I’m considering a Zopa loan

Why is there an origination fee?

We know fees aren't popular, but the origination fee helps us cover our costs.

There's more to it than you might expect: from setting up your loan to keeping your payments ticking over month by month.

The origination fee is rolled into your APR (Annual Percentage Rate) along with your fixed annual interest. It's not an extra charge.

Please keep in mind: if you cancel your loan after the 14-day cancellation period, or repay your loan early, the fee is non-refundable.

Facts about fees

Some loan providers charge an origination fee and some charge early repayment fees. Some charge both, or neither.

Sounds complicated? It is. That's why all loan providers have to give an APR, which helps you directly compare the value offered by different loan providers. It tells you what your loan costs overall (as long as you pay back over the planned term).

A loan's APR takes into account any upfront fees, plus the fixed interest (charged yearly).

We know fees aren't popular, but the origination fee helps us cover our costs.

There's more to it than you might expect: from setting up your loan to keeping your payments ticking over month by month.

Last Updated: 15 April 2019, 05:33pm

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