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Loan lending websites stealing a march on banks.
London, Wednesday, 3rd January 2007
There is a growing trend of people joining specialised lending companies, instead of availing loans from banks. Zopa is one such company. This website facilitates people to lend and borrow money.
The popularity of this website stems from lower interest rates. Zopa facilitates like-minded people to meet, and know exactly what they are getting and paying back. This website assists in cutting out complicated issues, and makes loan fundamentals clear and uncomplicated. Another advantage this website has over banks is that peosple can actually meet on a common platform, where the borrowers and lenders get to know each other. The social factor is what people seem to enjoy. Most Britons would rather seemingly deal with people than banks and lending institutions.
The principal benefit is the lower lending fees and the fact that borrowers save around 50% on what they would be paying, if they borrowed from some different source. In fact, these websites' popularity is so great that the New Year may see banks coming up with customer-friendly schemes, simply to retain clients.
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London, Wednesday, 3rd January 2007
There is a growing trend of people joining specialised lending companies, instead of availing loans from banks. Zopa is one such company. This website facilitates people to lend and borrow money.
The popularity of this website stems from lower interest rates. Zopa facilitates like-minded people to meet, and know exactly what they are getting and paying back. This website assists in cutting out complicated issues, and makes loan fundamentals clear and uncomplicated. Another advantage this website has over banks is that peosple can actually meet on a common platform, where the borrowers and lenders get to know each other. The social factor is what people seem to enjoy. Most Britons would rather seemingly deal with people than banks and lending institutions.
The principal benefit is the lower lending fees and the fact that borrowers save around 50% on what they would be paying, if they borrowed from some different source. In fact, these websites' popularity is so great that the New Year may see banks coming up with customer-friendly schemes, simply to retain clients.
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