My about to be strange situation as a Professional Poker Player seeking a mortgage

RecoveringAlcoholic

A friend of mine runs a Gamblers Anonymous group.

Some folks do lose very substantial amounts, including their houses.

ixwood

The "Up your income (maybe)" board!

Jas0nP

It's up

http://forums.moneysavingexpert.com/showthread.html?p=22576909

Josh1984

Jas0nP wrote: »

It's up

link removed

Did this get deleted? Shame.

samnorris2

Kavanne wrote: »

Keep saving up for another year or two and buy outright!!

And by this time next year, house prices will have fallen more and you'll be able to get a bigger pad for the money you would today!

Jas0nP

yea, it seems like it got nuked. why would it?

jamespir

couldnt you use the 100k you have for a place or use it as collateral for the mortgagte

lieutenant_dan

the question that springs to mind for me here is why would you want to saddle yourself with the interest etc on a mortgage (even if you do put down a large deposit) over 15/25 years when at your current rate of success you could buy a house outright within five years? Rent somewhere decent in the meantime and just think you don't have to have the burden of a mortgage at all really.

Wutang_2

whitedan2001 wrote: »

I also have a large income from poker but also work a (semi) full time job as a self employed musician. having just applied for a mortgage my poker earnings were of no use what so ever when calculating what I could borrow.

Just like my scenario - I play poker all day and usually win about 15 cents a week (whilst breaking about 4 laptops a month in frustration) and also bring in further income from playing the sax...on a yacht

If anyone wants to PM me regarding the sax or playing sit-n-go's really badly - don't bother.

_Andy_

lieutenant_dan wrote: »

the question that springs to mind for me here is why would you want to saddle yourself with the interest etc on a mortgage (even if you do put down a large deposit) over 15/25 years when at your current rate of success you could buy a house outright within five years? Rent somewhere decent in the meantime and just think you don't have to have the burden of a mortgage at all really.

Why drag up a thread from June?