Do Mortgage lenders check your Paypal account?

Nando1992

First post here - hello! :money:

I'm looking to apply for a mortgage this year - I'm a first time buyer, and will be looking to hopefully buy a house with a couple of rooms I can rent out to help with the mortgage repayments. The LTV ratio will probably be around 80-90%.

My question is this... Will lenders/underwriters look into my Paypal account/statement as well as my bank accounts?

I want to start Matched Betting (it is risk free and a way to earn a bit of secondary income) using a Paypal account. The reason I'm considering using Paypal is because if I get loads of 'bet365' etc etc etc popping up on my statement, they're not gonna be happy, even if it is risk free and yes LEGAL (Google it, it's a way of making cash from Sign up rewards on betting websites).

It's worth mentioning I won't be using my Paypal/Matched Betting money towards my deposit, and I won't be transferring money between my bank accounts and Paypal, I'm using Paypal as a pool of extra income I won't touch till after the mortgage application process. So it shouldn't really be relevant, as I have a good credit score, never any debts, can provide proof of income etc etc.

Am i deluded??? :rotfl:

Jheeeez that was long winded! Hope that made sense, thanks for any help!! :T

N

tom9980

I know a few people who have been asked for PayPal statements and a few others who have been asked for skrill/moneybookers and other similar ewallet statements too.

I would open a new bank account for match betting, maybe avoid NatWest they seem to be closing down some unlucky people who partake in match betting of late.

What you need to do is find lenders who don't look at statements such as ironically NatWest, and maybe keep gambling transactions off your accounts in the 3 months leading up to application.

Basically it won't be a problem if you use a good open minded independent broker to help you.

Neutrinno

They could request them if they saw a lot of outgoings into PayPal on your bank statements.

It would be sensible to maybe avoid excessive betting for the 3 months prior to your application.

Nando1992

Thanks for everyone's help so far. Any more input would be much appreciated!