Small but frequent gambling transactions

egan46

Hi,

I am in the process of applying for a shared ownership mortgage with the Halifax (85% LTV). I have submitted my bank statements to the broker, but I am worried about whether small but frequent transactions to one online gambling company will affect my application.

I have no other commitments or debts, I have never used an overdraft, but I have estimated that I make between 12-18 £5 or £10 deposits a month to SkyBet.

Will Halifax pull me up on this? Will they outright reject my application?

Thanks!

HappyMJ

egan46 wrote: »

Hi,

I am in the process of applying for a shared ownership mortgage with the Halifax (85% LTV). I have submitted my bank statements to the broker, but I am worried about whether small but frequent transactions to one online gambling company will affect my application.

I have no other commitments or debts, I have never used an overdraft, but I have estimated that I make between 12-18 £5 or £10 deposits a month to SkyBet.

Will Halifax pull me up on this? Will they outright reject my application?

Thanks!

Possibly it's hard to say. If you can afford to gamble there's nothing wrong with it. It's only a maximum of £180 a month. That's not really that much. I deposit a hell of a lot more to gambling sites than that.

My advice. Deposit to Sky using Paypal. It doesn't appear on bank statements.

amnblog

£180pm is fairly substantial for most shared ownership borrowers.


This is one for the broker to manage and advise on - I suspect a lot will depend on what the rest of the case looks like.