FTB mortgage with gambling on bank statements

Jack199191

Hi,
I know this has been covered countless times but I want a little bit more information from people that have been through a similar situation. Me and my partner are a about to reserve a house off plan, the mortgage application will have to be submitted towards the end of march. The problem being that when I submit my bank statements January will have some gambling on (no transactions after the 12th January) these transactions were for £240 in 11 days. All in deposit no larger than £30. Then money paid back in as winnings hence the more deposits. We are both debt free and the partners statements are perfect. Would this cause a problem and is it best holding off for another house to be released? Thanks in advance for any advice.

ashe

Jack199191 wrote: »

Hi,
I know this has been covered countless times but I want a little bit more information from people that have been through a similar situation. Me and my partner are a about to reserve a house off plan, the mortgage application will have to be submitted towards the end of march. The problem being that when I submit my bank statements January will have some gambling on (no transactions after the 12th January) these transactions were for £240 in 11 days. All in deposit no larger than £30. Then money paid back in as winnings hence the more deposits. We are both debt free and the partners statements are perfect. Would this cause a problem and is it best holding off for another house to be released? Thanks in advance for any advice.

I was in a very similar situation - I earn good money as does my partner but we both do matched betting, in last 2 months average about 2k in betting transactions and then more comes back in but lenders apparently dont count the money coming back in, and see gambling as high risk.

Speak to a broker - they can try place you with a lender that is less likely to ask for bank statements to review - ours put is with Natwest. Just need to provide payslips in our case.

it could be ok in your case as only a few, but still I'd speak to a broker.

Jack199191

Thanks for the advice, I spoke to the broker that was recommended by the house builder and they stated that they have lenders that don't frown upon gambling as much as others and also stated that they are high street lenders. A concern of mine is that we apply, get declined and then that has a negative impact on our credit ratings.

ashe

The broker recommended by the builder is probably giving the builder a kickback. Speak to an independent broker. Just a suggestion. As I've said we've applied for nationwide who are high street and we only had to provide payslips. The broker can advise which lenders are less likely to ask. If you get declined you're in the same position as now - wait 2 months until you've got 3 months clear statements.