Online Gambling and Mortgage Application

newone599

Thanks Kingstreet, that is effectively what he is going to do, yes

I am braced for the worst and expect to simply have to postpone house move while I clean up my spending until my statements are once again the paragon of virtue that lenders want to see.

kingstreet

I don't agree.

I think he'll/you'll come to a point where it's get the best deal (and wait until that can be achieved) or get an achievable deal to enable you to buy what you want now.

Any decent broker starts off knowing who will do it quickly and efficiently, then tries to improve the rates if they can.

newone599

Thanks, you mean you disagree with my pessimistic statement? If so, great.

I am just concerned that even though my general money management is good (no missed payment on commitments, excellent credit score etc etc) I have not been spending in ways that a lender would look favourably on and will be penalised (as I had not expected to have to produce bank statements - this is my first mortgage since the 2014 regs which I have only just found out about).

Consquently the bank statements are not the neat parade of weekly shops at Aldi and direct debits for £2 a month that a lender might prefer to see. Quite the opposite.

kingstreet

You're falling for the media hype post-MMR.

You've been told to micro-manage your expenditure and eat only baked beans in the three months run up to applying for a mortgage and that is (and has always been) complete nonsense.

There are one or two lenders who analyse every penny of expenditure but they aren't in the broker market as they simply couldn't afford to be. We need reliable affordability calculators and criteria, otherwise we couldn't submit business. We are only supposed to do that when we are 100% certain the application fits the lender's criteria.

That's why as a broker, you secure the nailed-on absolutely 100% cert lender/product and come back to that if you are unable to find a better deal with the same certainty of result. A broker will explain how the process to establish the right deal was reached.

newone599

Kingstreet, I appreciate the time that you have taken to explain that and frankly I think I felt my blood pressure drop a few psi back towards normal.

Thanks

snudge01

For anyone who is interested. My mortgage application went through without a mention of any of the online gambling transactions. Mortgage approved and moved into new house last week.

amnblog

That was my bet.

snudge01

Landofwood wrote: »

Natwest are especially picky about bank account conduct.

If I was a gambling man, I would bet on Natwest rejecting you.

Then you would have lost.

amnblog

snudge01 wrote: »

For anyone who is interested. My mortgage application went through without a mention of any of the online gambling transactions. Mortgage approved and moved into new house last week.

That was my bet

kingstreet

newone599 wrote: »

Kingstreet, I appreciate the time that you have taken to explain that and frankly I think I felt my blood pressure drop a few psi back towards normal.Thanks

Hope you're getting your blood pressure and tyre pressures mixed up!

Isn't it millibars? Now, I may be confusing blood pressure and atmospheric pressure! :eek: