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Light gambling and mortgages

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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

Comments

  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    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:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • theEnd
    theEnd Posts: 851 Forumite
    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).
  • 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
    amnblog Posts: 12,728 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    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.
  • 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 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.
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