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

pumpkin30

i know 2 professional gamblers who would laugh at the thought of having to get a mortage
rent for 4 years if partner hasnt won enough from gambling in that time to buy a place outright he is kidding himself (living the dream)
hope he has a large fiqure behind him as both people i know who do make it pay have lost up to 40k in the same day but have enough money behind them to take the hit

best of luck its a hard game to earn a living at

One_Day_Rodney

'Professional' gamblers do not seem to pay tax unless they earn money from 3rd party activities e.g. writing books, giving lessons etc.
This is definitive on the HMRC website...

Starting here ...
http://www.hmrc.gov.uk/manuals/bimmanual/BIM22015.htm

'Professional gambler'
http://www.hmrc.gov.uk/manuals/bimmanual/BIM22017.htm

FiatDino

Came across this thread as I'm in a similar position. I'm looking for finance against a house, but am going to have a tough time proving income.

But I just wanted to make a quick and simple point here regarding mortgages (and lending in general). Even if someone has £5m cash to their name, and he/she wants to buy a £1m house, it is perfectly plausible that they may want to use a mortgage to fund the majority of the cost. Why? Because whatever he/she does (whether it is gambling or what have you) - they figure that they can produce a greater return by retaining control over the cash - ie. their gambling/trading etc. is making 15-20% a year on the existing capital, whereas it will only cost them 5% to borrow against the house ....

ps. while we are on the subject, does anyone know about fast tracking a Woolwich mortgage ?

_Andy_

If you don't have proof of income then a fast-track product isn't suitable.
Additionally, if the income is derived from gambling then it would be a straight decline anyway.