web investment

[kjra]

I caught the tale end of a programe on radio 4 which featured a new type of financing. It was set up on line and I think worked like a co-operative, whereby anyone could put their money forward and you then applied for a loan and negotiated with a group of people, the terms and conditions. Can anyone tell me when it was on, what it was called,or any more information. Have searched radio 4 website and cant find it.

I think you might be thinking of Zopa or something like it. Have a look at uk.zopa.com/ZopaWeb/ to see if it rings a bell!

It's an excellent way of creating financial difficulties for yourself as services like this do not subscribe to the banking code and provide no safeguards to lenders or borrowers.

It's a really dodgy scheme - steer well clear if you can.

As Rejessta says.
I simply cannot see how this is ever advisable, you would be better off handing out your house keys and asking people to pop £10 into a money tin every week.