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Anyone been refused a mortgage...

RedfordML
RedfordML Posts: 914 Forumite
Part of the Furniture 500 Posts Name Dropper Combo Breaker
in House buying, renting & selling
Through betting transactions on bank statements?

*asking for a friend...
«1

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Hobby or professional.
  • RedfordML
    RedfordML Posts: 914 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Hobby. Around £100 - £150 worth of deposits a week...

    Some weeks even see withdrawals coming back...
  • mije1983
    mije1983 Posts: 3,665 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Name Dropper
    What is your 'friend's' income?
  • RedfordML
    RedfordML Posts: 914 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    £20k

    Already have mortgage with bank, have MIP but buying bigger worried of any impact!
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    RedfordML wrote: »
    Hobby. Around £100 - £150 worth of deposits a week...

    Out of £1,400 net monthly income. That's not an insignificant amount. An expensive hobby to have.
  • RedfordML
    RedfordML Posts: 914 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    It!!!8217;s tracked. Between December - March net is -£135

    Has anyone lost a mortgage through transactions?

    Been a mortgage customer for 13+ yrs never missed a payment
  • ACG
    ACG Posts: 24,956 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    It doesnt really matter whether or not he is winning. It is more the fact it is being done.

    Some lenders might have issues, other lenders should be fine.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • RedfordML
    RedfordML Posts: 914 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Thanks ACG.

    Hopefully it will be all good, I!!!8217;ve advised nothing for next few weeks
  • kinger101
    kinger101 Posts: 6,787 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    RedfordML wrote: »
    Hobby. Around £100 - £150 worth of deposits a week...

    Some weeks even see withdrawals coming back...

    If it were me, I'd not lend on that, but I'm not an underwriter. Gambling can be a terrible addiction.

    I was doing a bit of matched betting during the last World Cup, and used a Skrill account to avoid the daily entries from relatively high volume of transactions from Mr. Hill et al..
    "Real knowledge is to know the extent of one's ignorance" - Confucius
  • System
    System Posts: 178,429 Community Admin
    10,000 Posts Photogenic Name Dropper
    Anyone earning 1400 a month and spending 400-600 of that a month has a gambling problem. So why would a bank lend to someone who is showing signs that potentially they will have financial problems down the line as gambling is progressive.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
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