Jeansloans

I've been an interested bystander in these forums for two years now but felt impelled to join in following Zopa's last lender email.
It said: "Since the beginning of the year, banks have been decreasing their representative APR, with Marks & Spencer's the latest to drop their rate from 7.5% to 6.9% for loans above £7,500 . . . Zopa lenders can play their part in making sure they come to us. Why not pinch your rate by just 0.1% to see faster lending and faster returns?"
The weekend before this was circulated, I was happy to find I was able to get a few loans out at rates that were half reasonable.
I don't think Zopa did us any favours sending this email at a time when lenders are already being more than generous in their expectations. The going rates this weekend are now even more dismal than they were before.  M&S may well be lending at those rates to a few pristine credit-rated borrowers - but not to the masses. If anything, new lenders on Zopa should be prompted in their own best interest to tweak rates up, not down. At least Zopa could use this communication to remind lenders (the target being new members) of the real bottom line returns as Ashtondav did in a recent reply to bjb59er. I'm sure Zopa itself has benefited enormously however.