Mortgage help- online gambling

Ccfc88

Me and my girlfriend have applied for a mortgage and everything is goin fine we both have above average credit score.. And have been accepted and now they want to meet face to face and have asked for copy of passport/driving licence. 3 months bank statement ect.. On my debit card I deposit to online gambling sites.. On average the last 3 months I've deposited £400 a month from my account. It's not all for me as wen with friends they give me cash and I put bet on.. Am now very worried they not guna give me mortgage.. Any advice??

macman

Your lender is not interested in what you spend your money on, they are interested in proof of what your income is, and whether it can support your expenditure. That's all.

GMS

Which lender is it you are going with? Have you ever gone overdrawn or over overdraft? What loan to value?

Ccfc88

GMS wrote: »

Which lender is it you are going with? Have you ever gone overdrawn or over overdraft? What loan to value?

It's new homes.. Thru barret homes. Never had an overdraft. I think I've bin overdrawn for a day before as my wages go into different bank so transferred as soon as I seen it.. House is £168.950. 75% mortgage.. 20% government scheme and 5% deposit

Simon_gloster

It shouldn't flag issues if its still well affordable, if your tight in income it may sway an underwriters decision.

£50 per month generally isn't frowned upon, £400 whether or not yours is a different story.

Ccfc88

So is what macman said not true??? And when the guy comes to c me will he mention about the online gambling.. It doesn't say it's for gambling but I suppose he will no.. Worried now.. The other half will kill me

Thrugelmir

Ccfc88 wrote: »

On average the last 3 months I've deposited £400 a month from my account. It's not all for me as wen with friends they give me cash and I put bet on..

Presumably when your friends give you the cash back you pay into your bank account?

Also the winnings are credited back into your bank account?

A lender may feel that you aren't financially disciplined enough to manage a mortgage. As that's £400 per month you could be saving.

Simon_gloster

Whether or not it says Paddy Power or not a regular outgoing will need explaining if asked. It is untrue that they are not interested in spending patterns.

Your case may fly through no questions asked, but then again if randomly audited or mandatory underwritten they Will be interested in what you spend on.

dunstonh

Back in my mortgage lending days we were very wary of gamblers and transactions on the account did indeed potentially hit lending decisions. Normally, if you were within criteria it wouldnt be an issue. However, if you were pushing limits, it would work against you.

Ccfc88

Thrugelmir wrote: »

Presumably when your friends give you the cash back you pay into your bank account?

Also the winnings are credited back into your bank account?

A lender may feel that you aren't financially disciplined enough to manage a mortgage. As that's £400 per month you could be saving.

When my friends give me cash I keep it.. Stoped it as soon as Someone said cud affect me.. Had no idea

Yes winnings are credited back.. Over the 3 months had £900 back so average £300 a month loss.

Ccfc88

Ccfc88 wrote: »

When my friends give me cash I keep it.. Stoped it as soon as Someone said cud affect me.. Had no idea

Yes winnings are credited back.. Over the 3 months had £900 back so average £300 a month loss.

£100 pound a month loss