After maybe 2 years of owning oblivion for Xbox It started to do this funny thing. Whenever I load a character or make a new one the game takes ridiculous amounts of time to load. Opening inventory takes about 5 seconds and I get occasional times were everything freezes. I dont know if it hast to do with all my DLC (everything but horse armor)

Is there a solution to this?

Try clearing the game cache. I think pressing A while the system is coming up??