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Light gambling and mortgages
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Rexken69
Posts: 2 Newbie
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
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
0
Comments
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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.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S)
Loans cost 2.9% per year (Nationwide) = FREE money.
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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).0 -
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?
Cheers0 -
I don't see it being a problem but why use a lender that requests bank statements in the first place?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
The bank may well ask for the statements but as long as the transactions are controlled, affordable and managed you should be fine.I am a Mortgage BrokerYou should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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