Please help! Mortgage with outstanding debt

Rosesara

Good evening everyone 

Anyone know if this is a possibility?
Joint income approx 65k.
10k in credit card debts (my name). Was even more but I've paid of alot and never missed a payment. 
One dependant and zero child care costs (yay!)
Looking to buy for 350k
Currently have about £140k equity.
Would be looking to put at least 25% deposit down so 88k, possibly more.
I did think that we could use some of the excess equity to pay off the cards on completion or could I carry the debt across?

I am worried this 10k will stop us being able to move at all.

Thank you in advance to anyone who has any insight to offer.

K_S

Based on the limited info in your post, the presence/absence of 10k CC debt is unlikely to impact your chances of borrowing 262k at 75% LTV.

Have a play around with a couple of lender calculators to see what impact the 10k cc debt has on your max borrowing.
https://www.halifax-intermediaries.co.uk/tools_and_calculators/mortgage_affordability_calculator/default.aspx

Rosesara

Thank you for your reply that it really helpful.
I earn 21k and the credit cards are all in my name. 
My husband earns 34k but is contracted as part of his role to do extra hours every month so his total income last year was 44k.
I have never struggled to make the payments and usually over pay. It's just a hangover from continuing to spend as I always did when I took a huge pay cut after having our child. I've certainly learnt my lesson and will be glad to shot of them. 
The Halifax calculator says we could borrow 266k with the 10k which seeks to good to be true! 

Thanks again. X

K_S

@rosesara The only note of caution I would sound on the max borrowing figure is the income from the "extra hours". The details of that will determine how much of it will be considered for affordability. So the 10k cc debt could well come into play as a limiting factor. My opinion in the post above was based on the assumption that 65k is all basic.

Rosesara

OK I see. Thank you. 
Fingers crossed it will work out. I did put the 10k I as over time into the Halifax calculator and it came up with the figure of 266k.
I'd be happy to clear the 10k on completion with some of equity...

Alot to consider... 

Thanks again