can we move with cc debt

sunshine900

My husband & I have a mortgage on a house worth approx 170,000 with 115,000 left to pay on our mortgage
He earns £35000 overtime & I earn £11000. We have one child together
Between us we have £10k unsecured cc debt & have saved £2000 as we'd really like to move to a bigger house
Do we have a chance of moving & getting a mortgage with our cc debt? We both have excellent credit scores as everything is always paid on time. From reading on here I don't think its advisable for us to transfer the debt to a mortgage but any advice on this would be welcome
tia

BoGoF

What sort of figure are you looking at for this bigger house?

spadoosh

I cant imagine itll cause much of a problem at all.

Look at it as if you where a first time buyer. Offset the debt with your assets (house and savings) and youre walking up to a lender with £47k and a joint income of £46k

Putting it in to the MSE mortgage calculator suggest you can afford a top end price of £207k. The MSE mortgage calculator seems to err on the conservative side of things too so i suspect that top end figure will come out a little higher. Eg halifa suggest theyd give a mortgage of your incomes of up to £223k plus your £47k equity and youre looking at houses up to £270k

spadoosh

To add, you dont add CC debt to mortgage debt because you essentially end up paying the credit card debt over the lifetime of your mortgage making it vastly more expensive that it needs to be. It will lower monthly payments but youll go from say paying £100 per month for 100 months (non interest) (£10k) to paying £70 per month for say 250 months. (17.5k) Therse are arbitiary numbers but it more or less always works along those lines.

sunshine900

That's really helpful, thank you

We were looking at houses around the 225,000 mark.