Mortgage application

tj23020

I am moving house and cannot transfer my very small £25k mortgage to the new house, instead I have to start a new one. I am shopping around for a better deal and they have asked for the last 3 months bank statements. I play online bingo so could I be refused a mortgage based on this activity on my statement? I do not go overdrawn because of this hobby but have a considerable amount of withdrawals (as well as deposits) showing on my statements. The application is joint but my husband does not have any vices or expensive hobbies!

Thrugelmir

What you spend your money on is of no interest to a lender.

Merely that you can afford the mortgage repayments.

opinions4u

I am moving house and cannot transfer my very small £25k mortgage to the new house, instead I have to start a new one.

That would because a mortgage is specific to the property that you own.

Unless you have exceptionally low incomes or an exceptionally low purchase price on the new place, or a poor credit history, I'd be surprised if you had a problem getting a new mortgage.

Some lenders may have a minimum loan criteria that you fall below.

tj23020

Thanks. I've had a couple of great quotes. Only got 6 years left on the mortgage and wanted a like for like mortgage that doesn't increase the amount borrowed or the length of time remaining. Just don't want my 'hobby' to affect the application.

herbiesjp

You should be fine at that level.

You come in just right on the minimum mortgage amount and term.