Zopa listings
Zopa listings is a new way
for Zopa members to lend
and borrow money.
Borrowers create profiles
Borrowers write profiles of themselves, explaining why they want to borrow, why people should lend to them and what rate they're looking for.
Zopa verifies
We add in information from their credit file (their credit score, their employment history etc) to give a fuller picture of the borrower.
Lenders pick borrowers
Lenders can then choose whether they want to lend to them. And if they decide they do, they select how much and at what rate.
It's a more engaging, more human way of lending and borrowing.
The advantages
For borrowers, there's no judgement by computers. The rate you get doesn't depend on how many boxes you tick on a bank's spreadsheet - it depends on what other human beings are willing to lend to you at. And you could get a lot better rate because of it.
For lenders, Zopa listings provides ultimate control. You decide who you want to lend to, how much you want to lend, and at what rate. What happens to your money is entirely up to you.