Zopa UK said it will introduce 'Young Markets' (Young36 and Young60) specifically for borrowers aged 20 to 25. The need for this arises from the fact that currently many applications are turned down – not because the borrowers have any negative marks on their credit history – rather they don't have sufficient history of debt.
Zopa will still check borrowers in this age group (identity, fraud, affordability, adress and employment). As long as they have no history of bad debt they will be approved for borrowing on the Young Market.
The new young market segment will allow Zopa to advertise the service focussed on young borrowers, which are internet savvy and open to the p2p lending concept.