What type of credit search does Zopa carry out?

When making a loan application, you give Zopa permission to access your credit records at one or more of the UK's credit bureaux (e.g. Equifax, Call Credit, Experian).
Initially Zopa check your credit history by requesting a Quotation Search. This type of search is visible to you and other lenders but does not affect your credit score.
The only time that your credit score will be affected is when you submit an application to Zopa. In this instance, a Credit Application search is made and this search is visible to other credit providers in the country. This is the same as a Credit Application search made via any bank, as all companies accessing credit records on behalf of individuals must subscribe to a standard set of rules and procedures laid down by SCOR (the Standing Committee on Reciprocity). If you make all your repayments on time for your Zopa loan, any impact on your credit score will be positive.

Last Updated: 1 October 2013, 11:14am
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