Betting transactions and getting a mortgage

petermortgages

Hi,
with online betting being as big as it is now-a-days. What are potential mortgage lenders views on betting transactions being on our bank statements?

ACG

It will depend on the lender and the circumstances.

Betting £5 a night looks a lot worse than say £20 on a Saturday.

We did one last year where a lad put on twice his annual income in the space of a month. But there was an explanation behind it.

Some lenders will take a view on it, if you were spending a fiver a night, then what is the difference between that and going to pub and having £2 pints... But the devil is in the detail with this sort of thing.

Sad_Dad

I was concerned about this so all my betting transactions are now made from a separate account to my main bank account.

I have assumed all lenders would only want to see my main bank account statements.

They might be a bit alarmed otherwise.

sheepy21

Sad_Dad wrote: »

I was concerned about this so all my betting transactions are now made from a separate account to my main bank account.

I have assumed all lenders would only want to see my main bank account statements.

They might be a bit alarmed otherwise.

I wouldn't bet on it (excuse the pun) our broker asked for bank statement from my bank account I'd recently stopped using, so just because it's not your main account doesn't mean they won't want to see the statements!

Smevchenko

Recently got a mortgage with Barclays and they requested 3 months bank statements. The first 6 weeks of these had numerous £5 and £10 transactions, probably totalling £200. No questions were asked.
Mortgage offer received. Now own a house.

Sad_Dad

sheepy21 wrote: »

I wouldn't bet on it (excuse the pun) our broker asked for bank statement from my bank account I'd recently stopped using, so just because it's not your main account doesn't mean they won't want to see the statements!

Smevchenko wrote: »

Recently got a mortgage with Barclays and they requested 3 months bank statements. The first 6 weeks of these had numerous £5 and £10 transactions, probably totalling £200. No questions were asked.
Mortgage offer received. Now own a house.

I'm looking to remortgage next year when my 5 year fixed rate ends, it could be an interesting conversation if they want to look at all my bank statements.

I've just checked my figures for June so far and I have nearly 30k going in and out from my online bookmakers accounts, mind you it has been a busy month with the World Cup taking place.

I can prove that I consistently make profits but I guess they wouldn't take that into consideration.