Hello

Ok I have no bad credit history nor any defaults. This is why I am frustrated.

I have owned a house for 6 yrs, on a repayment with one lender.

In Dec last year I moved jobs which needed a quick relocate. So. In march I rented my property out, and took a rental myself. At this time, I did not tell my lender.

I now want to buy a house in my new location while keeping my old one on repayment and renting it, but have failed credit check with two lenders. There is no issue with affordability, and I am applying using my current rental address. I have no debt except mortgage.

So why am I failing? Is it because I have not been in this address 6 mths? Not been in new job long? Not on electoral roll here? Maybe cos my bank accounts are at my old address not this rented one ?

Any help.please?

There should not be any fails like this due to credit if you are sure that you have no adverse credit history. Perhaps its worth going to experian or equifax and get your credit report?

As far as your residential house, you ought to convert it to a buy to let - just a quick phone call to your lender and request 'consent to let' and that makes it all above board.

Address detail shouldnt auto fail you anyway, and if you are going through a broker they will be able to find out why its failing anyway.

Anthony
http://www.comparethemortgagemarket.com