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Zopa Provides Unsecured Loans for Money-Saving Boiler

By Ashok Rao on 2nd December, 2014 | Read more by this author

Zopa, the world’s oldest peer-to-peer lending company, has created another source of borrowers for investors to lend to. It is now offering unsecured personal loans to Flowgroup customers who purchase its Flow boiler, a money-saving boiler which generates electricity as it heats a home.

FlowGroup customers can now borrow from Zopa to purchase the company’s innovative low-carbon boiler. The boiler generates electricity as it heats a home.

Customers can expect to be paid back the costs of the purchase within five years thanks to lower electricity bills.

FlowGroup now refers all customers to Zopa to help them finance the deal. Repayments are offset by reductions in the customers’ home energy bills from the value of the electricity generated.

Giles Andrews, CEO and co-founder of Zopa, added: “We look forward to making people’s home work harder for them, just like their money can work harder by lending it through Zopa.”

A little more about Zopa

Zopa matches smart borrowers looking for lower-rate loans with lenders looking for higher interest. Since Zopa was founded in 2005, it has arranged more than £670 million in peer-to-peer loans and has been voted Most Trusted Personal Loan Provider in the Moneywise Customer Service Awards for the past five years and Consumer Moneyfacts best overall customer service in 2014. Zopa has over 57,000 active lenders lending between £10 and £1.8 million.

Sources: Zopa

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