Mortgage and Gambling

Michael1696

Hi There,

We are moving house and I am about to apply for a new mortgage. My salary is 2.7k take home and I have no debts. My balance is healthy. A couple of months ago I paid £500 into my betfair account. I know that mortgage companies can sometimes reject due to this (I had ~10k in my account at the time). Is this likely to be a problem for my new application?

Also I am applying with my wife who was overdrawn by £10. I presume this is not a problem?

Any help gratefully received!

Jenkic20

I think you are worrying about something that does not need to be worried about.

They will probably only want 3 months bank statements so it may not even appear. As long as your partners overdraft is agreed and formal then that also shouldn't be a big issue.

Michael1696

Thanks so much for replying. The trouble is it was last month, so will turn up on my statements! Worried face emoji.

glosoli

Not every lender asks for bank statements now, it's becoming less and less frequent, and others only request it in certain situations (i.e, big loan amounts), so it's probably not going to be a problem. If you do need to produce statements, common sense will hopefully prevail.

Jenkic20

I just got a mortgage approved with gambling transactions approx £10 every 3-5 days for a month or so. Not even mentioned.

As long as it is not a wreckless habit and everything is affordable you will be fine.

Michael1696

Thanks so much. This puts my mind at rest a little!