they have been assessed in the same way (with supplemental data) as any other borrower would have been to date.
RichardI
If anything, any borrowers coming through that route provide us with more information than we would normally have on a borrower, so it should be a more compelling lending decision as and when we approve applications. With their express permission, we are able to request rent payment history data and the likes that can help us make a better decision.
We have not changed our lending criteria for this group, so they have been assessed in the same way (with supplemental data) as any other borrower would have been to date.
RichardI
#7
robinp2l
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Posted 21 August 2006 - 17:49
Richardl
I take it from your reply that you are a Zopa employee, if that is the case you are in the wrong group.
I mention this as I had an embarassing incident due to not realising that we need to check who is in which group.
I take it from your reply that you are a Zopa employee, if that is the case you are in the wrong group.
I mention this as I had an embarassing incident due to not realising that we need to check who is in which group.
#8
jamesd
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Posted 22 August 2006 - 18:15
RichardI, do these lending criteria apply to this group:
1. financially savvy people
2. an Equifax credit score above 350 ("B-rated borrowers have a higher credit score than most of the population"), assuming that most means "more than half" and Equifax's half is 350. Or maybe they are to be in a different market, C?
3. make at least £25,000 a year
4. no CCJ
Good to see Zopa exploring these markets, so the questions are to determine whether the current dscription of the lending criteria remains accurate, not to disagree with the concept, which I like and want to encourage.
1. financially savvy people
2. an Equifax credit score above 350 ("B-rated borrowers have a higher credit score than most of the population"), assuming that most means "more than half" and Equifax's half is 350. Or maybe they are to be in a different market, C?
3. make at least £25,000 a year
4. no CCJ
Good to see Zopa exploring these markets, so the questions are to determine whether the current dscription of the lending criteria remains accurate, not to disagree with the concept, which I like and want to encourage.
#9
Deddington
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Posted 26 August 2006 - 07:33
A mention in the Times City Diary under Magic circles (at the bottom)
Crop circles now! Some one in Zopa’s marketing department must be on magic mushrooms
Click here
Crop circles now! Some one in Zopa’s marketing department must be on magic mushrooms
Click here
Life is too short to drink cheap red wine.
#10
Deddington
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Posted 30 August 2006 - 00:14
Life is too short to drink cheap red wine.
#11
Deddington
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Posted 31 August 2006 - 08:29
A piece on the coming USA launch Click Here
Life is too short to drink cheap red wine.
#12
Deddington
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Posted 07 September 2006 - 22:31
Life is too short to drink cheap red wine.
#13
Deddington
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Posted 19 September 2006 - 01:47
London Stock Exchange
LSE
Early loan repayment penalties 'should be banned'
18th September 2006 08:02
Penalties for paying off personal loans early should be banned by the government, according to a lending and borrowing marketplace.
Zopa has said that early repayment penalties represent an "unhealthy disincentive" for people trying to clear debt as quickly as possible, adding that the fact that some low-cost lenders do not insist on repayment charges is proof that lenders are not simply "covering their costs".
In addition, they have a "strong anti-competitive impact", since they prevent borrowers from switching providers to take advantage of the best rates, the website stated.
Zopa's chief operating officer, James Alexander, remarked: "Similar to
exit penalties on pension transfers, early redemption penalties discourage
people from doing the right thing financially."
Tackling early repayment fees would help to brighten the outlook on borrowing while making the personal loans market more competitive, he concluded.
Moneysupermarket.com, the price comparison website, recommends that borrowers decide on whether they think it is likely they will be able to pay their loan back early before they apply, since some lenders offer loans without early settlement fees.
LSE
Early loan repayment penalties 'should be banned'
18th September 2006 08:02
Penalties for paying off personal loans early should be banned by the government, according to a lending and borrowing marketplace.
Zopa has said that early repayment penalties represent an "unhealthy disincentive" for people trying to clear debt as quickly as possible, adding that the fact that some low-cost lenders do not insist on repayment charges is proof that lenders are not simply "covering their costs".
In addition, they have a "strong anti-competitive impact", since they prevent borrowers from switching providers to take advantage of the best rates, the website stated.
Zopa's chief operating officer, James Alexander, remarked: "Similar to
exit penalties on pension transfers, early redemption penalties discourage
people from doing the right thing financially."
Tackling early repayment fees would help to brighten the outlook on borrowing while making the personal loans market more competitive, he concluded.
Moneysupermarket.com, the price comparison website, recommends that borrowers decide on whether they think it is likely they will be able to pay their loan back early before they apply, since some lenders offer loans without early settlement fees.
Life is too short to drink cheap red wine.
#14
elljay
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Posted 19 September 2006 - 16:59
Not exactly in the news, but I just caught a TV advert for moneysupermarket.com on Sky One that had a nice Zopa logo in amongst all the big name other logos.
The key is diversity. | Gooja map from this thread here. | Graphs of Zopa's MI data on my site, here. FC here. RS here. | ZopaHolics Anonymous logo here: | I'm not a Zopa employee.
| I'm not a Zopa employee.
#15
dave
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Posted 20 September 2006 - 08:39
elljay - nice spot!
We knew they were going to do that (They asked for permission to use the Zopa logo....funnily enough we said yes), and it's great to have Zopa advertising on TV for the first time! (Albeit via someone else)
We'll try and get hold of a video to put up somewhere.
We knew they were going to do that (They asked for permission to use the Zopa logo....funnily enough we said yes), and it's great to have Zopa advertising on TV for the first time! (Albeit via someone else)
We'll try and get hold of a video to put up somewhere.
#16
Deddington
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Posted 24 September 2006 - 13:42
Interesting.
Has this been mentioned anywhere on the site?
I have been away a week and might have missed a discussion about it.
Zopa announces Synaptics partnership
Zopa, the person-to-person market for lending and borrowing, has announced a partnership with Synaptic Systems, which will offer unsecured loans to IFAs and their clients.............
Click here for full article
Has this been mentioned anywhere on the site?
I have been away a week and might have missed a discussion about it.
Zopa announces Synaptics partnership
Zopa, the person-to-person market for lending and borrowing, has announced a partnership with Synaptic Systems, which will offer unsecured loans to IFAs and their clients.............
Click here for full article
Life is too short to drink cheap red wine.
#17
opazit
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Posted 24 September 2006 - 14:43
So Mortgage Solutions thought that the article was 'breaking news' on 19 September. I wonder when zopa will think enough of its members to 'break' the news to them? 
For every action, there is an equal and opazit reaction. Newton, No3-ish
#18
fosrock
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Posted 24 September 2006 - 17:19
This could lead to lender saturation.
It may even become worthwhile to borrow on Zopa to put the money into a high street savings account.
Hopefully the IFAs wont offer any of their 0.2% commision back to their clients or they will become more equal than the rest of us.
Unless you are a founder member and then you are already more equal
It may even become worthwhile to borrow on Zopa to put the money into a high street savings account.
Hopefully the IFAs wont offer any of their 0.2% commision back to their clients or they will become more equal than the rest of us.
Unless you are a founder member and then you are already more equal
#19
zopa_tom
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Posted 25 September 2006 - 16:34
opazit, on Sep 24 2006, 02:43 PM, said:
So Mortgage Solutions thought that the article was 'breaking news' on 19 September. I wonder when zopa will think enough of its members to 'break' the news to them?
#20
opazit
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Posted 25 September 2006 - 17:23
zopa_tom, on Sep 25 2006, 05:34 PM, said:
Apologies for not letting you guys know sooner - we didn't send an email out last week as we were getting worried about Zopa-email saturation and didn't want to provoke people into banishing us to their junk mail folder!
EDIT
Why not put up an RSS news - NOT BLOG - feed and let Zopa members make up their own minds about what they - NOT ZOPA - feel is relevant to them?
opazit
Edited by opazit, 25 September 2006 - 17:26.
For every action, there is an equal and opazit reaction. Newton, No3-ish
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