online gambling on bank statements

nickrawson

Hi All
apologies firstly if this has been asked several times before.
im a FTB and have recently applied for a 95% LTV mortgage through a broker, AIP agreed and application processed fine with Post Office, upon the lender looking at my bank statements though there is some recreational gambling and now it looks as though they are going to decline. im still well within my affordability, i have no outstanding credit and can show on my most recent statement that the online deposits have stopped, has anyone else had similar circumstances and had an application approved? ive also had an AIP through my bank (Barclays) so was wondering if it were better for me to persue the mortgage through the bank rather than the broker? any advice is appreciated. Many Thanks, Nick

amnblog

What do you believe Barclays will say about the same data on the same account statements?

What has the Broker said, did they not check the Bank Statements before application?

You have engaged them to manage this.

kingstreet

We have no way of knowing as you can't possibly give us the amount of information we need.

Best you can hope for is a lender which works out your average spend and treats it as a hobby and includes it as an outgoing in affordability.

If this doesn't work, you're getting declined.

Other lenders don't like gambling full stop and will decline automatically, as it may mean their payments stop because the 2.20 at Fontwell is more pressing.

Your bank? The one with unlimited access to your current account records? Which account did you run your gambling from?

ashe

nickrawson wrote: »

Hi All
apologies firstly if this has been asked several times before.
im a FTB and have recently applied for a 95% LTV mortgage through a broker, AIP agreed and application processed fine with Post Office, upon the lender looking at my bank statements though there is some recreational gambling and now it looks as though they are going to decline. im still well within my affordability, i have no outstanding credit and can show on my most recent statement that the online deposits have stopped, has anyone else had similar circumstances and had an application approved? ive also had an AIP through my bank (Barclays) so was wondering if it were better for me to persue the mortgage through the bank rather than the broker? any advice is appreciated. Many Thanks, Nick

Hi, I am in a good position to comment on this as I've just received a mortgage offer.

What I suggest is if you get declined, you need too engage a mortgage broker who can place you with a lender that is less likely to ask for statements. We both do Matched betting, so when you look through our bank statements you see about £2k a month going out to betting companies - it all comes back in and then some, as its a profitable system, but in our nativity we always thought if you're profiting then surely there is no issue? Obviously we know now that is not the case and you need 3 months clear bank statements in case they are asked for.

Unfortunately I can imagine most lenders will take an issue with it if they see it on your statement and if applying via the company you bank with, they have access to much further back so can see a history of gambling if it is there.

Our broker placed us with Nationwide. we had to provide 3 months payslips and no bank statements and we got our mortgage offer earlier this week. Can't recommend using a broker enough. their knowledge of who is more likely to ask for statements etc is invaluable, and they may have better success appealing any declines if its only a few.

kingstreet

ashe wrote: »

Our broker placed us with Nationwide. we had to provide 3 months payslips and no bank statements and we got our mortgage offer earlier this week. Can't recommend using a broker enough. their knowledge of who is more likely to ask for statements etc is invaluable, and they may have better success appealing any declines if its only a few.

I submitted a Nationwide case last week and the only upload was a single payslip. For some reason it was called for review at HO and I got a request for three months bank statements today.

It's very difficult to be able to say with 100% accuracy what is going to be requested by any lender. Often, credit score determines the documentation requirements following submission.

Maka344

How much are we talking? I!!!8217;m
Concerned with my application now, I have the odd £20 to the national lottery.

Fisa002

kingstreet wrote: »

I submitted a Nationwide case last week and the only upload was a single payslip. For some reason it was called for review at HO and I got a request for three months bank statements today.

It's very difficult to be able to say with 100% accuracy what is going to be requested by any lender. Often, credit score determines the documentation requirements following submission.

I agree. I applied to Nationwide. My case got sent to HO and then they requested proof of deposit and bank statements. ( in the process of getting a mortgage offer) but definitely agree with the above find a good broker

bigstevex

Has me a little concerned this, I run a lottery syndicate with work and have ~£90 per month direct debit on my personal account, is this easily explainable? People give me ~£80 of it and the other £10 is mine, do I want to transfer this prior to application or get it off my main account and into an old account I rarely use?

Thrugelmir

bigstevex wrote: »

Has me a little concerned this, I run a lottery syndicate with work and have ~£90 per month direct debit on my personal account, is this easily explainable? People give me ~£80 of it and the other £10 is mine, do I want to transfer this prior to application or get it off my main account and into an old account I rarely use?

Handling lottery funds on behalf of a syndicate is best done in a seperate account.