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Im certainly not trolling ...since my score has dropped from excellent a lot of the avenues have been taken from me....so the SCORE must have an impact...
The £25000 short term debt is because I renovated the property to double its value...and its strangling me!!
It may be true to say that whatever has caused your score to drop has also caused lenders to consider you a higher risk and decide not to lend to you.
As a general guide people start to find it difficult to get more credit if the owe more than 50% of their salary. Compared to your income your debts are high. Lenders would likely be concerned about your ability to service your existing debt and any new debt you are applying for.
A smile enriches those who receive without making poorer those who give
Im certainly not trolling ...since my score has dropped from excellent a lot of the avenues have been taken from me....so the SCORE must have an impact...
The £25000 short term debt is because I renovated the property to double its value...and its strangling me!!
So you earn £35k and have a debt of £25k, i.e. your debt to salary ratio is over 70% of what you earn. That's a big red flag to a lender when they assess your application.
