National Lottery (Gambling) & Mortgage

withaspritz

Hi all

I already have a mortgage, this is more of a curiosity point.

Would having a DD to play the National Lottery be seen disfavourably with a potential lender? In the same way other gambling (i.e. bookies, app casinos etc) would be?

Any mortgage pros care to offer their thoughts?

ACG

Should be fine. I would not worry.

Ambiss

I expect it wont make a difference, unless it is causing you to regularly use overdrafts, and thus potentially influencing your credit rating

It is not a committed expense, or a cost of living in a potential property

safestored4

Considering thae odds against you winning anything worthwhile, then lenders are much more likely to regard this as you paying a voluntary tax as a good citizen

boo_star

If the DD was for something sensible like £8 a month it won!!!8217;t be an issue.

If half of your salary is being taken by the National Lottery every month both you, and any potential mortgage providers, may have a problem.

amnblog

Millions of people invest in the Lottery every week.

Not so many have accounts with the big betting firms loading their accounts from their main bank account several times a day. We have seen a number of these. This pattern is more representative of what the Lenders are concerned about.

withaspritz

Thanks for the replies all! I guessed it wouldn't be an issue, millions do it

gozaimasu

I suppose if it really worries you, the Lottery DD could come out of a different account to the one you use to apply for the mortgage.