Frequent (but small amount) gambling tranactions. WIll this affect my mortgage app??

KateLR_2

Hi all

Sorry in advance for the wall of text!

We are first time buyers who are looking to secure a £214, 000 loan against a house costing £254501 (gifted deposit).

My partner earns £48200 a year and I earn £22000.

We both have good credit scores.

We are both regularly in arranged overdrafts but don't go over them. In the last 6 weeks or so we have made a concerted effort to reduce these overdrafts (and we have).

As the decision to buy a house was rather a sudden one (partner got significant raise) I have not had much time to get my bank statements "clean". In August and September I spent 150 and 200 respectively on online gambling (got a bit carried away with the new football season!). These transactions were usually £5/10 each so as you can imagine there are a lot of transactions which may look very bad to a lender? I would call the bets frivoulous and stupid but I hadn't planned on getting a mortgage. I stopped once I realise our house plans and don't plan on using them again!

I just wonder how much this would affect chances of a mortgage being accepted?

Many thanks
Kate

amnblog

If you use a lender that doesn't check bank statements it won't matter at all. Consult a broker.

KateLR_2

Thank you for your response. We do have a broker but the deals he's managed to find so far all require 3 months bank statements. 1 month would be fine! Will ask him to look around for the best option. To clarify; you think these kinds of transactions would definitely put off a lender?

Thanks
Kate

xyz123

Why can't u just wait 2 more months?

leanne12345

I used to do something called matched betting so I had lots of deposits to bookies on my statements, some up to maybe £50 and we got a mortgage with Natwest through a broker earlier this year. We were expecting to get the mortgage in just my partner's name but for various reasons this changed and that's why I hadn't stopped the betting before, I was really concerned it would stop us getting the mortgage but it didn't. Have you mentioned ut to your broker? Good luck!