I'm starting to look into purchasing a home via the shared equity scheme on a new build property. I am very aware that this process is quite intrusive and that the chances of getting a mortgage at the moment are 50:50.

I know I will need to show savings of at least £2.5- 3k- which I don't have. I was planning on extending my personal loan which I have 10 months left to pay and pay off my credit card debts that I've had since doing my MA. I'm not worried about this I definitely will NOT be taking out credit cards again! However I know that this may affect my chances of getting a mortgage.

Would I be best holding off on the loan for now and seeing if I can lend the £3k from my parents until the mortgage application is completed (assuming I get good news!) ?