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Mortgage possible for professional gambler?
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Renwaldo
Posts: 15 Forumite
Hi all,
My friend (30yo) is looking to get a mortgage for a property in South London, probably a flat because of budget but he'd prefer a house. He's a professional poker player, has played for around 8 years now and makes a good 6 figures every year. He's currently renting but has got to the time where he thinks he's going to settle down and permanently live in London and the rent he's been paying is now a drain (£2.5k a month average)
Looking to spend around £600k, and could probably do a 25% deposit no problem but would struggle to do more as he needs to have a decent amount of cash held back for his his job to use as a bankroll. His dad can also act as a guarantor if that would help the situation but he'd prefer to avoid this as it starts to get messy and confusing.
Would there be someone out there willing to provide a mortgage, I know it's very unlikely for him to be able to get this down a usual route but he understands this and is willing to pay a higher interest rate and also put down a solid deposit.
If any advisers out there have dealt with a similar situation or have any input, please let me know and I'll pass it on!
My friend (30yo) is looking to get a mortgage for a property in South London, probably a flat because of budget but he'd prefer a house. He's a professional poker player, has played for around 8 years now and makes a good 6 figures every year. He's currently renting but has got to the time where he thinks he's going to settle down and permanently live in London and the rent he's been paying is now a drain (£2.5k a month average)
Looking to spend around £600k, and could probably do a 25% deposit no problem but would struggle to do more as he needs to have a decent amount of cash held back for his his job to use as a bankroll. His dad can also act as a guarantor if that would help the situation but he'd prefer to avoid this as it starts to get messy and confusing.
Would there be someone out there willing to provide a mortgage, I know it's very unlikely for him to be able to get this down a usual route but he understands this and is willing to pay a higher interest rate and also put down a solid deposit.
If any advisers out there have dealt with a similar situation or have any input, please let me know and I'll pass it on!
0
Comments
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Yes, we have done a case for a professional poker player in recent years.
Each case will be on it's own merit.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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