Ftb advice for new build mortgage

Benar3

Hello all
First time posting but avid lurker on the forum. I am looking for advice on my situation.
I am looking at buying a new build property, not yet built but will probably be released for sale off plan in coming few months possibly towards end of year.
House I am looking at £165k
My earnings are£28800 on top of this I also get overtime which varys from £100 to £300 per month.
Credit card balance £4500 @ 18.9%
Credit card balance £6500 @ 16.9%
I have 2 late credit card payment from about 2 years ago.
Savings are £4000 in Lisa so £5000 Inc bonus
I have another £4000 built up in current account which I can put into Lisa to give me a total of £10000.
I live with my girlfriend and just sort of share bills and give her money as and when so rent not in my name nor any of the bills, however I am on the electoral roll. Mortgage is for me only.

Looking at the above would I have any chance of a mortgage with or without HTB??
Would I be better off saving more or paying more off CC??
Any help pointing me in right direction would be appreciated.

dimbo61

Well £11,000 debt and only £8,000 in savings is not a good start.
On your own when buying and £28K income make it harder.
Pay down as much debt as possible while also saving £333 each month in the LISA.

Let_Us_See

I believe you are going to struggle at £165k on overall affordability, plus a debt to income ratio of just over 38% isn't going to help!!!

rosieflowers

Have you considered buying jointly with your girlfriend?

Benar3

My girlfriend isn't in a position to buy a property unfortunately.
With the new builds only being released for sale towards end of the year I was thinking I could go down the help to buy route.
I am looking at living off beans on toast til then
With what I have saved I would be over 5% deposit and cut my debt in half if not more.
Or scenario 2, would be to get to a 10% deposit still have the option of help to buy.....and just put every spare £ to to the credit card.

grumiofoundation

With 5% deposit and 20% HTB loan you are looking to borrow nearly 4.5 times your salary. Would think this would be a stretch. Would focus on paying off the debt. And the longer you pay into LISA the more free money you get!

gaz_moose

try and pick up a second job or something and just graft / save like a mad man and pay down your debts / build up some deposit.