Guide to Lending. Hello!

Transcription

1 Guide to Lending Hello! Once you ve joined Zopa as a lender, you ll have your own personal account with access to several screens that help you to offer your money to borrowers and keep track of it once you ve lent it out. This guide is an introduction to those screens and each of the widgety bits on them, and we ve included a few how to guides to get you started too. Enjoy!

2 2 Index Orientation: Dashboard Orientation: Account Orientation: Lending Orientation: My Loan Book How to Create a Lending Offer How to Edit an Existing Lending Offer How to Manage Auto Top Up My Loan Book: How to View a Borrower s Repayments My Loan Book: How to View Funds in Processing My Loan Book: How to View Late Repayments My Loan Book: How to See when Repayments are Due

3 3 Orientation: Dashboard The Dashboard is your lending home screen. The Dashboard page consists of three sections as detailed below. As you navigate your way through your lending screens always look out for the help icons and help sections on the left hand screen which will tell everything else that we do not tell you here. On the top you have a summary of up to five of your lending offers. Buttons are provided to 'See All Lending Offers' (which allows you to see all your offers and manage them) and 'Manage Auto Top Up' (where you can turn it on and off). MANAGE Your account summary consists of a useful pie chart to show you at a glance the proportions of your money lent out, not offered, offered, processing and suffering late payments. The markets shows you all the ins and outs of the Zopa marketplace. There are 9 tabs with different information, and we suggest you have a little play about you ll be able to find some interesting stats in this section! You can also download a copy of the market data into a Excel file by clicking on 'Get Market Data', and the monthly bad debt update from 'Get Risk Info'.

4 4 Orientation: Account Your Account page consists of an overall summary of where your money is. Remember to click on the help icons to see definitions of each term. This is the summary of where your money is, as displayed on the Dashboard. The All time summary shows the total amount of money that you ve paid into Zopa and the total you ve withdrawn. Credits breaks down any monies earned through interest and bonuses. Similarly, Debits breaks down deductions from your account. At the bottom of the summary are the totals of your lending history. Note that Total lent out may be more than Total money paid in as you may have recycled your capital and/or interest. Capital returned is how much of your money that you ve invested has been paid back to you so far. My statements shows you every transaction that occurs on your account just like a bank statement. It automatically populates with transactions from the past month, and you can download up to twelve months history by selecting the desired month from the drop-down and clicking on Download Statement.

5 5 Orientation: Lending On the Lending Offers screen you can: View details of each of your lending offers Edit existing lending offers Create new lending offers Manage Auto Top Up This is a list of all your current lending offers on the Zopa Market. Up to five of these can also be found on the Dashboard. MANAGE By clicking on Details you can see further details of that lending offer. There are buttons provided to manage the offer; alternatively, you can use the quick edit icons. Note that Withdraw Offer means retiring that offer from the market place completely: funds already lent out on that offer will remain so, but any unmatched funds are returned to your holding account.

6 6 Orientation: My Loan Book My Loan Book is where you can see exactly what is happening to the money you have lent out. The download as CSV button will give you the content of My Loan Book in Excel format. You can decide to view your loans by various different groupings. Payment Status is a useful grouping as this will break down your loans into closed (loans that have now been settled), on time (borrowers who are paying on time) and late (borrowers who are in arrears). To edit the columns that are displayed when you browse, click on Advanced Options where you can customise what information you wish to appear. Information of particular interest may be Expected total repaid which will show you projected profits on each loan.

7 7 How to... Create a Lending Offer To set up a new lending offer: Note that 10 is the minimum amount needed to make a lending offer. You can create a new lending offer without these funds in your account but it will then ask you to transfer in funds before this offer goes active on the market. 1. Go to the 'Lending Offers page. 2. Click on 'Create Lending Offer which will bring up the following screen telling you how much you currently have in your holding account available to lend. 3. Click 'Lend Now'. 4. Choose a name for your new lending offer. 5. Enter the amount you would like to lend out. 6. From the table provided, select which markets you wish to offer in using the tick boxes provided. 7. For each ticked market, select the rate you wish to offer to borrowers. Note that this is not your return. To get a view of the return, subtract the fee and the expected bad debt.. The diagram will show you whether your selected rate is in the ZOPA for that market. 8. You should set the maximum amount of money in multiples of 10 that you re prepared to lend to any one borrower from this lending offer. Note that t if you have multiple l lending offers you may lend to the same borrower from more than one of these offers. To minimise your risk, you should set this figure to 10, and keep a single active offer at any one time. 9. Decide whether you want Auto Top Up active on this offer or not. Note that Auto Top Up can only be active on one offer at any given time. Auto Top Up The review screen will show you the markets and rates you are offering in and also explain your auto lend preference. 10. Read over Zopa s loan conditions and agree to them. 11. Click Next to complete your new lending offer. Having completed your new lending offer you will see it appear on your Lending Offers page. If you do not have enough funds in your holding account to cover the amount offered it will appear highlighted pink as shown here, and the status will invite you to transfer money into your account.

8 8 How to... Edit an Existing Offer Click on Edit Offer option or you can use the quick icons next to your lending offer. The pencil icon the quick edit offer icon. is 1. Go to the 'Lending Offers page. 2. Click on Details under the offer you wish to edit, and then Edit Offer. 3. Edit the name for your lending offer, if you wish. 4. If you wish to add more funds to this existing offer, ensure you have these funds available in your holding account and click on Lend More. If you haven t sufficient funds, use the Transfer Money In function. 5. From the table provided, select which markets you wish to offer in using the tick boxes provided. 6. For each ticked market, select the rate you wish to offer to borrowers. The diagram will show you whether your selected rate is in the ZOPA for that market. 7. You should set the maximum amount of money in multiples of 10 that you re prepared to lend to any one borrower from this lending offer. Note that if you have multiple lending offers you may lend to the same borrower from more than one of these offers. To minimise your risk, you should set this figure to 10, and keep a single active offer at any one time. 8. Click on Confirm. Maximum Exposure Enable Auto Top Up Enable Rapid returns

9 9 How to... Manage Auto Top Up Auto Top Up ensures that any news funds you add to your account and any payments you receive from your borrowers are automatically recycled and reoffered to the market place. Auto Top Up can only be active on one offer at any one time. 1. Go to the 'Lending Offers page. 2. Click on Manage Auto Top Up. MANAGE 3. Use the radio buttons on the left hand side to select the lending offer you want funds to be returned to. Alternatively, if you want funds to accrue in your holding account, for example for use when bidding on Listings, select the I d like it to go in to my holding account button. Auto Top Up 4. Click on Finish to save your changes. These changes will be reflected in your Lending Offers screen. In this example, Auto Top Up was active on Lending 14/05/08 17:02, and has now been turned off. MANAGE

10 10 My Loan Book: How to... View a Borrower s Repayments To look at an individual borrower s repayments (regardless of how you are grouping your Loan Book): 1. Click on the underlined category in the far left hand column (in this example Term ). 2. Click on the underlined borrower s name. A display appears providing details about that borrower along with the repayments they have made.

11 11 My Loan Book: How to... View Funds in Processing 1. Select Borrowing State from the Group loans by drop-down. 2. To see individual loans in each of the states, click on the underlined category in the far left hand column. What do all the terms mean? ContractsUnsigned ContractsSigned Pending The user has not signed the contract. If a temp username is shown, your funds will be released after a hour or so of inactivity; i i if a registered username, the system will automatically release funds after midnight. The application has not yet been submitted to be reviewed by our team. Zopa will release funds if there has been no progress after a few days. The application is being reviewed by our team of underwriters. WithdrawalPendingalPending The loan had been disbursed sed to the borrower o by BACS; your statement will reflect this. Withdrawn Closed Collections Default Arrangement The funds have been received by the borrower. The loan has been fully repaid. CRS are handling the chasing of the borrower s arrears ( this corresponds to the late section on your piechart). A loan that has fallen more than four months in to arrears and has defaulted. The borrower has fallen behind on regular repayments but an arrangement has been made for them to pay a reduced regular amount.

12 12 My Loan Book: How to... View Late Repayments 1. Select Payment Status from the Group loans by drop-down. 2. To see individual loans in each of the statuses, click on the underlined category in the far left hand column. In this case, clicking on Late will show which of your borrowers are behind with their repayments, For further information on this borrower s late repayments you can refer to the Comments field. If you cannot see the Comments field it can be toggled from the Advanced Options button.

13 13 My Loan Book: How to... See when Repayments are Due 1. Select repayment Day from the Group loans by drop-down. Please Note: The borrower repayment date represents the day of the month the borrower has chosen to have funds withdrawn from their account. If this falls on a weekend or bank holiday, the debit occurs on the next working day. It does not reflect the date on which you should expect funds to be paid in to your account. Payments are allocated to you at the end of the next working day after the date of debit. 2 To see individual loans for a given 2. To see individual loans for a given repayment date, click on the underlined category in the far left hand column.