First time buyer - bit of advise please

tessy_t

Hi,

Im after some thoughts on my situation and maybe a bit of advice from those more knowledgeable than me! I earn £18k basic but potential to earn £2k in overtime.(and have done so the last 6 months) I have a mortgage agreed in principal with a broker and have a follow up appt with him at the wknd. I have made an offer on a house for £91k, my broker say's we will discuss how I want to proceed as to whether I will take a 100% mortgage or whether I sell my car and could possibly get a £5k deposit. (I could still get to work without the car so wont affect my earnings)now here is the rubbish bit, I have £1k flexible loan with cahoot and a £1600 credit card bill with egg. I really wanted to pay these off before I got a mortgage, but this opportunity is too good to miss due to location and the house itself has huge potential. Has anyone any advice on how I should proceed? is there anyway I could combine my current debts into the mortgage?and would ideally like to have a couple of thousand left to spend on the house, it just needs superficial modernisation and a good clean! but it is ready to move in other than that.

Grateful for any suggestions.
Thanks

herbiesjp

Sell the car

Use half the proceeds to clear the debt and the rest to do up the house.

It will have to be a 100% mortgage, but at least you will not have put the unsecured debt against your house

Discuss this option with your broker

HTH

tessy_t

Thanks..that does make a lot fo sense