Zopa Small Lenders
Tue, 2005-12-06 12:26 — admin
Zopa's niche in the market is lending small amounts for a low APR. The banks and building society's do not target this market, so Zopa have aimed to fill that gap within the market.
As Zopa's is a new concept it is often misunderstood. If you have a good credit rating their are savings to be made.
Examples
Example 1 - For example based on a loan of £5000* over 36 months a person who has an A-Rated credit rating could get an APR of 4.8%.
Example 2 - For example based on a loan of £1000* over 12 months a person who has an A-Rated credit rating could get an APR of 5.0%.
A person who has a B-Rating credit rating could get an APR of 5.8%
*This APR was quoted using the Zopa loan calculator on the 5th December 2005.
Remember...
The rates at Zopa are chosen by the lenders. If you like the price, borrow the money. Its that simple!
You are borrowing directly from other people
Low rates based on their credit personal credit rating
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