You only have to borrow what you can repay and all Zopa loans are subject to our normal credit checks If we terminate your contract because you have not had any active products or services with us for some time, we may transfer all funds in your account to a charity of our choice in accordance with any rights we have under the law. applicable, pay. In the event of any discrepancies between this Agreement and the Loan Terms, the wording of the Loan Terms shall apply. You can close your ISA at any time by emailing us at contactus@zopa.com. You must withdraw or transfer ALL ISA funds within your ISA before they can be closed. Instantly view your existing Zopa loans and investments with Touch ID and Face ID 3. Supervisory standards – P2P lenders must maintain a certain level of capital, which depends on the unpaid value of their existing loan portfolio, in order to withstand financial shocks in the future. Zopa far exceeds the minimum requirements set by the FCA. We charge a loan service fee on each loan agreement you invest in, which is deducted directly from each borrower repayment before the principal and interest are passed on to investors. The cost of credit service fees may vary from one investment product to another. Phone: 020 7580 6060 for loans; 020 7291 8331 for investments. Loan agreements are concluded with Zopa Bank Limited and their duration begins as soon as we have settled your money with a credit customer and the lender`s rights are transferred to you. If you purchase an existing loan, the lender`s rights under this Agreement will transfer to you.

You may have more than one loan agreement with a single borrower, but the maximum you lend to a single borrower at the time of a loan is 1% of the total amount you have invested. Your monthly repayments decrease if you pay extra for your loan. It says borrowers “should expect to receive interest rates as good or better than the best tests available on the main road.” This week, interest rates ranged from 5% to 9%, depending on your credit score and the duration of the loan. With the example above, this would mean that the amount of your loan is £1,980. As described in Principle 14 below, we may appoint a rescue service in certain limited circumstances. Our backup service may charge an additional fee per loan to cover the cost of the backup service. We only expect them to do so if the current level of credit service fees compromises their ability to continue the credit service (and thus the ability of investors to receive repayments). In the general course of business, we charge the current loan service fee more than the loan service costs. Any additional fees will be deducted from the borrower`s repayments by Zopa or the rescue service in the same way as the loan service fee mentioned above.

Note: Certain fees also apply to the sale of your loan agreements on the secondary market, as described in Principle 7. However, it is not possible to choose a new amount from scratch because your loan agreement is a fixed contract. .