Zoyo Loans - How are they seen by the HSL?

Mortgageafterpdl

Hi everyone,
I'm in a position (like many) where prior commitments are now unmanageable due to a change in income. This could be a mid-term thing and I don't want to find myself in trouble. I am looking to consolidate current credit card debt, to bring down the monthly payments. I am savvy about this and yes I do understand that paying less per month means paying for far longer, but at least I'd be paying my monthly commitment in full and on time. 
Unfortunately I would not be touched by a HSL, as I buried my head in the sand for a short while - short, but long enough to do the damage! By this I mean I have made min payments for many months, and most cards have gone over their limit, so needless to say my score went from excellent to poor in a matter of months. I've found my way out of the depression cloud and need to get myself back on track. 
I already know the likes of Bamboo, Likely Loans etc. are stupidly high interest, and worryingly when we have to remortgage in Dec 2022 these will be seen as a bad loan. Please know I'm trying to think ahead, as we must, and I just want to sort this out in the best way. 
In my search via Experian's eligibility checker, I was presented with one option from a company called Zoyo Loans. The interest rate shows at between 17% and 24%, not ideal, but not 49%+ of the others. Problem is I can't seem to find anything out about them in terms of how they are viewed by HSL's for my future mortgage. 
Can anyone shed any light on this company please?

[Deleted User]

If it's not a PDL, it will show just as any other loan.

[Deleted User]

Don't do consolidation, it never works
Go to the debt free forum and post for help there

[Deleted User]

Mortgageafterpdl said:

Hi everyone,
I'm in a position (like many) where prior commitments are now unmanageable due to a change in income. This could be a mid-term thing and I don't want to find myself in trouble. I am looking to consolidate current credit card debt, to bring down the monthly payments. I am savvy about this and yes I do understand that paying less per month means paying for far longer, but at least I'd be paying my monthly commitment in full and on time. 
Unfortunately I would not be touched by a HSL, as I buried my head in the sand for a short while - short, but long enough to do the damage! By this I mean I have made min payments for many months, and most cards have gone over their limit, so needless to say my score went from excellent to poor in a matter of months. I've found my way out of the depression cloud and need to get myself back on track. 
I already know the likes of Bamboo, Likely Loans etc. are stupidly high interest, and worryingly when we have to remortgage in Dec 2022 these will be seen as a bad loan. Please know I'm trying to think ahead, as we must, and I just want to sort this out in the best way. 
In my search via Experian's eligibility checker, I was presented with one option from a company called Zoyo Loans. The interest rate shows at between 17% and 24%, not ideal, but not 49%+ of the others. Problem is I can't seem to find anything out about them in terms of how they are viewed by HSL's for my future mortgage. 
Can anyone shed any light on this company please?

Did it definitely say Zoyo and not Zopa?  I can't find anything online about Zoyo loans.  I did find something about Zoyo Finance but that appears to be Halal investing.

I'm not sure consolidating is the right answer.  There are other options such as requesting payment holidays due to covid or a debt management plan.  I realise you are thinking about remortgaging in December 2022 but you could just take a mortgage retention product with your existing lender which is very unlikely to require a credit check.

MEM62

Mortgageafterpdl said:

This could be a mid-term thing and I don't want to find myself in trouble. I am looking to consolidate current credit card debt, to bring down the monthly payments. I am savvy about this and yes I do understand that paying less per month means paying for far longer, but at least I'd be paying my monthly commitment in full and on time. 

With respect, getting yourself to the position of needing to consolidate your loans suggests that you may not be a savvy as you think.  It suggests that you have stressed your finances in respect the amount of debt that you carry with no prior consideration as to how you would manage if your income was reduced.  Borrowing may seem all well and good at the time but you always need to consider what your plan B is if things take a turn for the worse.  It is important to consider this point as reflecting on it may well prevent you finding yourself in a similar situation in future.  

Mortgageafterpdl said:

Unfortunately I would not be touched by a HSL, as I buried my head in the sand for a short while - short, but long enough to do the damage! 

If you cannot get the mainstream lenders interested then you are looking at the bub-prime / high interest market.  This is absolutely a flashing light telling you that you need to STOP borrowing.  You cannot borrow your way out of debt and any further borrowing just puts you further down the slippery slope. 
Get over to the DFW board and post up an SOA.  The boys and girls over there will be able to provide you with excellent advice and support for dealing with debt.   Hope you mange to get it sorted.