Online gambling mortgage help needed

Cat_sandler

Worried about this. We’ve just reserved a shared ownership property and now have 28 days to get to exchange. Myself and my partner both gamble as a hobby (£10 a week each on average)
Our disposable income is comfortable and we don’t have any other vices.
Also. We’ve recently come back from a holiday and my partner was at his overdraft limit for 10 days as a result before getting paid (£200).
He is now back in credit and none of us have ever defaulted on a payment and both have good credit scores according to clearscore.
Any idea of our chances?

Brummie85

There's simply too much information missing for anyone here to suggest if you would or wouldn't get a yes for a mortgage.

Things like your deposit amount, property value, your incomes, your debts and monthly outgoings, the mortgage term etc will shape the list of lenders that will consider you.

You'd be better off making plans to see a few advisors and then sit down to work out which lenders are best for you. Don't let the advisors rush you. Be upfront with them that you are going to leave with their advice and then call them back if you want to do business with them. Since the whole mis-selling of financial products fiasco exploded they are less prone to trying a hard-sell approach, but don't let the excitement sway you either. Good luck !

Cat_sandler

Thanks for reading and taking the time to reply.

We have requested the help of an advisor and have been honest, but I keep reading horror stories.

Apart from my partner!!!8217;s £200 overdraft, we have a credit card that is paid off in full each month. The balance of this never exceeds £500.

We both earn £21k each per annum.

The property is a shared ownership new build, we are buying a 75% share at £127,500 and have a 5% deposit.

I didn!!!8217;t consider that recreational gambling would be a red flag leading up to wanting to buy a house, or we would have avoided it. I!!!8217;ve added up the gambling transactions and over the past 3 months they are £250 which averages out to be £10 each per week.

bigisi

Cat_sandler wrote: »

but I keep reading horror stories

Of course you do. Nobody posts online when everything has gone smoothly, those are in the tens of thousands whereas the problems are in the tens or hundreds.

Onewayup

I stopped betting online a month prior to my application so it was still in my statements I had no issues I'm due to legally complete today. Hope it goes well for you

Smevchenko

Onewayup wrote: »

I stopped betting online a month prior to my application so it was still in my statements I had no issues I'm due to legally complete today. Hope it goes well for you

Same as above, had 6 weeks with no transactions before mortgage application, so still had some visible on 3 months requested statements. No questions were asked.

The figures you have mentioned, provided your affordability and other credit stands up, shouldn't be a problem.

Cat_sandler

Thanks all, feeling a little more optimistic now!

Colligan

I have been accepted for a mortgage from nationwide, i had some large gambling transactions over the past few months before applying, i am talking £1500 plus with betfair so not simply twenty quid here and there and i had no problems and was accepted within a few days on a 5 year fixed at a very good rate, i hope this settles your nerves a bit, at the end of the day maybe the amount that has been spent on gambling someone else may spend the same on drinking and going out, takeaways etc, we are all allowed to have some fun time aren't we :-)