Turned down for a mortgage- please help!!

Sonofapreacherman

I know it's not the end of the world but I'm devastated. I have just been turned down for a mortgage due to high levels of credit card debt.
The debt is £29000, accrued paying for a professional degree (now qualified 5 years and paying it off).
I have £80k of equity in my house so will be paying the debt off with the equity.
I want to borrow £149k on a salary of £41k. I will be putting down a deposit of £51k.
I checked my credit report last month and was rated as good. Around that time I transferred one of my credit cards to another provider. Ive just rechecked my credit report and it has dropped by 100 points to fair. It is showing the credit card I moved as being with both the old and new provider, suggesting I have more debt than I do and that my debt has gone up (when it hasn't).
My broker has today submitted a mortgage application to a different lender with whom I had a decision in principle whilst my credit rating was good.
Does anyone have any idea what my chances are or any tips on what I can do?

Thrugelmir

How the debt was accrued is of no interest to lender. Lenders will detect the fact that you are juggling the debt between cards with balance transfers. The amount of unsecured debt will be a concern. Perhaps tighten your budget for a few months and try and make some inroads to the debt rather than spend money on moving house.