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Does having many bookmaker accounts hurt your credit rating for mortgages?
Edtough
Posts: 144 Forumite
Years ago I made a few hundred quid by taking advantage of online bookies and their free introductory offers, until I had exhausted them all.
10 years on I'm considering doing the same again , but it's occurred to me that all those bookmaker accounts on my record may be frowned upon by lenders? I would never gamble in the normal sense of the word, but the free offers are too good to turn down if you are self disciplined. I currently have an excellent credit rating so wouldn't want to jeopardise it.
Is the mere existence of numerous bookie accounts a red flag to lenders?
10 years on I'm considering doing the same again , but it's occurred to me that all those bookmaker accounts on my record may be frowned upon by lenders? I would never gamble in the normal sense of the word, but the free offers are too good to turn down if you are self disciplined. I currently have an excellent credit rating so wouldn't want to jeopardise it.
Is the mere existence of numerous bookie accounts a red flag to lenders?
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Comments
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Gambling activity is never going to look good, and certainly wouldn't do it when trying to get a mortgage. I'm interested in trying matched betting, but holding off until our house purchase is through0
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Open an account with a prepaid debit card and do matched betting through that. It doesn't show up on credit file.0
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Accounts with bookmakers? How would a lender know about them?
The only issue would be opening new accounts if a credit search (not ID) is carried out during the opening process.
Frankly they won't care if you have twenty accounts, but they will be interested in the amount you gamble each month and some will be nervous, while others will treat it as a hobby as long as including your monthly spend the mortgage remains affordable.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Great info. Thanks guys.0
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Certainly makes sense.
I think a flea was put in my ear by someone regarding this subject, but now you mention it I guess the lender would only know of the "online gambling" by payments made from bank accounts into these online bookies, and NOT the existence of the bookmaker accounts.
I would make a one off deposit only into these bookie accounts for match betting, and then only ever withdraw from the bookie accounts. I'm not planning on remortgaging for a good 18 months, so no "gambling activity" in the form of funding bookie accounts would be present when bank accounts are scrutinised.0
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