2 months have passed since we opened our Zopa account and I am pleased to say we have lent out 100% of our £1000 fund.

I haven’t had any problems using Zopa and so far I really like the hands-off automated approach to their system. Below are screenshots from my second month, you can see I gained £3.01 interest from borrowers. I had more fees deducted this month probably because a lot of my loans loans had been accepted.

The first few months are always a bit slower to get the ball rolling because it takes time for your bids to be accepted and then once they have been accepted you have to wait the repayment period (usually 30 days) to see any interest. After 2-3 months you should see your entire fund pot spread out into accepted loans. I’m expecting slightly higher interest next month because of this (fingers crossed) but so far it looks promising to keep on target with the 5.1% rate promise.

Get an extra £50 in your account when you lend £2000 or more.

Sign up to Zopa

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And here is my (very detailed) loan book which documents every loan and is available to download in .csv format which is very handy.