What cant the handbrake cable from the caliper touch, mine is touching the lower wishbone pivot tube and the bottom of the hub carrier.

Its on disc and I plan on using a "p" clip to secure on the hub carrier but it will still be touching the lower wishbone pivot tube.

Will this be ok??

anything !!!!

chaffing !!!!

It is perfectly ok for the cable to touch anything but just make sure it is secured using a P clip Be careful that it is not restricted by suspension movement though.