Only Finance.com® - Peer-to-peer loans to grow in 2008

Loans - Peer-to-peer loans 'to grow in 2008' - 16/01/2008

People lending money to each other on the internet will become a key investor trend this year, peer-to-peer loans site Zopa said yesterday.

The increase in popularity of internet lending is being driven by the credit crunch - which has decreased the value and perceived safety of other, more traditional investments.

Recent slowdown signs in the property market, with several studies detecting decreasing price inflation in the sector, have also lessened home-buying's attractiveness for those who want good returns on their cash.

By contrast, lending money on a peer-to-peer basis under a pre-agreed interest rate is growing in popularity, Zopa said.

Managing director at Zopa UK Giles Andrews added: "These developments all serve to put the real and growing consumer benefits of peer-to-peer lending in a brighter and brighter spotlight.

"As soon as the real benefits of Zopa are seen and recognised for what they are by the wider population, peer-to-peer finance will take off - market conditions this year will help towards this no end."

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