Gambling transactions on bank statement

satchef1

Matched bettors, sports traders, and gambling addicts need to worry about how their expenditure with the bookies may affect their mortgage chances; they may be spending (or appear to be spending) more than they can afford. I "spend" £5k+ per month on a salary for £2k/month. Even if that money (plus some profit) comes back, it still doesn't look good (which is why I hide it using current accounts, savings accounts, and PayPal).

People sticking a few quid on the footie at the weekend have no reason to panic. The only real difference between betting and other recreational expenditure is the betting might actually yield a decent returns.

Jenkic20

Had a mortgage with 5% deposit approved with PO/BOI yesterday and I had some small recreational gambling transactions on my bank statements. They were small and infrequent though. :money:

jlaw4

Jenkic20 wrote: »

Had a mortgage with 5% deposit approved with PO/BOI yesterday and I had some small recreational gambling transactions on my bank statements. They were small and infrequent though. :money:

thank you SO much for sharing this, its infrequent. My broker has his bank statements (first direct have a !!!! online banking) so i cant see how many were in december we think its about 2 at around 10-15 each then this £10 in april... the rest are on paypal now. We just hope it doesn't decline, did you have any cc debt or anything?

Jenkic20

I had more transactions then that, maybe £10 every 3-4 days for about a month - I mentioned it to the broker and he wasn't concerned at all.

We have no debt anywhere. We cleared it all before buying so hence the 5% deposit.

Thrugelmir

Lenders are equally interested in expensive hobbies. Whether it's a leg of a racehorse, keeping polo horses, running a racing car. Or simply that there's unusual outgoings on the bank statement. Providing transactions are in the bounds of normality. There should be no issues.

Jenkic20

Very well put ^ :cool:

I was unduly concerned at the time, but now I see that, with a healthy current account balance and good affordability, a few gambling transactions here and there is no different to someone spending money every month on another hobby. As long as it is not reckless gambling.