Halifax first time buyer!

Helpmelauren

Hi!
So myself and my partner have had an agreement in principle with Halifax. We have 15% deposit and all seems well however I have some gambling transactions on my bank statements and I'm wondering if anyone has any experience of this and whether the mortgage will be offered?
Any idea what they look for guys?
Thanks

foxy-stoat

No idea to be honest, I would just wait and see wait happens. If your not a serial gambler then I wouldnt worry, but if your dropping hundreds of pounds each month on a regular basis then maybe you should be thinking about stopping for a while.

cahillg81

Have they asked to see bank statements?


Some lenders won't ask for these. Assuming you have gone direct, you may be best speaking to a broker.


But it does depend on the level/frequency of transactions.

In future best to have a secondary account for things like gambling.

csgohan4

cahillg81 wrote: »

Have they asked to see bank statements?


Some lenders won't ask for these. Assuming you have gone direct, you may be best speaking to a broker.


But it does depend on the level/frequency of transactions.

In future best to have a secondary account for things like gambling.

Don't some lenders ask for statements from all current accounts?

cahillg81

Not that I am aware of.

Carl31

we just got a mortgage with halifax as a FTB. We dont have gambling transactions so cant really comment, but we were not even questioned on anything, where friends of ours had their mortgages reduced when they gave their statements in

I dont think its necessarily the type of transactions, its not illegal to gamble, its probably more looking at the volume and amount of transactions, whether they fit your SOA, and how much you have left on the average month

baz8790

I'm a first time buyer with a 15% deposit and mortgage is through Halifax.

They didn't ask for any bank statements just my last pay slip.

Decision was through within 4 days as the valuation had already been done as part of the home buyers surveys (Scotland)

amnblog

Halifax do reserve the right to ask for Bank Statements. Gambling is not a 'problem' in itself, but a 'Gambling Problem' can be.

cahillg81

But lenders can't determine a gambling problem. If you'd to look at my statements you would think I had a gambling problem but I'm a winning punter who takes advantage of very short margins and arbs to make more money than I'd get leaving cash tied in a bank.

That's obviously not the case with everyone but gambling is no different to trading stocks and shares if you know what you are doing.

It's a bug bear of mine and it's been frowned upon since MMR. You should automatically get bonus points for betting online as opposed to llifting £100 cash out and going to a B&M bookmaker - where you already give up equity going in the door.

amnblog

Lenders can and will make their own mind up as to what they consider a problem. The punters view is irrelevant, as is the success rate.

There is always someone else queing up to lend the cash to.

Gamblers are well advised to seek lenders who do not check Bank Statements.

cahillg81

I know these things.