Debt to Income Ratio

izoomzoom

Hiya

Credit card section directed me here.

DH has an income to debt ratio of 44%. Owes abt £8300 on cards and loans and income is abt £19K.
My income to debt ratio is abt 28%. Owe £1650 on card and my SE income is abt £6K.
Together our income to debt ratio is abt 40%.
We also have a mortgage of £520 per month, plus £120 rent (shared ownership).

Do you think his, or our income to debt ratios are too high to have 'good credit ratings' (have long addresses, 1 late payments 3+ years ago, 1y+ jobs) to apply for the longest 0% deals that are currently around.

I do not want to apply for anything in my name as I am SE.

I am just so worried about being turned down for another application (last one was in Jan and one reason was DH was not on voters roll, though this has been sorted).

izoomzoom

anyone ???

Tixy

I would say that 44% is quite a high debt to income ratio for you OH to be thinking of getting more credit.

What is his credit to income ratio?
What new lending did you want and what would that take his debt to income ratio to?

Generally at the moment it seems potential lenders are not willing to go much above a 50% credit to income ratio.

Bloomberg

izoomzoom wrote: »

Hiya

Credit card section directed me here.

DH has an income to debt ratio of 44%. Owes abt £8300 on cards and loans and income is abt £19K.
My income to debt ratio is abt 28%. Owe £1650 on card and my SE income is abt £6K.
Together our income to debt ratio is abt 40%.
We also have a mortgage of £520 per month, plus £120 rent (shared ownership).

Do you think his, or our income to debt ratios are too high to have 'good credit ratings' (have long addresses, 1 late payments 3+ years ago, 1y+ jobs) to apply for the longest 0% deals that are currently around.

I do not want to apply for anything in my name as I am SE.

I am just so worried about being turned down for another application (last one was in Jan and one reason was DH was not on voters roll, though this has been sorted).

First of all what are SE and DH?. People were probably unsure what you were on about, hence the lack of response

jabba4

SE = self employed ?
DH = hubby

I think. My missus used to use all thes acronyms years ago.

Tixy

SE = self employed
DH = Dearest Husband/Darling Husband

both pretty common abbreviations on this board.