Mortgage application planning advice

propertybuyer2021

Hi

Please be gentle with me as a new member.

1) I am looking to purchase in approx 2 years time and I am after a bit of advice on the best way to manage the application and finances in the hope to make things as smooth as possible.

2) I will be a first time buyer at the age of 50 years on a salary of around 27-28K and would be looking in the region of 120K - 140K purchase price with a 10% deposit. I have allowed £3k for legal and purchase fees on top of the 10% deposit.

3) do currently have a series pay day loans on my credit report but they will disappear by Sep 2020 as they will be over 6 years.

4) Currently I have around 6k owing on 0% credit cards which will be paid off by December 2020. Total available credit on cards and catalogue is £23K.

5)I currently pay for my day to day food and shopping on a credit card and pay this off each month.

The advice I am looking for is:-

2) Is doing the mortgage of 20 years likely to cause a problem. I am aware that I am looking at crystal ball but just trying to get a basic idea.

3) Do I have this correctly understood or will it still cause a problem?

4) When should I reduce my available credit by closing the available credit cards assuming I am buying in March 2021.

5 When should I switch to paying these expenses out of my current account, as believe paying the credit card off each month could affect my affordability.

Thank you for reading my thread and any advice will be appreciated.