My fiance is a professional gambler, can he get a motgage?

MUMMYTO2BOYS

Post his daily bets and we'll tell you after a month if he should get a mortgage

PasturesNew

Professional gambling should be declared it seems: http://www.taxationweb.co.uk/forum/professional-gambler-income-tax-t1201-20.html

Winnings from gambling as a hobby aren't.

kissjenn

Hi,

there was a similar thread about a professional poker player a couple of months back. He got some interesting replies which may help you.

http://forums.moneysavingexpert.com/showthread.html?t=1752959&highlight=professional+gambler+mortgage

KJ

N1CKC

If you called yourself a "self employed trader" that is the same thing. You could be trading on financial markets, FTSE or energy futures markets for example.

Jacka87

Look at the thread for the proffesional poker player, he got lots of help, unlike the nonsense people are saying on here of just flat out NO!

ne option I would suggest is that you could buy the property with only your income being certified. That is generally allowing a salary multiple of anywhere upto 5 times your salary, if its joint then its only likely to be 3 times the joint salary which might not be that different.

As a proffessional gambler you do have a career, its in the title, gambling is your proffession so it is possible to get mortgages! Tho it must be said some lenders will obviouslly have concerns about salary security, but they will have that about job security for any career considering the current climate. If he has declared his earning etc then this proves his income.

_Andy_

Jacka87 wrote: »

Look at the thread for the proffesional poker player, he got lots of help, unlike the nonsense people are saying on here of just flat out NO!

Yes he did get replies, also stating that he wouldn't be able to get a mortgage using income derived from poker.
How is stating the truth 'nonsense'?

luckyfool

JEWISHPRINCESS wrote: »

The whole point of self certificated morgages is to self certify your income. You don't need proof of income to self certify.

Gambling income is not taxable. Hence lenders will not use it, whether it is self cert or full status.

herbiesjp

JEWISHPRINCESS wrote: »

The whole point of self certificated morgages is to self certify your income. You don't need proof of income to self certify.

This type of mis-information is dangerous.

Lenders reserve the right to ask for whatever they deem necessary to approve a mortgage application - including proof of income.

These checks can also occur once the property has completed

Regular checks do occur, and people get caught out regularly

Also, brokers have to be confident in the application they are putting forward and take steps to verify the the source and amounts of income. If they do not do these checks, they are leaving themselves open to FSA sanctions

So both applicant and broker BEWARE!

Hughesy84

MUMMYTO2BOYS wrote: »

Post his daily bets and we'll tell you after a month if he should get a mortgage

Sounds fair to me too.

What has the pro got on for tomorrow??

Cant he just put down all his winnings and get you a load of 'free' cash from winning more? Therefore not needing a mortgage? :rotfl:

_Andy_

I play the National Lottery each week. I am self-certing my income at £3million for this year (projected).