Zopa Bank
Challenger BankZopa Bank, originally a pioneer in peer-to-peer lending, transitioned to a fully licensed bank offering residential mortgages alongside savings and credit products. Their technology-driven approach enables competitive pricing and a streamlined digital application process for homebuyers.
About Zopa Bank
Zopa was founded in 2005 as the world's first peer-to-peer lending platform. The company transitioned to a fully licensed bank in 2020, becoming Zopa Bank. Zopa now offers residential mortgages alongside savings and credit products. The bank's technology-driven approach enables competitive pricing and a streamlined digital application process.
Zopa Bank brings its fintech heritage to the mortgage market. The bank has invested in technology to simplify the application process and deliver competitive rates. Zopa serves first-time buyers, home movers, and remortgagers through its digital platform.
Zopa Bank is regulated by the FCA and PRA and holds a full UK banking licence. The bank has grown steadily since gaining its licence and has built a strong presence in the digital lending market.
Lending Focus
Zopa Bank offers mortgage products across 1 categories including Residential.
Key Features
- Digital-first mortgage application with smart technology
- Competitive residential rates up to 90% LTV
- Available direct to consumer and via brokers
- Founded as a fintech pioneer with strong tech DNA
- Streamlined process with quick decisions
Pros & Cons
Pros
- Digital-first approach with smart technology for fast decisions
- Competitive residential rates up to 90% LTV
- Strong fintech heritage — pioneers in alternative finance
- Available direct and through brokers for flexibility
Cons
- –No buy-to-let, bridging, or specialist products
- –Residential only — limited product range
- –No physical branches for face-to-face service
Fees & Charges
- Arrangement Fee
- No arrangement fee on most products
- Valuation Fee
- Free valuation on selected products — otherwise varies by property value
- Early Repayment Charge
- Typically 1–5% depending on product and remaining fixed term
- Overpayment Allowance
- Up to 10% of outstanding balance per year
Mortgage Rates
Rate data coming soon. View rates on Zopa Bank
| Product | Initial Rate | Type | Initial Term | Revert Rate |
|---|---|---|---|---|
| 2 Year Fixed | TBC | Fixed | 24 months | TBC |
| 5 Year Fixed | TBC | Fixed | 60 months | TBC |
| Tracker | TBC | Variable | 24 months | TBC |
Application Process
- Processing Time
- 2–4 weeks from application to offer
- Online DIP
- Yes — available online
- Offer Valid For
- 6 months from date of offer
Lending Criteria
- Maximum LTV
- 90%
Frequently Asked Questions
Is Zopa Bank the same as the old Zopa peer-to-peer lender?
Zopa originated as a peer-to-peer lending platform in 2005 but transitioned to a fully licensed bank, now offering mortgages, savings, and credit products.
Does Zopa Bank offer buy-to-let mortgages?
No, Zopa Bank currently focuses on residential mortgages only and does not offer buy-to-let, bridging, or commercial products.
What is the maximum LTV for a Zopa mortgage?
Zopa Bank offers residential mortgages up to 90% LTV for qualifying applicants.
Can self-employed borrowers apply to Zopa Bank?
Yes, Zopa Bank accepts applications from self-employed borrowers and contractors.
How to Apply
Direct & broker access. Apply directly or via a broker for whole-of-market access. Find a broker
Similar Lenders
View all lenders| Name | Niches | Type | Max LTV |
|---|---|---|---|
| Atom Bank | Residential, Buy-to-Let | Challenger | 90% |
| Molo Finance | Residential, Buy-to-Let | Challenger | 80% |
| Bank of Ireland UK | Residential, Buy-to-Let | Bank | 90% |
| Barclays | Residential, Buy-to-Let, Commercial | Bank | 95% |
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