Zopa closes in on Sipp market

The company is an online marketplace where people meet to lend and borrow money, also known as “ebay for money”, and it says the potential deal with Sipp providers would see the launch of a new asset class which would benefit from pension tax relief while receiving average returns of between 6.75% and 14% per year. This latest move follows Zopa’s announcement last week outlining its intention to try and target the intermediary market by offering IFAs who introduce a 'lender' to Zopa 0.2% commission of all the money lent by that client, along with a minimum £50 commission payment for each ...