Buy-to-let mortgage deposit from gambling winnings

play4nay2

I have been matched betting/trading for the past 4 years. Alongside regular saving and trading I have amassed £60k. Am looking to get a buy-to-let for a £200k property. I earn £40k/year so I am above the £25k/year salary needed to apply. I need 25% of £200k for the deposit = £50k. I have £5k in my current account and £60k across different betting sites and my skrill account. How do I

About me:
I currently have a residential mortgage and am looking to get a buy-to-let mortgage on a 2nd property.
I have been matched betting/trading for the past 4 years. Alongside regular saving and trading I have amassed £60k which I’d like to put towards a 2nd property
Salary £30k/year
Current account: £5k
Betting sites & Skrill: £55k

Details of the 2nd property
House price: £200k
Deposit needed (25%): £50k + £10K (fees/extras)

I’m able to withdraw cash from the skrill card (2k/day) or transfer it to my current account (£10k/day)
Skrill debit mastercard can only send out money to other skrill accounts and any bank account in my name

Questions:
Will the lender accept matched betting (gambling) winnings as a legitimate source of deposit funds? – I am able to show the skrill statement where all of the deposits and withdrawals have been to and from exchanges (smarkets, matchbook, betfair)


How do I get the money from Skrill to the lender? – Will they accept the skrill statement then give me a week to transfer the money to my current account where it can then be sent to them? – What will my current account think of me sending in £55k within the space of a week?

If the lender disapproves of the money coming from gambling, is there another way I can get the £55k into my current account?

davidmcn

It's probably fine from a money-laundering point of view (though note that you send the money to your solicitor, not your lender, and you'll need to jump through whatever money-laundering hoops your solicitor has). But your bigger problem will be that lenders tend to be twitchy about any significant amount of gambling in an applicant's finances, so you'll probably want a broker to help find a more sympathetic lender (if there are any).

ACG

You need to choose the right lender for this. Some lenders will be fine, some less so, others will be fine assuming they do not know - ie they will not ask and it will not need to be disclosed.