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Mortgage problem & gambling

stepar
stepar Posts: 3 Newbie
in Mortgages & endowments
Applied for a mortgage but been turned down due to some gambling on bank & credit card statements (gambling is now under control & wife managing financing so wont happen again). Is there any lenders out there who don't require statements?

Thanks

Comments

  • MortgageMamma
    MortgageMamma Posts: 6,686 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    They all requirement statements, but whether they would overlook it depends on how bad the situation got and exactly how badly it affected your finances.
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a mortgage adviser, 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.
  • stepar
    stepar Posts: 3 Newbie
    I had to show 3 months of statements, If I wait for 3 months of gambling free statements would that be ok?
  • amnblog
    amnblog Posts: 12,782 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Lenders do not all require statements. Ask a broker to manage this for you.

    We did one last year with one applicant gambling 25% of his net income.
    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.
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    stepar wrote: »
    Applied for a mortgage but been turned down due to some gambling on bank & credit card statements (gambling is now under control & wife managing financing so wont happen again). Is there any lenders out there who don't require statements?

    Thanks

    Under control?

    You are allowed to gamble. It's not illegal. However, due to stupid banks not understanding that a little gambling can be affordable I would suggest you never ever use a credit card to gamble with.

    To prevent banks from seeing the transactions you should only ever use Paypal, Neteller or Paysafecard. Those transactions will just appear Paypal or as a cash withdrawal.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • ACG
    ACG Posts: 24,889 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Not all lenders require statements, but they all reserve the right for ask for them even if not required as standard.

    Its difficult to answer the question, it could potentially be placed now but it all comes down to the finer details. I would make an appointment to see a broker. If all else fails, potentially with 3 months clear statements you could be fine but again lenders reserve the right to ask for more and they will also ask if you have had an application declined and if so why...
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, 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.
  • ACG
    ACG Posts: 24,889 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    HappyMJ wrote: »
    Under control?

    You are allowed to gamble. It's not illegal. However, due to stupid banks not understanding that a little gambling can be affordable I would suggest you never ever use a credit card to gamble with.

    To prevent banks from seeing the transactions you should only ever use Paypal, Neteller or Paysafecard. Those transactions will just appear Paypal or as a cash withdrawal.
    I suspect its not a £10 flutter on an accumulator every saturday if his wife has had to take control of the finances.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, 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.
  • stepar
    stepar Posts: 3 Newbie
    ACG wrote: »
    I suspect its not a £10 flutter on an accumulator every saturday if his wife has had to take control of the finances.

    You are correct:(
  • David_White
    David_White Posts: 892 Forumite
    Fourth Anniversary 500 Posts Combo Breaker
    There's no black and white rule with gambling and it ultimately comes down to whether it is deemed to be controlled and managed.
    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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