Why was my loan application declined?

Sorry we couldn’t offer you a loan. For security reasons, we can’t tell you exactly why.

There are a few things we look at when we make a decision. Please have a look at the list below, and you might see one or two which could relate to you.

• Your existing level of unsecured debt is high

• There’s not enough information in your credit file

• Your level of disposable income is low

• There’s not enough proof that you’ve managed credit well in the past

• Your credit score is low, according to TransUnion and Equifax

• You've applied for a loan with us in the past 6 months

You can always reapply for a Zopa loan after 6 months. Please keep in mind, you won't be able to apply if you try again sooner than this.

What happens next?

In most cases, if we can't offer you a loan, we’ll tell you at the "get your personalised rates" stage. At this point you've only had a soft credit search (which doesn't affect your credit score).

Of the people we can offer personalised rates, who then decide to apply (which involves a full credit search), we approve 9 in 10 loans. We're working hard to improve that number.

Borrowing Power could help you get a “yes” next time

If you do decide to reapply in the future, our Borrowing Power tool could help you to improve your chances of getting a “yes”. It’s completely free and available through the Zopa app.

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