can i close an account to hide transactions to get mortgage approval

kellyb1485

Hi guys i hope you can help me please
i have just been accepted for mortgage in principle and now require to send off my details but here is my problem, i had a bad 4 months and decided to go on a bit of a online bingo spree and probably spent about £2000 in the 4 months with alot of £10 transactions - stupidly i didnt think this would be looked at :-( anyway i dont have a problem just thought i would try my chances and turns out yes they are a con!

my situation is the 2 bank accounts i used are my main accounts which my salary get paid into but i also have another account which has an overdraft which i pay off by standing order each month with my main account
i also have a joint account with my husband which we use for bills and both have standing orders from our main accounts to cover the bills

would it be possible for me to close my 2 accounts with the gambling transactions on as i can use my account which has the overdraft on? only problem i can see is it wont show history of salary being paid into it

i hope someone can help me

dgtazzman

I think that could be very risky. The lender will want to see a history of your salary being paid into your account and it sounds like these accounts are current accounts, so they will show on your credit file. Your credit file won't show transactions or balances, but the lender can see you have/had these accounts and might well query why they were closed so recently. If you send all your funds from these accounts to the third account, don't be surprised if they still request statements from the 2 closed accounts showing all the money moving across.

Malmo

Hiding or obfuscating your finances will simply do more harm than good. Lenders aren't stupid and can detect these sort of things.

Thrugelmir

You need to address the issue of the overdraft as well. Declaring this as your main bank account simply draws more attention to the overdraft.

David_White

You're asking for trouble and the consequences of deliberately trying to get one over a lender are fairly severe.

Engage a mortgage professional, be honest with them about your situation and I'm sure they will find a solution.

TopperHarris

Is it really a big issue that you may like to have a flutter from to time, or a one off. So long as you didn't put yourself into financial hardship and can afford it.

Just be honest about it.

kellyb1485

Thanks for your answers �� Yeah I thought it was a bad idea, I hope to god this doesn't cause a issue I am usually very careful just last 4 months decided to blow some of my savings so it's not like I have gone into debt due to gambling and not missed any payments. What do you think my chances of getting approved are? I have applied for nat west mortgage with 83% LTV

mrginge

For those of you that need the tl;dr summary -

'Should I commit fraud to get a mortgage?'

Goldiegirl

Just because the account is closed, it doesn't mean it disappears completely. If they want statements, they'll be looking for evidence that your salary is paid into a bank account, so they'll just ask for bank statements on the closed account

betmunch

Why did you apply to Natwest if you don't want your bank statements analysed?

If someone told me your story NatWest would be one of the last lenders I would place it with!

They will want the last 3 months bank statements as a standard request at that LTV

Brock_and_Roll

If you had plenty of money then gambling £2k is no better or worse than spending the same amount on a holiday, wedding or giving it to charity - in all event you will have nothing physical to show for it.