Light gambling and mortgages

Rexken69

Hi guys

Just going through a mortgage application process. Household income £7000 net a month, 3 months statements show average of £70pm to paddy power.

Is this going to pose a problem?

I have a really bad feeling about it

HappyMJ

It'll be fine. £70 will be regarded as an expense on your affordability calculation but it's not that much so as long as you are not at your limit you'll be fine.

theEnd

Should be fine, but probably depends on the lender.

I had much bigger amounts going out and was told they were treated as regular expenses (much the same as a gym membership etc).

Rexken69

Thanks guys. At the moment, the bank has statements for mine and my wife's individual accounts (our salaries go into our individual accounts) We hardly use a joint account we have but this is where the paddypower transactions are. Will the bank ask for these statements as well as the ones I've given them?

Cheers

amnblog

I don't see it being a problem but why use a lender that requests bank statements in the first place?

David_White

The bank may well ask for the statements but as long as the transactions are controlled, affordable and managed you should be fine.