Zopa Listings Lending

Listings work just like an online auction, except that the ‘price' or interest rate comes down instead of going up as lenders compete by reducing their rates to be included in your loan. To create a listing, you follow Zopa's step-by-step guide to create a profile, giving the Zopa lenders some information about how much you want to borrow, what for and why you're a safe pair of hands for their money. You then give Zopa your personal details so that they can get your credit score and as long as you pass their minimum credit checks, your listing goes live on the Zopa website for the lenders to see. A few days later, when bidding on your listing finishes, you get to decide if you want to accept the final overall rate that the Zopa lenders have offered you.

So your loan might actually be made up of lots of £10s from lots of different lenders who are real people like you and me, and of course Zopa keep your personal details completely private and secure. Zopa also ensure things are nice and simple for you by taking a single monthly repayment from your bank account and distributing it amongst your lenders, so you don't have to worry about organizing lots of little repayments to them directly.

Finally, Zopa have absolutely no sneaky fees whatsoever. It's absolutely free to create a listing. The only fee you'll have to pay is £118.50, which is added to the loan amount and is only charged if you accept your loan. That's it. There are no fees after that - even if you want to make over-payments or full early repayment on your loan, Zopa don't charge a bean for that either, so it's a really flexible loan too!

So why not check out their latest rates now?

The information above should not be considered as financial advice.  If you require assistance, please see a recognised financial advisor.