lump sum payment to PCP to improve credit rating?

[bcadou]

Hello

I owe approximately 50k on a PCP contract (25k to be paid over 4 years + 25k baloon).

I am in the process of buying a new house, so I am checking my credit score to get the best mortgage possible. My score took a big dent since I took this PCP deal in December 2020. According to my credit report, the only negative factor is this 50k debt I have.

If I make a lump sum payment of 10k or 25k for example, should my credit score noticeably improve?

thank you

Ben

[bcadou]

Oh wow ok thanks guys.

Btw, what does “sarnies” mean? I googled and only found “sandwiches” as a possible meaning lol

[bcadou]

Thank you, Sir Dave

[bcadou]

thank you all, will get in touch with Sarnie

[bcadou]

Thank you very much