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Help.....Credit Check Failed for Mortgage Application!

edinburghmortgage
edinburghmortgage Posts: 2 Newbie
in Mortgages & endowments
Hello
Can anyone help. I earn £12,000 per year, own two flats with no mortgage(FLat 1-£100,000 Flat 2 £160,000) and want a small mortgage £15,000-£20,000 to consolidate overdraft and credit card debt. However when I applied for loan my credit check was failed. I dont know why. Is there anyway to get my mortgage?

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Forumite
    Your issue is the debt that you have.

    If your rental income was to dry up you would have issues with repayment.

    Perhaps sell the smaller property if you have no other source of income.
  • GMS
    GMS Posts: 5,392
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Forumite
    Have you got a copy of your credit report?

    If not you should get this and see what is on it.

    Have you any defaults, CCJ's or missed payments?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • edinburghmortgage
    edinburghmortgage Posts: 2 Newbie
    Hi
    no CCJ or missed payments
This discussion has been closed.
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