Can Mortgage Lenders find out about additional savings/investments

b80_2

Could another option be to transfer money from the account i don't want to disclose (betting account) to my parents and my parents then gifting us the money?

I understand the bank is going to want a guarantee that the funds are a gift and not a loan, but would they or the solicitor want to check my parents bank accounts to see where the gift originated from?

85_East

b80 wrote: »

Could another option be to transfer money from the account i don't want to disclose (betting account) to my parents and my parents then gifting us the money?

You should be aware of the rules around gifts and potential inheritance tax if you choose to go down this route, google 'gifts and inheritance tax' for more information, but basically if anything were to happen to your parents in the following 7 years this gift could be counted as part of their estate and subject to IHT

I'm not sure about the rules regarding matched betting and taxation etc, but as Boredatwrork says, banks will assume that checks have been done by the holding bank. From my personal experience when we took out a mortgage we had additional savings which we used to renovate, these had been moved to the same bank in the UK as the mortgage company (HSBC) from overseas and there was no issue. I think you are over complicating things!

b80_2

Yes I am prone to overthinking things. I normally find as I answer one concern and then my mind finds another to focus on!

The issue isn't so much around taxation, but more the lender not wanting to lend to someone who on the face of their bank account statement may have a gambling problem! I'm not sure how receptive they'd be to me explaining how matched betting and casino bonuses work! So I felt it would be something best avoided when going through the application process.

However it seems a shame not to be able to pump s fair amount into a bigger house purchase - although we can still get below 60% ltv without using the matched betting funds.