Not upheld: Irresponsible lending complaint against Lendable Ltd, trading as Zable

Decision detail

Summary

Mrs G complained that Lendable Ltd, trading as Zable, provided her with a £500 credit card irresponsibly in 2025. Zable's checks identified a discrepancy between Mrs G's declared income of £4,500 and verified income of £2,500, but the ombudsman found that even using the lower verified figure, the credit appeared affordable given her existing debt repayments of approximately £1,050 per month. Although the ombudsman acknowledged that Zable's checks were not entirely reasonable and proportionate, it concluded that proper checks would not have revealed the lending to be unfair. The complaint was not upheld, and no remedy was ordered.

The Ombudsman's reasoning

Although Zable's checks were not entirely reasonable and proportionate due to the income discrepancy that should have prompted further investigation, the ombudsman concluded that proportionate checks would likely have revealed an income of around £2,800 per month. With this income level and existing debt repayments of approximately £1,050 per month, the additional £25 monthly payment for the credit card appeared affordable. There was nothing in Mrs G's circumstances to suggest she would be unable to sustainably repay the credit, and the relationship was not unfair under section 140A of the Consumer Credit Act 1974.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website