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The volatility seen across the stock market recently is not something we expect to see replicated to the same extent in our investment performance. At Zopa, the rate of return can vary based on the macroeconomic environment, but these changes have historically been a lot less volatile than the stock market.
This stability is because our rates of return are not directly bound to market sentiment. We offer investors a portfolio of personal loans over fixed terms. This point of difference is how we’ve been able to deliver positive returns through both downturns and upturns.
As a responsible lender, we constantly monitor external factors for any impact on our customers’ ability to repay their loans. In recent months, we had already been through two rounds of targeted tightening on who we lend to. We have since made additional changes to our credit policy to further protect you.
We will continue to monitor key indicators closely and are set up to react quickly and make changes to our lending approach as and when we need to. We have a proud track record of providing stable, inflation-beating returns and have weathered changes in the market, regulatory environment and consumer behaviours. We will apply this knowledge to what is a fast-changing situation.
Keeping your finances safe
Unfortunately, there have been reports of scams and people trying to take advantage of this situation, so make sure you remain vigilant to keep your finances safe. Check out the FCA’s latest info on how they’re supporting consumers.
And of course, keep doing all the usual good stuff, like keeping your passwords safe and being on the lookout for scammers – we have a handy blog post on this.
We’ll be here to help
If you need us, we’ll be here.
We’re following government guidelines and so Zopa has moved to company-wide home working. We’ve already tested this to make sure we can all do this effectively. Our customer service team are available to help and our goal is to ensure our service isn’t disrupted.
That said, we hope you can understand our phonelines are busier than usual. If you’d rather not wait on hold, you can contact us through live chat in the Zopa app or through the Support page. If you contact us by chat, we’ll reply instantly, or email you to let you know when we have.
In our 15 years we’ve seen a lot, including the 2007/8 recession. While this is an unexpected situation for everyone, we believe we have the experience, the tech and the people to adapt quickly and make the changes we need to continue to serve our customers through this uncertain period.
We’ll keep this page updated as the situation evolves. We ask all our customers to keep following government guidance which can be found here