Your Borrowing Power is an indication of your eligibility for all products listed on the TotallyMoney website. Your Borrowing Power may drop for a few reasons, but this doesn’t necessarily mean that it's because of any changes in your credit profile or that you will not be eligible for a credit product that’s right for you.
Your Borrowing Power can decrease because of:
- Changes in the credit market, such as lenders removing products that you were previously eligible for, or lenders limiting the types of customers that they lend to, will result in a reduction in your Borrowing Power.
- A fall in your credit score has meant your eligibility for credit products offered on the TotallyMoney website has reduced. This in turn means there may be fewer credit products that you are eligible for, and the chances that you will be accepted for credit has fallen.
You should always check how eligible you are for the credit products listed on our website before you apply.