Zopa

catkins

Hi, I am looking for a loan and Zopa seems to be the best option. Does anyone know how strict their criteria is? I have a pretty good credit rating but I do have a CCJ for £200. Are they likely to accept me?

amersall

catkins wrote: »

Hi, I am looking for a loan and Zopa seems to be the best option. Does anyone know how strict their criteria is? I have a pretty good credit rating but I do have a CCJ for £200. Are they likely to accept me?

sorry no i have just looked on there website.(just put zopa in your browser) you have to have a good credit score and not have missed on anything else

Gorgeous_George

Hi catkins

I've recently started lending at Zopa and whole set-up looks pretty good.

Some applicants are turned down by Zopa but then apply via 'listings'. In the listings, you suggest a rate for yourself and give a little detail about yourself and the purpose of the loan. Then, lenders make offers of various amounts and at various rates. Once the listing closes, the cheapest offers are collated and make up your offer and the interest rate. If you like the offer, you accept. If not, you decline. To me i it seems like a smart way of doing things.

If you decide to apply to be a member, check out the referrals board where I and others offer £40 to the borrower from a tell a friend scheme that offers £50. (link)

Good luck.

GG

Pssst

Surely even the best A rating interest rate can be bettered on the high street?

Gorgeous_George

Possibly. However, many High Stret lenders are severely rationing their loans. Zopa cuts out the banks and that has to be a good thing.

GG