matched betting and getting a mortgage

saving123

I am thinking about starting matched betting but we will be looking to apply for a new mortgage in about 10 months. Will doing matched betting affect it? If I do it now but only for 6 months will that impact it? Will setting up lots of accounts with betting companies/bookies will that impact my credit rating? thanks

saving123

Anyone know? thanks

ACG

Is it worth the risk?
From a credit score point of view, its unlikely it would get picked up as most only do an ID check when signing up.

However if a lender has any suspicions or doubts, they could request 3, 6 or 12 months bank statements or more if necessary.

There is a risk, albeit probably a slim one.

HappyMJ

saving123 wrote: »

I am thinking about starting matched betting but we will be looking to apply for a new mortgage in about 10 months. Will doing matched betting affect it? If I do it now but only for 6 months will that impact it? Will setting up lots of accounts with betting companies/bookies will that impact my credit rating? thanks

Not at all but there are ways to avoid the bank from knowing what you're doing.

Use Paypal, Neteller and Moneybookers as much as possible.

Set up a new current account with a different bank not the same bank you bank with or any that you might actually consider taking a mortgage with and set this account up for the sole reason of gambling. Do not actually tell the bank that's what you want the account for as they'll refuse. Tell them it's for savings. You won't get a mortgage with this bank so make sure they don't top the mortgage tables.

PBA

If you're thinking of applying for a mortgage definitely don't do any kind of bookmaking transactions through any bank account that your lender might want to see details of. Rightly or wrongly a lender will almost certainly see any kind of betting as a problem and decline the case. Open a separate account and only transfer funds to it in cash.