Frequently asked questions

Auto lend

  1. Make money by recycling
  2. How it works
  3. How to turn it on (and off)
  4. Lending with a CCA licence?
Make money by recycling

Recycling is a good thing to do. It helps preserve resources, it protects the environment, and at Zopa at least, it can make you money and save you time.

Because the Zopa auto lend facility recycles your repayments for you, putting any money that comes back to you straight back onto the Zopa marketplace. So your money’s never sitting still - if it's not lent out, it's on offer to even more borrowers.

And the best part is, you don’t need to lift a finger - once auto lend is turned on, it’s all done for you.

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How it works
  • Your borrowers make monthly repayments, paying back a bit of the loan capital along with some interest. The money that you receive from these repayments will be automatically added to one of your lending offers (in chunks of £10) - so it’ll be made available to new borrowers at the rates and terms you set.

Auto lend

  • The money will be added to your last lending offer, unless you change your settings. To do this, go to the Lending Offers page in your account, select Auto Lend from the dropdown and then choose which offer you’d like the money to be added to.

Choose an offer for Auto lend

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How to turn it on (and off)
  • All new lending offers will have auto lend turned on as standard. If you don’t want your repayments to be put back onto the market, go to your Lending Offers, select Auto Lend from the dropdown and choose for your repayments to go to your holding account instead.

choose for your repayments to go to your holding account

  • If you’re an existing lender, you can turn auto lend on by signing in to your account , going to your Lending Offers page and selecting Auto Lend from the dropdown. (Please note - you need to have at least £10 left in your lending offer to start using auto lend.)

choose for your repayments to go to your holding account

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Lending with a CCA licence?

If you lend with a CCA licence, you can use the auto lend facility to recycle your repayments, but you first need to pre-sign some contracts with your future borrowers. This won’t take too long, and you can pre-sign up to 10,000 in one fell swoop.

Simply sign in to your account, go to Lending Offers and select Auto Lend from the dropdown. Then just follow the instructions onscreen.

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