I am hoping to buy my first house, but I already have several credit card debts as well as a Student Loan. Could I consolidate those loans into a mortgage – or is that frowned upon by the Financial Institutions these days?

It is more than likely that any successful application for a mortgage will require you to repay your existing loans out of the monies advanced. By reducing your debts the mortgage company will be more confident that you can afford to make the mortgage repayments as your other loans will have been discharged.

The question will be, of course, whether or not you are able to borrow sufficient funds to cover both the purchase of the property and the repayment of your existing loans, which will inevitably mean that you will need to find at least 10% of the purchase price by way of deposit.

If you are able to consolidate your existing loans in this way then your overall borrowing will inevitably be cheaper.