Browse content similar to 12/02/2013. Check below for episodes and series from the same categories and more!
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Hello, welcome to The One Show with Matt Baker... And Alex Jones. | :00:20. | :00:24. | |
Tonight's guest has had loads of hard challenges in his career. | :00:24. | :00:29. | |
came second in Strictly Come Dancing. That is really hard. | :00:29. | :00:35. | |
won Celebrity MasterChef. Very hard. In 2003 he helped England win the | :00:35. | :00:40. | |
Rugby World Cup and the Six Nations Grand Slam. Extremely hard! | :00:40. | :00:43. | |
Question of Sport he picks his intellect against Phil Tufnell. | :00:43. | :00:52. | |
Well, everybody needs a break now and again. It's Matt Dawson! | :00:52. | :00:58. | |
wondered where that was going. have noticed that Tuffers seems to | :00:58. | :01:02. | |
have a better team on Question of sport than you. Is that trying to | :01:02. | :01:06. | |
level the playing field? I don't know about that. The perception is | :01:07. | :01:15. | |
that he plays the clown, but you know that. But he's very, very | :01:15. | :01:22. | |
bright. Lots of strings to his bow. Now, you will recognise this. This | :01:22. | :01:26. | |
is the Six Nations championship trophy. We will be asking who are | :01:26. | :01:30. | |
you think, a painful question for me, who you think will lift it on | :01:31. | :01:40. | |
March 16th. Hold on a minute, it's not over yet, is it? Far from over. | :01:40. | :01:46. | |
Massive game in Cardiff on the 16th. Triple Crown. We will also be | :01:46. | :01:49. | |
finding out who you think will be holding the good old wooden spoon. | :01:49. | :01:55. | |
It comes in very handy on Pancake Day. You are going to need this | :01:55. | :02:00. | |
later in the show. Yes, you are going to be making a pancake four | :02:00. | :02:07. | |
hours later on. It will be edible, as well. -- for us. We changed the | :02:07. | :02:12. | |
hob. What are we cooking on instead? It's a better one. Here is | :02:12. | :02:19. | |
someone with some tips. Anita Rani is worth a Michelin star pancake | :02:19. | :02:27. | |
I have been allowed into the kitchens of Le Gavroche. I am with | :02:27. | :02:34. | |
the owner and chef, Michel Roux Jnr. We are going to be taught how to | :02:34. | :02:38. | |
make the ultimate pancake. Thank you for letting us in, by the way. | :02:38. | :02:42. | |
I know it is very busy. What is the difference between a pancake and a | :02:43. | :02:48. | |
crepe? A pancake is the American style, it normally has baking | :02:48. | :02:53. | |
powder in it. It is fluffy, big and you serve it with bacon and maple | :02:53. | :03:01. | |
syrup. A crepe is a delicate pancake. It is thin. You can see | :03:01. | :03:07. | |
through it. Fair enough. I would still call it a pancake. But you | :03:07. | :03:11. | |
are the professional. While you are cooking away, let's talk about the | :03:11. | :03:15. | |
new series of Food and Drink. I saw it last night and thoroughly | :03:15. | :03:19. | |
enjoyed it. Why bring it back after 10 years? It was such an iconic | :03:19. | :03:25. | |
programme. An amazing programme. I remember seeing it as a kid and it | :03:25. | :03:28. | |
was something special. We kind of revived it. We brushed it up and | :03:28. | :03:33. | |
gave it a fresh look. It still has those core values. What sets it | :03:33. | :03:38. | |
apart from the other plethora of food shows? It's not a competition. | :03:38. | :03:42. | |
It is not MasterChef. It is not me going around the country and | :03:42. | :03:48. | |
cooking different recipes. It is about topical subjects and drink, | :03:48. | :03:52. | |
of course, which is very important, I think. You do cover topical | :03:52. | :03:57. | |
issues. One that you have not managed to film because it is a | :03:57. | :04:01. | |
very topical is the horsemeat scandal. How would you have dealt | :04:01. | :04:05. | |
with that, being a French chef? Being French, I don't have a | :04:05. | :04:13. | |
problem with eating horse. It is not to our tastes here, but the | :04:13. | :04:17. | |
real point of the scandal for me is labelling, it was not labelled | :04:17. | :04:22. | |
probably. That needs improving. Let's have a taste of what is | :04:22. | :04:26. | |
coming up next week on Food and Drink. The secret to making perfect | :04:26. | :04:33. | |
trips is to wash the starch off first and double fried. What | :04:33. | :04:40. | |
temperature? 160. We are just cooking them until they are soft, | :04:40. | :04:47. | |
just to get a skin on it. We let them rest and core. Just before we | :04:47. | :04:55. | |
need them, they go back in at 180. Crunchy and soft. I noticed that | :04:55. | :05:02. | |
you were cooking British trips, proper chips. In your opinion, and | :05:02. | :05:07. | |
think carefully about it, who is at the forefront of cooking, the | :05:07. | :05:13. | |
British or the French? It's easy! We are in a French restaurant. | :05:13. | :05:17. | |
but we are in London. The majority of the staff working for me are | :05:17. | :05:22. | |
British. Does that answer your question? You are being very | :05:22. | :05:27. | |
diplomatic. Shall we try the pancake? It looks incredible. | :05:27. | :05:34. | |
Pancake or crepe? Matt Dawson has a question, while we are eating less. | :05:34. | :05:41. | |
I am holding a wooden spoon. I know you have plenty of them, do you | :05:41. | :05:46. | |
think he will have another one in March, with the French rugby team? | :05:46. | :05:52. | |
I don't like that question, I really don't. Coming from you, I am | :05:52. | :05:56. | |
surprised. He worked for me in this kitchen. U-bend something and | :05:56. | :06:06. | |
:06:06. | :06:07. | ||
served it to my father and my uncle. That is a slight exaggeration, it | :06:07. | :06:10. | |
was ever so slightly scorched. It went brilliantly well, apart from | :06:10. | :06:19. | |
one corner was slightly caramelised. One corner?! Apparently they are | :06:19. | :06:27. | |
still talking about it. The family cannot get over it. Thank you very | :06:27. | :06:32. | |
much. I'm going to try this. Quickly, | :06:32. | :06:42. | |
:06:42. | :06:47. | ||
You did deliver quite a desert? was truly amazing, working in Le | :06:47. | :06:52. | |
Gavroche, at 7am, all of the preparation for one dish. I was | :06:52. | :06:58. | |
only doing it for one. How these guys do it, it is off the scale. We | :06:58. | :07:05. | |
had Albert, Michel Roux Jnr, all four of them. I just pushed a | :07:05. | :07:11. | |
little bit of cream away, he said, that looks burnt, take it away. | :07:11. | :07:17. | |
Shall we actually see it? haven't got it? Of course we have. | :07:17. | :07:22. | |
I really enjoyed it. And puddings are not my thing, at all. Forget | :07:22. | :07:32. | |
:07:32. | :07:34. | ||
That is what you do, nowadays? Since doing that show, most of my | :07:34. | :07:37. | |
workout side of the Rugby and Question of Sport, it has been in | :07:37. | :07:44. | |
food. I work for a food company that originally came from France. | :07:44. | :07:47. | |
Health and well-being, that is where I am at the moment with food. | :07:47. | :07:53. | |
I enjoy it. Last year, the 100 anniversary of the sinking of the | :07:53. | :07:55. | |
Titanic was commemorated with television programmes and memorial | :07:55. | :08:01. | |
events the world over. But 40 years after the tragedy is another | :08:01. | :08:04. | |
maritime disaster that is less well known. | :08:04. | :08:10. | |
This is the last moving footage of the Princess Victoria. On 31st | :08:10. | :08:15. | |
January, 1953, she set off, as usual, from Stranraer in Scotland | :08:15. | :08:23. | |
to Northern Ireland. On board were 51 crew, 126 passengers and 110 | :08:23. | :08:33. | |
:08:33. | :08:34. | ||
bags of mail. In 1953, the mail boat always sailed, whatever the | :08:34. | :08:38. | |
weather. Billy McAllister was only 17. He was a galley boy in the | :08:38. | :08:46. | |
kitchen and this was his first job at sea. We left at about 7.45. It | :08:46. | :08:54. | |
wasn't bad. You could see what it was like outside. This was a storm | :08:54. | :08:58. | |
on a national scale. Hurricane force winds combined with high | :08:58. | :09:04. | |
tired to devastating effect. Across the country, 307 people lost their | :09:04. | :09:09. | |
lives. 32,000 were made homeless. As soon as the Princess Victoria | :09:09. | :09:15. | |
left the shelter, she was exposed to 50 foot swells and battered by | :09:15. | :09:20. | |
gale-force wind. At 9am, just 10 minutes after leaving the loch, a | :09:20. | :09:26. | |
huge wave forced its way through the stern doors, leaving it wide | :09:26. | :09:32. | |
open to the storm. 200 tons of water poured into the car deck. | :09:32. | :09:37. | |
Morse code was the main link with the land and an emergency signal | :09:37. | :09:44. | |
was sent. In such stormy conditions, the only hope was the coastguard | :09:44. | :09:48. | |
tracking the signal and locating the ship. Fatally, and inaccurate | :09:48. | :09:52. | |
position was given. To make matters worse, the Princess Victoria was | :09:52. | :09:58. | |
still on the move, pensions pushing her a further into the Irish Sea | :09:58. | :10:06. | |
and deeper into the teeth of the Tempest. With radar in its infancy, | :10:07. | :10:10. | |
the Princess Victoria was not tractable. Nobody knew where in the | :10:10. | :10:16. | |
Irish Sea she was. By 12.20, she was almost on her side. There were | :10:16. | :10:22. | |
500 tons of water in the car deck. An SOS signal was sent and the | :10:22. | :10:26. | |
order was given for passengers to put on lifejackets and muster to | :10:26. | :10:31. | |
the deck. They were tried to get them up, even by roads. And they | :10:31. | :10:34. | |
would not move. They would not come up. They may be thought it was | :10:34. | :10:40. | |
safer down there. It was not safe down there. At last, at 12.17, the | :10:40. | :10:44. | |
coastguard got an accurate bearing on aware that Princess Victoria was. | :10:44. | :10:48. | |
She was less than 12 miles to the north-north-east of the Copeland | :10:48. | :10:56. | |
Islands, some 60 miles south of their forlorn search. At the | :10:56. | :11:01. | |
lifeboat, the Sir Samuel Kelly, was launched to help the ship. Quentin | :11:01. | :11:04. | |
Nelson's father and five other family members were romanced the | :11:04. | :11:08. | |
rescue crew. The agency was unbelievable. They were talking | :11:08. | :11:15. | |
about waves 50 or 60 ft-high. This boat is 40 foot long. A you start | :11:15. | :11:19. | |
getting a funny feeling that they are not going to get out of this, | :11:19. | :11:24. | |
you know? The Princess Victoria sent her final SOS, five miles | :11:24. | :11:29. | |
north of the Copeland Islands and just 15 nautical miles from calmer | :11:29. | :11:39. | |
I just started running down the side, here. If I had waited any | :11:39. | :11:44. | |
longer, she would have taken me down with her. There was a lifeboat | :11:44. | :11:49. | |
and they were shouting, get out of their, jump. I jumped. You've got | :11:49. | :11:53. | |
to get them first time, you don't get a second attempt. Unfortunately, | :11:53. | :11:59. | |
these people had a very short time. No women or children survived the | :11:59. | :12:06. | |
disaster. Of the 170 people that sailed that day, only 44 survived. | :12:07. | :12:11. | |
I didn't think we were going to make it, because I can't swim. | :12:11. | :12:17. | |
news cameras were dockside as the rescue crews returned. This boat, | :12:17. | :12:22. | |
And rescue 33, they went and did a job and did it very well. | :12:22. | :12:26. | |
inquiry found it had been caused by the inadequacy of the stern doors. | :12:26. | :12:34. | |
It concluded, if the Princess Victoria had been as staunch as the | :12:34. | :12:38. | |
men that manned her, all would have been well and the disaster averted. | :12:38. | :12:44. | |
It seems incredibly sad that the ultimate goal was to deliver the | :12:44. | :12:52. | |
mail. Matt, let's talk rugby. mean business, don't you? | :12:52. | :12:56. | |
exciting start to the Six Nations Championship, especially the first | :12:56. | :13:04. | |
again. Wales lost, but a very exciting start. All right! It was | :13:04. | :13:07. | |
probably one of the best, if not the best opening weekend in rugby. | :13:07. | :13:12. | |
Just because of the way that all the teams played, maybe apart from | :13:12. | :13:17. | |
France. Italy beating France, England doing well against Scotland. | :13:17. | :13:21. | |
The way that Ireland performed, down in Cardiff, I thought that | :13:21. | :13:27. | |
Wales were going to be able to play there, you would expect them to win | :13:27. | :13:30. | |
there. It's a shame that the weekend just gone was slightly... | :13:30. | :13:35. | |
That was much better! Well, it was better for all sorts. Certainly for | :13:36. | :13:43. | |
George North. But the weather killed the Ireland and England game. | :13:43. | :13:47. | |
But for England it showed a huge amount of character to go to | :13:47. | :13:51. | |
Ireland and to win. On any occasion, that's a fantastic achievement. It | :13:52. | :13:56. | |
has not been done for 10 years in the Six Nations. You were in the | :13:56. | :13:59. | |
team the last time it was done. You actually thought that Ireland were | :13:59. | :14:03. | |
going to beat England? Because of the way they played against Wales, | :14:03. | :14:08. | |
and they were at home. They are very stingy in defence. They have | :14:08. | :14:13. | |
superstar players, Brian O'Driscoll and the like. But there was a | :14:13. | :14:17. | |
little part of me that was thinking, yes, I am quite happy for Ireland | :14:17. | :14:20. | |
to be the favourites. That is all well and good because this England | :14:20. | :14:24. | |
team is probably better to be the underdogs at the moment. Now, | :14:24. | :14:28. | |
winning it, they are going to be the favourites. Brian O'Driscoll | :14:28. | :14:36. | |
wife had just had a baby, amazing that he was on the picture. My wife | :14:36. | :14:43. | |
would have killed me! Are you joking? Yes, well done, love, but | :14:43. | :14:48. | |
I'm just off. Cards on the table, who will be lifting the trophy? | :14:48. | :14:54. | |
Down in Cardiff? I have narrowed it down! I think it will go down to | :14:54. | :15:01. | |
that game. Down in Cardiff. Whether Wales win their games and it | :15:01. | :15:05. | |
becomes a championship decider, if they don't win and it's an England | :15:05. | :15:09. | |
Grand Slam, Wales will not want to lose to England. That game is guide | :15:09. | :15:15. | |
to be huge. If Wales win, can you imagine what George North's dad is | :15:15. | :15:25. | |
:15:25. | :15:39. | ||
going to do? This was him after he Taken off by stewards. Poor dad. | :15:39. | :15:44. | |
Never mind the stewards, if my dad had done that, my mum would have | :15:44. | :15:47. | |
been furious. How dare you embarrass the Dawson household. | :15:47. | :15:52. | |
you say who you think will win? Because of that in Ireland, | :15:52. | :16:00. | |
definitely go with England. Wooden Spoon? I've given it to Michel | :16:00. | :16:05. | |
already. The French have had it. They deserve at least one. They are | :16:05. | :16:10. | |
too busy anyway. Broadcaster Andy Kershaw is known for his love of | :16:10. | :16:15. | |
music, but he jumped at the chance to go back to his rock star roots. | :16:15. | :16:20. | |
It could be something to do with this artist's last name. Many areas | :16:20. | :16:23. | |
of Lancashire like this one in Rochdale, my birthplace, were going | :16:23. | :16:32. | |
through huge changes. Traditional terraces were being demolished and | :16:32. | :16:39. | |
families were moving from old housing into new. I remember it as | :16:39. | :16:43. | |
a fairly drab and dreary place, but one man made it his mission to | :16:43. | :16:52. | |
bring a little colour to the area. His name was Walter Kershaw. Years | :16:52. | :16:57. | |
before Banksy and today's artists were grabbing the headlines, he was | :16:57. | :17:02. | |
pioneering the first British street art, by painting enormous Muirials | :17:02. | :17:09. | |
on condemned housing in Lancashire. Now in his 70s, Walter still lives | :17:09. | :17:16. | |
and works in the area that made his name. This territory is my early | :17:16. | :17:22. | |
mural site. I was looking for dilapidated and ill-maintained | :17:22. | :17:28. | |
gable ends and I thought my art will be a rebellion against the | :17:28. | :17:32. | |
dreadfullness of contemporary architecture. That was progress | :17:32. | :17:42. | |
:17:42. | :17:43. | ||
then? Yeah. All that concrete was progress. Brick walls earmarked for | :17:43. | :17:47. | |
clearance, provided a perfect canvass for Walter's vivid | :17:47. | :17:57. | |
:17:57. | :17:59. | ||
imagination. A Spitfire or a beach scene? Complete escapeism! Today, | :17:59. | :18:02. | |
Walter paints on a much smaller scale, in his studio, surrounded by | :18:03. | :18:09. | |
memories of muerlz long gone. -- murals long gone. It was really so | :18:09. | :18:13. | |
much fun doing that and all the community doing that and joining in. | :18:13. | :18:18. | |
I've tried to get an idea of how do you start one of these things? | :18:18. | :18:24. | |
would measure it for a start. Then I would do a scaled-up, large | :18:24. | :18:30. | |
sketch. I would draw on the gable end and design the flowers and take | :18:30. | :18:37. | |
it along. Politics or sloganising or graffitti as such doesn't appeal | :18:37. | :18:44. | |
to me. I'm about considering the scale of the building. I consider | :18:44. | :18:48. | |
the angles and thinking in terms of renaissance and trying to evolve | :18:48. | :18:53. | |
beautiful painting. What kind of paint were you using? I was using | :18:53. | :19:03. | |
:19:03. | :19:04. | ||
external paint, which had only just come out in the late 1960s. In 1982, | :19:04. | :19:09. | |
he completed his biggest project ever. It was at Manchester's | :19:09. | :19:13. | |
Trafford Park. They are calling it a megamural. It has taken Walter | :19:13. | :19:16. | |
Kershaw four years to plan and complete the painting on a wall 72 | :19:16. | :19:21. | |
feet high and 63 feet wide. I think at the time it was certainly the | :19:21. | :19:24. | |
largest mural in Europe, possibly even in the world. They certainly | :19:24. | :19:29. | |
had the most detail. I wanted to create a great work of art, with | :19:29. | :19:35. | |
movement and figures and machinery and adaptibility. -- adaptability. | :19:35. | :19:39. | |
Lost to the wrecking ball and the British weather, none of the | :19:39. | :19:49. | |
:19:49. | :19:50. | ||
masterpieces have survived. But, today, a gable end in Rochdale is | :19:50. | :19:58. | |
getting the Kershaw treatment once again. The One Show has arranged | :19:58. | :20:03. | |
for students from a local college to honour Walter with a mural of | :20:03. | :20:12. | |
his signature images. Are you excited? Yeah, very much so. Look | :20:12. | :20:16. | |
at the Spitfire. You put all the witty details if there and the | :20:16. | :20:21. | |
sense of humour. The cat on the window. Excellent. Well done. | :20:21. | :20:28. | |
there any bit that needs finishing off? The vase needs finishing. | :20:28. | :20:36. | |
it? Yeah. In a film in 1976 you said you would want to bring a | :20:36. | :20:41. | |
little madness to the area. glad that madness is still alive | :20:41. | :20:50. | |
and ticking here. APPLAUSE | :20:50. | :20:55. | |
A lovely tribute to Walter. If you're in Rochdale you can see the | :20:55. | :20:58. | |
mural on 59 Ramsay Street before the wrecking ball gets it and | :20:58. | :21:04. | |
knocks it down in about four weeks. People will think that's the end of | :21:04. | :21:08. | |
Neighbours. It's not Harold's house. Matt, I've been a fan of question | :21:08. | :21:14. | |
of sport for as long as I can -- a fan of A Question of Sport, for as | :21:14. | :21:19. | |
long as you can remember, but look at the questions. Which Olympic | :21:19. | :21:27. | |
event is this? Gymnastics. It's the rings. Andy Roddick is renouned for | :21:27. | :21:37. | |
:21:37. | :21:41. | ||
this. Serve. Yes. Who is this? Jonny Wilkinson. Yes. What is this? | :21:41. | :21:49. | |
APPLAUSE We'll be seeing that tomorrow night. | :21:49. | :21:56. | |
Incredible. They make us do some crazy stuff. They don't tell us. | :21:56. | :22:00. | |
Once they put us on top of a plane and made husband wing walk. That's | :22:00. | :22:05. | |
right. Whilst we were answering questions. Imagine Phil doing that. | :22:05. | :22:09. | |
He loved it. It's been on air 42 years and we want to see how many | :22:09. | :22:17. | |
team captains you can name in 30 seconds. Follow the numbers. Ally | :22:17. | :22:27. | |
:22:27. | :22:30. | ||
McCoist. Brend and Foster. -- Brendan Foster. Cliff Morgan. Emlyn | :22:30. | :22:40. | |
:22:40. | :22:44. | ||
Hughes. Frankie Dettori. Fred Trueman. Gareth Edwards. Pass. Heny | :22:44. | :22:50. | |
Cooper. Ian Botham. Bill Beaumont. Me and Phil Tufnell and, hold on, | :22:50. | :22:53. | |
I'll get there. Willie Carson. APPLAUSE | :22:53. | :23:01. | |
Well done. Good effort there. Brilliant. You were doing so well. | :23:01. | :23:07. | |
Tuffers is at home going... We've seen Michel Roux does his stuff | :23:07. | :23:11. | |
with the pancake and now we're going to send you over to the | :23:12. | :23:15. | |
kitchen area. We have an apron and a chef's hat. You've four minutes. | :23:15. | :23:21. | |
You better get a move on. Whilst he gets cooking here is Lucy on how | :23:21. | :23:27. | |
lending money to strangers online might make you think about doing it. | :23:27. | :23:30. | |
You've got a brilliant business idea or perhaps you want to expand | :23:30. | :23:33. | |
your existing brilliant business. Either way, you need to borrow some | :23:33. | :23:39. | |
money to make it happen. So, where do you go when you know your idea | :23:39. | :23:47. | |
is a winner? I know a man who might be able to help. Paul started his | :23:47. | :23:51. | |
advertising agency 20 years ago with a �2,000 loan from his | :23:52. | :23:56. | |
business partner's mother. Borrowing money from her was the | :23:56. | :24:01. | |
last resort. We were too wet behind the years and a bank couldn't take | :24:01. | :24:04. | |
us seriously. From that, he's now the owner of three companies worth | :24:04. | :24:09. | |
a cool �32 million. Of course, he paid his invest for back with | :24:09. | :24:15. | |
interest. Paul's now lending his spare cash to individuals through a | :24:15. | :24:21. | |
new financing called peer to peer lending. -- peer-to-peer lending. | :24:21. | :24:26. | |
There are a whole list of companies who are looking to borrow amounts | :24:26. | :24:29. | |
from �20,000 up to �100,000. there any on here that you think | :24:29. | :24:33. | |
are really good ideas? There's one particular one at the moment and | :24:33. | :24:36. | |
it's a car dealership in Leicestershire. They need to get | :24:36. | :24:41. | |
some more second-hand cars to sell. Will you lend money? Yes. Shall we | :24:41. | :24:45. | |
do it now? It's a business that wants to borrow �100,000. What you | :24:45. | :24:50. | |
do is bid for the amount that you want to lend and the interest rate. | :24:50. | :24:53. | |
This lending works by borrowing lots of little chunks of money from | :24:53. | :24:57. | |
many different lenders and they choose their own interest rates and | :24:57. | :25:00. | |
compete by offering slightly lower rates for the money they're | :25:00. | :25:03. | |
offering. Once the desired loan amount is reached, it goes to the | :25:03. | :25:09. | |
borrower, who then pays it back over time with interest. I want to | :25:09. | :25:14. | |
lend �200 and I'll pick an interest rate of 97. Is it pretty | :25:14. | :25:18. | |
disappointing when your bid hasn't been successful? Yeah. Paul won his | :25:18. | :25:24. | |
bid the next day, which means he'll make �18 profit on the loan. It | :25:24. | :25:30. | |
doesn't sound much, but the more you invest then the more interest. | :25:30. | :25:38. | |
9% is a lot higher than the bank accounts. Old St Andrew's wanted to | :25:38. | :25:41. | |
diversify. Today, one of its lenders is visiting for the first | :25:41. | :25:49. | |
time. Bill, what attracted you to this business? I like the way they | :25:49. | :25:53. | |
presented themselves. I read the company had turned around in four | :25:53. | :25:57. | |
years and then the production was back from China. It would save | :25:57. | :26:02. | |
money and better credit terms and quicker deliveries. Is it not | :26:02. | :26:08. | |
strange that you haven't met? Bill 20 minutes ago. Because it's a | :26:08. | :26:13. | |
straightforward agreement he knows I can pay and I'm happy to borrow | :26:13. | :26:21. | |
it. How much did you invest? In the end I think �2,000. Bill has made | :26:21. | :26:26. | |
�170. That's 8.5% gross profit on his investment with Bob. He's happy | :26:26. | :26:33. | |
with the investment, but he's not always so lucky. Have you ever lost | :26:33. | :26:37. | |
money? A very small amount. I think it was a 12-month investment and | :26:37. | :26:43. | |
they didn't pay the last two. It wasn't a lot. It was under �100. | :26:43. | :26:47. | |
It's not just businesses borrowing hard cash. Personal loans are | :26:47. | :26:53. | |
available too. Zopa has overseen millions of pounds worth of loans | :26:53. | :26:57. | |
over seven years. Anyone with a decent credit rating can borrow for | :26:57. | :27:02. | |
a new car to a new kitchen, but who's lending all this money? | :27:02. | :27:06. | |
of our lenders live in the south- east of England. They are lending | :27:07. | :27:12. | |
on average about �5,000 to �10,000. They are in their late 40s or 50s. | :27:12. | :27:17. | |
They're not high-network individuals or big investors in | :27:18. | :27:21. | |
other assets. They are very normal people who are looking for better | :27:21. | :27:25. | |
deals. What's the catch you may ask? Well, if a bank goes bust your | :27:25. | :27:30. | |
savings are protected by the Government. What's the protection | :27:30. | :27:33. | |
for peeve-to-peer lenders? There isn't any. It's a risk and you | :27:33. | :27:37. | |
could lose the cash you invest. It's a young industry, but so far | :27:37. | :27:43. | |
losses from bad debts have stayed low, at around 1% or 2%. The risk | :27:43. | :27:48. | |
lies at an individual level between lenders and borrowers, in that when | :27:48. | :27:52. | |
you borrow from a lender you might not repay. The way to mitigate that | :27:52. | :27:59. | |
is to make sure we do the best job we can to credit check and we | :27:59. | :28:03. | |
spread the risk to make sure you lend lots of small amounts to | :28:03. | :28:07. | |
individual borrowers. The lenders will suffer some credit losses and | :28:07. | :28:12. | |
our job is to make sure they suffer less than they're expecting. | :28:12. | :28:16. | |
appears a quiet revolution is under way and who knows, it might be that | :28:16. | :28:22. | |
we may not need the high street banks as much in the future. Thank | :28:22. | :28:28. | |
you very much. How successful would you say that? -- that was? | :28:28. | :28:33. | |
Considering the equipment and all the rest of it. Don't blame the | :28:33. | :28:43. | |
:28:43. | :28:43. | ||
tools. Let's look at the flip. This is what happened mid-film. | :28:43. | :28:46. | |
APPLAUSE I've never felt so much pressure | :28:46. | :28:51. |