Earlier this week, peer-to-peer lending platform Zopa announced it has teamed up with Airbnb as a way to help UK customers pay back their home loans. The lender revealed borrowers just need to sign up to become an Airbnb host through a link on their Zopa dashboard. If they earn £500 from Airbnb within six months, they will receive £50 off their loan and if they earn £1,000 from Airbnb, they will receive £100 off.
Sharing details about the new partnership, Zopa’s stated:
“Zopa has already helped over 54,000 people finance their home improvements, and this new promotion encourages borrowers to take the next step by unlocking their rental potential through Airbnb. The partnership lets customers combine the benefits of a Zopa loan with the income-earning potential of Airbnb. Zopa loans have no early repayment fees, a short online application form and customers can get a personalised quote without affecting their credit score.”
James McClure, General Manager Northern Europe also noted:
“Airbnb helps everyday people across the globe earn a little extra income – money that can help pay their bills or improve their general standard of living. Home improvement is something that many of our hosts prioritise because of the healthy cash-cycle that it encourages.”
He then added:
“Well designed, comfortable listings are more likely to get good reviews and if a room looks good on its listing page, it’s more likely to stand-out next to its competitors. This all leads to a steady flow of guest enquiries, bookings and in turn more income for more improvements, which can trigger the cycle all over again.”