Broker Woes and First Time Buyer

InstaPerplexion

Hello,

I am a first time buyer, and I should have been more weary or checked a few guides before following up advice from my broker.

Sent my broker all of the numbers of my employment, overtime and debts and was quoted to being able to easily borrow £250,000 for my first home.

Spent a good few weeks, looking for homes and checking things out until I did my decision in principle last week, only to be informed that I can only borrow £150,000.

I only feel like that was such a massive waste of time, hoping that the broker wouldn't give me X amount of figure in order to go and spend time looking for houses.

I didn't realise that £5,000 on a loan and £9,000 on credit cards would be such a detriment, (including my student loans) to my mortgage application.

Currently salary of £52,000 (£10,000) in overtime.

Any advice on how I should go about the loan or credit cards? Should I consider consolidating them first and completely paying them off before doing another DIP?

I was also informed that I was ineligible for a 5% deposit, that I would need to put 15% (my credit scoring is not excellent, but fairly good) and I have not missed any payments or anything.

Looking for some advice for a fellow noobie please.

ACG

Try another broker. If you do not have bad credit then I suspect you can get away with a 10% deposit (5% may be difficult). 
But that probably does not help you on the affordability front. £15k on your income is not too bad, but it depends on what your repayments are. To miss those commitments off, sounds like it was your mistake rather than the brokers? I can imagine the broker is probably making a post somewhere saying "Customer woes". 

I doubt you are going to get back to £250k with a 5% deposit from what you have said, but you may be able to do better than £150k with a 15% deposit. 

Caracal

Just to add to the above, I really don't see that consolation would help you in any way. It won't have an impact on your affordability. 

I'd try another broker and get a DIP before you go looking for any more property. 

Cheese1990

Tbh I should imagine 150k is close to your max borrowing whilst carrying 15k of debt as not only will they be stress testing the mortgage but also the finance.

Redwino222

Did you tell the broker about your debts?  £9k in credit card Debt is a lot.