Bank Statements & betting sites

paulharibo11

Hi

I was looking for some advice regarding the bank asking for statements from the last 3 months. I have these but there are quite a few deposits on betting sites. The majority of these are small and balance out with the withdraws. Will this affect the application. I have never been overdrawn and always had the money to cover the bets.

Thanks

Moomum

We sent off our statements and there were some huge betting deposits and withdrawals and didnt make any difference to us

x

Loughton_Monkey

As a general rule, these bank statements are required merely to prove your identity. Although the office staff are free to browse you actual transactions, I suspect that they neither have the time, nor the 'empowerment', to use any such information to affect their decisions. They will be guided almost totally by your credit file and satisfaction of identity - unless you are applying for a mortgage/loan and you are likely to be 'marginal'.

beecher2

Loughton_Monkey wrote: »

As a general rule, these bank statements are required merely to prove your identity. Although the office staff are free to browse you actual transactions, I suspect that they neither have the time, nor the 'empowerment', to use any such information to affect their decisions. They will be guided almost totally by your credit file and satisfaction of identity - unless you are applying for a mortgage/loan and you are likely to be 'marginal'.

Since the OP has posted this on the mortgages forum, he's probably applying for a mortgage. The bank statements won't just be to prove his identity, and will be looked at to check outgoings.

paulharibo11

thats correct it is for a mortgage application. i am a first time buyer as well.

there are about 30 deposits over the last 3 months but they all seem grouped together i.e. 3 and 4 at a time.

i have a good credit rating, steady job, proof of income and never overdrawn or close to it.

hopefully this outweighs the betting

_Andy_

Loughton_Monkey wrote: »

As a general rule, these bank statements are required merely to prove your identity. QUOTE]

That isn't the case - they will be looking for outgoings as well as account behaviour.

[Deleted User]

I'm inclined to agree with Andy. Gambling is increasingly seen as a sign of risky behaviour. It certainly does you no favours with credit cards, either in terms of transaction costs or risk based repricing. If I gambled (which I'll bet you a tenner I don't) I would be looking to hide it from any kind of financial provider.

poormaria

The lender may use this as an outgoing if you regular use this, therefore if you spend £20 a month then they could put this as a £20 outgoings - this is from the horses mouth. The lender will like you staying in credit etc and not going over your overdraft.

Its all to do with sensible lending.