Zopa Loan - Mortgage

Cashmygiro Forumite Posts: 27
10 Posts
Last year I took out a Zopa Loan for £14,000 over 5 years but 6 months after I settled it early. Are Zopa Loans classed as sub-prime?

I also took out HP on a car for 5 years which I am still paying back.

I want to apply for a mortgage soon, will the loan and HP on my credit files have a negative part in a mortgage company accepting me?


  • MorningcoffeeIV
    MorningcoffeeIV Forumite Posts: 1,292
    1,000 Posts Name Dropper
    It doesn't matter whether a lender is sub prime as no one will see the name of the lender.

    Existing debts will count against your affordability.
  • CliveOfIndia
    CliveOfIndia Forumite Posts: 779
    500 Posts Name Dropper
    As per the previous post, the HP will be taken into account when they run their affordability calculations.  But on the flip side, a record of meeting your repayment obligations (on both the HP and the old loan), presumably on time every month with no missed or late payments (?) will have put some nice green positive ticks on your credit history - which is also an important factor that's taken into account by any lender.
  • Fighter1986
    Fighter1986 Forumite Posts: 834
    500 Posts Third Anniversary Name Dropper
    The mortgage lender is only concerned about your monthly payments for loans and HP, and your actual outstanding credit card balances.

    They don't care who lent to you in the past (they can't even see this, only the type of account you had, how much for, and whether you paid on time each month)
  • Cashmygiro
    Cashmygiro Forumite Posts: 27
    10 Posts
    Thanks all.
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