Monthly mortgage payment declaration ?

Insuranceaggrieved

Hi, Id be really grateful for someone who could help me on the below issue, as I'm so conscious about filling in the incorrect info. I have been through a really expensive divorce recently and have had to take on ALOT of the marriage debt.  I have recently moved in to a new property and my credit rating fell from 'Excellent' to 'Poor' literally overnight. My debt is just about manageable but I am starting to pay interest on the end of term cards.  Because of the poor rating (which is starting to increase) I am struggling to qualify for new card rates, but I'm not sure if I am maximising my entitlement correctly. I own a residential property which I rent out and which brings me £1520 per month rent. My B2L mortgage is £1058 per month.  I also pay £603 per month for my personal mortgage.  So, when completing my eligibility calculator for the best balance transfer cards, do I have to disclose both mortgage payments in my application, or just my £603 ? Also, does my annual income count as my PAYE salary, or can I count the £1520 per month as additional income ? Thanks anybody who can help me. :-)

Fighter1986

The business you run of being a landlord NETs you a certain income after expenses like mortgage, maintenance etc.

This is considered part of your income on an application for credit.

Your residential mortgage is a personal expense.

E.g.

Salary £35,000 PA
BTL Mortgage £12,000 PA
Rental income £18,000 PA
Rental Property Maintenance Expenses £1,500 PA
Personal Mortgage £603 PA

Annual Income = £39,500 PA
Monthly Mortgage Payments = £603

See?