The latest information we had is that it accepts around 20% of applications, at least during normal times, which is in line with the major banks. British company Zopa was the forerunner in the UK’s peer-to-peer (P2P) lending market, and has been linking investors and borrowers through its loan products since it launched in 2005. Zopa's lending accounts are available as IFISAs. If we consistently receive data, we have more opportunity to spot errors, inconsistencies or data manipulation, and we can do better models of the loans. That includes the IFISA versions of Zopa's accounts. Since 2021 has just started and Zopa not providing up-to-date data on last year, we can look at 2018 and 2019 as the most recent years. Discover all you need to know about 5-year fixed-rate bonds, including how to find the best one for you. Is Zopa good compared to the stock market? Turning to what's new in 2021 since our previous Zopa review: Lending with Zopa many years ago, you would have received more money and sometimes you would have done so with protection from a reserve fund. But this is one of the most competent and learned platforms available. For cash ISAs, I found the best account on the Top Cash ISAs page. This is steadier even than the high-street banks, which have fine-tuned their personal loans lending over many decades. Finder.com Comparison UK Limited (company number: 10482489) is 6/10 means that we forecast 10% to 15% losses before interest through a severe recession over all the years that the loans are repaid. The credit card is yet to launch, but Zopa’s savings accounts opened for customer applications at the end of August 2020. The majority of the increase over the years is related to Zopa maturing as a business. The next year or two will certainly see higher annualised bad debt. Any money you have in in the Royal Bank of Scotland, including in cash at Zopa, is covered under the same limit. Usually, other lenders need to buy your loans, Yes, unless adjusted to stop new lender losing out, Zopa does UK personal loans to creditworthy individuals, repaid within five years. Zopa has launched its fixed term savings account at a time when digital bank companies are increasingly challenging the established financial industry. daily, Business bank accounts for non-UK residents. Zopa review: how much are Zopa's lending fees? For the first time, Zopa is now forecasting that the average lender will receive less than 4% in both its Zopa Core and Zopa Plus accounts. Zopa launches first credit card but experts warn against its 'sub prime' 34.9pc interest rate Provider already offers savings accounts and personal loans in addition to peer-to-peer investing But, unfortunately, Zopa is not a public listed company. Without mentioning specifics, Zopa says it will address the “poor service and unclear pricing” offered by their existing card providers. We’re Zopa. The pandemic has made us … The credit card is yet to launch, but Zopa’s savings accounts opened for customer applications at the end of August 2020. Like all peer-to-peer lending platforms and IFISA providers, the money you are lending is not covered by the Financial Services Compensation Scheme. Indeed, a drop of 15-25% in the space of just one year is not especially surprising when investing in shares. The target Zopa Plus return after bad debt is currently 3.7%. In a previous Zopa review, I favoured Zopa Core, because there was a slight lack of information about Zopa Plus. interest generated for over 60,000 active investors. Posted on 12 August 2020 by Laura Whateley in Your money. Interest rates are not exciting and lenders can expect some variability between their results. 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