P2P lender partners with Airbnb

P2P lender partners with Airbnb

Peer-to-peer lender Zopa has partnered with rental marketplace Airbnb to offer discounts on its home-improvement loans.

Borrowers can now sign up to become an Airbnb host through a link on their Zopa dashboard and will receive a £50 discount on their loan if they earn £500 from Airbnb within six months, while customers who earn £1,000 will receive a £100 discount.

The lender hopes that the partnership will help borrowers to make the most of their homes and pay off their loans sooner.

Amy Miller, chief marketing officer at Zopa, said: “This new promotion brings together two services that are re-modelling their respective industries with a people-first approach.

“As more and more people look to rent out their spare rooms on Airbnb to boost their income, we wanted to provide a way of supporting and amplifying these activities and empowering customers to build the home and financial future they are looking for.”

UK Airbnb hosts currently earn on average £2,000 per year by sharing their home for just 46 nights.

From April 2017, hosts will earn a new tax break on the first £1,000 earned through Airbnb.

James McClure, general manager for northern Europe at Airbnb, added: “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.

“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.”

Founded in 2005, Zopa has since helped 54,000 finance their home improvements. 

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