Need advice on getting loan

[donaldcarter55]

Want to buy a land lot and build a home. We own our current home and the only debt we have is our home mortgage and about £14000 in credit card debt. We want to buy the land first, and then save some money, then get the construction loan to begin building the house. Would it be better to save money for a down payment for the construction or to go ahead and pay off the credit card debt first? My concern is that the interest rates for loans right now are really good and if we pay off the credit card debt first then wait to save more for a down payment; loan rates will be a good bit higher because that will be about a 2-3 year period.

[Sapphire]

Re: Need advice on getting loan

Donald as someone who's been in debt and is now out of it, my advice to you is to pay off your credit card, save up for as much as possible and don't get in debt (apart from a mortgage) to get your home.

Sorry if that sounds too strong, but its just my opinion and wouldn't like to see anyone get in debt.