Zopa Loans Reviews & Break Down 2022

Borrowing / Bad Credit Loans
Zopa Loans Reviews
Zopa Loans

Do you have an outstanding loan with Zopa Loans? Or are you considering taking on out? If you are looking for information Zopa Loans, this guide may help you provide the information you’re looking for. We’ve compiled in-depth information about Zopa and their loans.

Who are Zopa Loans?

Zopa Loans offers for UK customers loans between £1,000 and £25,000. They have been in business for more than 14 years and work on a peer-to-peer lending principal. They offer a repayment period of up to five years.

What are the key features of a Zopa loan?

It’s important to analyse the key features of a loan carefully before you commit. Here are the key details of a Zopa Loan, broken down:


Minimum APR: 15.40%

The APR for the loan is advertised at 15.40%. This is a best case scenario. Depending on your individual circumstances, the APR could go up.

Loan Amount and Repayment Period

You can borrow between £1000 and £25,000.

The loan repayment period can be between 1 – 5 years. 


Here’s the representative example that they give on their website:

  • Representative APR: 15.4% APR
  • Loan amount: £10,000
  • Interest rate: 15.4% (fixed) p.a.
  • Term: 60 months
  • Monthly repayments: £234.99
  • Total amount repayable: £14,099.54
  • Total cost: £4,099.54


There are no fees involved with this loan.

Information correct as of 01/04/21 (Zopa)

Zopa Loan Website Review

Application Process

We’ve outlined how the application process works for a Zopa loan below.

How do I apply for a Zopa loan?

You can apply for a Zopa loan online. The application process is advertised as taking 3 minutes. If you are approved, you could receive the money within 2 hours.

Zopa Loans Personal Loan Review

Will I be accepted for a Zopa loan?

Zopa will assess you based on certain criteria. See if you qualify:

  • Age: 20+
  • Residency: UK resident for 1+ years (address history required)
  • Income: You must have a minimum annual income of £12,000
  • Insolvency: You must have a good credit history

Information correct as of 01/04/21 (Zopa)

Zopa reviews

It’s important to see how other customers have rated their experience with Zopa. Take a look at their up-to-date reviews on Trustpilot.

Trustpilot review

Information correct as of 14/06/21 (Trustpilot)

How to complain about Zopa Loans?

Should you need to make a complaint about Zopa, then you can use the details below to either write to them, email them or call them.

Caroline Mills
1st Floor
Cottons Centre
Tooley Street

If Zopa Loans does not respond to your complaint then you should contact the Financial Ombudsman Service. They might be able to handle your complaint.

Information correct as of 01/04/21 (FCA)

Zopa Loans and the new laws

There have been lending laws introduced by the Financial Conduct Authority in recent years. Prior to the new laws being brought into force, the lending industry was worth over £2 billion. We’ll go through the new laws below.

Law #1: the loan must have been affordable

The Financial conduct Authority regulates lenders in the UK and they made it clear that a lender must never allow the you to sign an agreement before they have carried out an assessment on whether you are able to afford the repayments.

The law also states that the repayments should be “sustainable”. This means that if borrowers are making repayments on time, they must also be in a position to meet their other important commitments, including rent/mortgage, food etc. They should not need to borrow more money in order to make repayments.

In short, the repayments of the loan must have been affordable when you give regard to other expenses, including rent, bills, food and car.

Law #2: interest and charges – know your limits

The Financial Conduct Authority decided to introduce a price cap, which was designed to protect borrowers from facing excessive charges. These include:

  • A cost cap of 0.8% per day on the amount of money you have borrowed – interest and fees charged are included in this
  • A cap on default fees of £15 – after a default has been charged, interest can also be added, but it must not be more than the original rate of 0.8% per day.
  • A complete cost cap of 100% – you should not be asked to repay over100% of the amount of money you have borrowed.

The limits are relevant to all credit agreements with an interest rate of 100% or more and that will either be fully or substantially repaid within a year.

There are other laws which came into force in May 2017. According to this, lenders should offer details of their products on a price comparison website, which should be authorised by the FCA. Borrowers must also be offered a summary of the total cost of borrowing.

Law #3: continuous payment authority and what you need to know

Most loan companies will ask that you repay the debt with a Continuous Payment Authority (CPA). A CPA provides the company with the right to take money from your account, as and when they wish, in order to take care of the debt.

There are now new regulations relating to the CPA, which mean that if it fails to be paid twice, the lender must not make any further requests to your bank account to debit the money.

There are relating to the amount of money they are permitted to take using a CPA. They no longer have the right to take partial payments. If you have insufficient funds in your account to cover the full value of the payment which is due, they must not take anything. Unless you agree that they can take a partial payment, they must not try. You can give them permission though, if you are happy for them to do so.

Company information:

Zopa Loan is registered at Companies House. The following details can be found from their company listing and their website:

Date of incorporation: 4 August 2004
Company status: Active
Company number: 05197592
Company type: Private limited Company
Address: 1st Floor Cottons Centre, 47-49 Tooley Street, London, England, SE1 2QG
Opening Hours:
Monday to Friday 8 A.M – 8 P.M
Saturday-Sunday 9 A.M – 5:30 P.M
Phone number: +442075806060

Information correct as of 01/04/21 (Companies House)

FCA registration:

The Financial Conduct Authority (FCA) is the conduct regulator for financial services firms and financial markets in the UK. 

FCA regulated: Yes
FCA status: Authorised
FCA reference number: 718925
Place of Business:
1st Floor
Cottons Centre
Tooley Street
Trading names: Zopa

Information correct as of 01/04/21 (FCA)

Data protection registration:

Data protection registration means that this company is registered with ICO, the UK’s independent authority set up to uphold information rights in the public interest. The privacy of your data will be protected.

Registration No: Z8797078
Data controller: Zopa Limited
1st Floor
Cottons Centre
47-49 Tooley Street

Information correct as of 01/04/21 (ICO register)

Where are Zopa located?

Zopa are based in London. But where, exactly? To get a more specific idea of where Zopa are located, take a look at their office location on a map here.


CONC 2.1 Application

CONC 5.2A Creditworthiness assessment

CONC 13.1 Application


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  • Affordable repayments
  • Reduce pressure from people you owe
  • Stop interest and charges from soaring