Mortgage and matched betting

sjh101

My wife and I are looking to move house. We have comfortably been paying our mortgage for the past 8 years without missing payment.Combined we are fortunate enough to be in a position where we can save between £500/600 per month. The mortgage we want is for a significant amount more than what we pay now but we have done our calculations and can comfortably afford it still.

What I want to know is do mortgage lenders ask for every single current account or just the ones with salary paid into it? Also do they want to see savings accounts? We have a joint account which is the main account with both salaries and outgoings, then we each have our own personal account. Every month when the biggest salary gets paid in to the joint account we each take £200 to do what we want with. I want to use some of mine to get involved with matched betting. We budget for each taking £200 per month and can still save the amount mentioned, amongst our other outgoings. So regardless of whether I spent my £200 on whatever, it wouldn’t affect the main joint account as it’s already budgeted for losing 2 lots of £200. (If that makes sense)

So I want to get involved in matched betting to earn a bit of extra income, but not at the expense of getting a mortgage approved. Anybody know if it would be instantly rejected if they saw multiple deposits to betting websites (which would be on my personal account and not the joint) even though it’s not actually gambling and is totally risk free. Are mortgage lenders aware of this sort of thing or do they see it as gambling still?

Thanks in advance

ACG

There is a good possibility it could affect your options. Probably not prevent you from getting a mortgage but I would 100% hold fire as the risk far outweighs the reward in my opinion.

tom9980

Why risk it, just wait until the new mortgage is sorted. You won't be missing out on much given the current match betting offerings anyway.

woofdonkey

You would be crazy to risk this IMO.

pharmice

ACG wrote: »

There is a good possibility it could affect your options. Probably not prevent you from getting a mortgage but I would 100% hold fire as the risk far outweighs the reward in my opinion.

ACG, I have pmd you on a mortgage enquiry. Thanks.

teggy

How about opening a separate account to use just for matched betting? Would any mortgage company need to see the transactions in that account?