I came across zopa a month ago when I decided to try something outside the bank as I didnt like the rigid t&c of banks.
Before applying with zopa, checked my credit history with equifax and it all looked fine. No late payments, orrect address details, entry in electrol roll, no CCJ, no defaults, never missed payments ... basically nothing that I can think of which can go against my loan application.
Took couple of quotes on zopa and got one for 7.1 AER and decided to go ahead. After a week of waiting, I was disappointed to get a rejection email. Zopa were not very good at telling me why other than saying to have a look at equifax.
Can any one advise what might have gone against me? I had asked for a loan amount equivalent of 1/7th of my annual salary to buy a car. With my wife also working full time, it would have been really easy for me repay it. If I combine all my accounts, I actually have that amount, but wanted to keep some liquidity, hence decided for a loan.
Also, I have lived in UK for total of 4.5 years - if that affects my application in any way.
Edited by vikramrkin, 04 July 2012 - 21:58.