Guy Shone, Managing Director for Explain The Market, joined Nick Batsford, CEO of Tip TV, on the Tip TV Finance Show to discuss the growth of peer-to-peer lending and Zopa.
Key Points:
Shone noted that the peer-to-peer lending market until recently has been viewed as an alternative, but it is growing and is slowly becoming more mainstream.
He continued that this is shown by Zopa, which began in 2005, and have recently lent out their billionth pound.
Shone added there is evidence that people are giving up on the traditional market and lenders, for instance with pay-day lenders saying we’ve sorted ourselves out.
He concluded that peer-to-peer lending has a great model, with strict credit checks and diversified investments, along with an emergency fund which provides transparent and clear lending, which is what consumers are looking for.
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