Mortgage for Professinal spreadbetter

betrader

Hi there

I really need some advice. I have tried some brokers but have had no responses, and one even just hung up mid conversation.

I make my living as a professional spreadbetter. I have done this for 3 yrs full time. i always knew it would be difficult to get a mortgage based on this income as it is not liable for tax (I make money from the sports markets, the government sees my income as "profits from betting" and are therfore non taxable). However, I thought there maybe some lender out there willing to look at my bank/trading account statements, which prove my income is consistant and regular.

I know its a long shot, my wife earns a proper living (!) and we have no kids or debt.

Does anyone know of any lenders that would look at my income and take it into consideration when applying fr a mortgage?

Thanks in advance!!

ACG

Im sure you still need to be filling out self assessments even if no tax is due?
Have you spoken to HMRC to see what they say?
If you do still have to do self assessments then your fine as you can order your SA302s and work off those I would have thought.

Thrugelmir

betrader wrote: »

which prove my income is consistant and regular.

Not guaranteed though. So the future is uncertain.

smnberryman

Thrugelmir wrote: »

Not guaranteed though. So the future is uncertain.

Any less guaranteed than someone with a one month notice period?

Thrugelmir

smnberryman wrote: »

Any less guaranteed than someone with a one month notice period?

Unlikely that someone would be in a position that involves them paying their employer to allow them to work.

Lenders policies are based on risk at a macro level (top down). Not micro (bottom up). As a result lenders are pessimistic. Whereas borrowers are optimistic.

Makkusu

Spread betting is deemed a form of gambling (hence tax free), therefore I doubt they'll consider your 'winnings' as income for a mortgage.

View yourself in the same capacity as a professional poker player...