which house to buy

[Savysally]

My DH and I have are about to close on a investment property abroad.

(It has taken 6 months to get to this point of closing)
The funds for this consist of 38k from savings and 38k to be raised through UK credit cards.
We has now decided a few weeks ago that we should also buy a new house here in the UK. The problem however is -

Mortgage providers in the UK will see that we owe 38K on credit cards (once offshore property is closed) and this will lead to refusal of mortgage. Suggestions being bounced around include -

Approaching a relative for a quantity of the money for offshore investment (to minimise the amount that appears as a credit card loan)

Really desperate for advise as we really want out new UK home but don't want to loose out on our offshore investment.

Maybe buy what you can afford

It's really not a wise investment if you are paying for it on credit cards. You can't afford it, put bluntly. I wouldn't be able to sleep at night with credit card debts that large. How are you going to afford the repayments?

We have a repayment schedule in place to clear the credit cards in a year( they are all % interest rate for a year).

they will just take the monthly repayment into consideration then. Not a problem if all affordable

When most people buy a house, they don't "just decide" they are going to buy a house, and then complete on a house a few weeks later.
If you've just made a decision to buy a house, then you start planning for it.
In your (rather unusual) case, surely you just build into that planning, the fact that you are not expecting to complete on that until you can prove your plan of o% interest credit card debt is being paid off by your "plan in place", and that it wouldn't be a risk for a mortgage lender to offer you a mortgage.
Use the time to look around, consider what you like / don't like, save for deposit and costs (though not sure how, if you are paying off £££ on credit cards) , and be all ready to move when you can afford it.

You clearly can’t afford it so why do it?!

I put in 6 months of online research before we bought our house. I think research is a vital component to a house purchase.

I would complete on the the overseas property first and then look for a home after ( just before) you clear your credit card debt.takes at least 3 months to buy a house in the UK and you can declare that your credit card debt ( it won’t be very much by then) will be cleared by the time of completion ( which becomes a condition of the mortgage).

If you can clear 38k of debt ( and have that sot of credit limit) in one year you can clearly afford this and are in a much better financial position than most people buying a house.