Precise Mortgages - betting transactions

RRS1999

Hi there,


We have sold our house and we have have an offer on another house


We have a DIP with Precise mortgages which I am happy with as I had a CCJ on my credit file which I was unware off at the time - I have since arraanged an agreed repayment plan


We have a combined salary of 70k coming and and we do not have any other credit apart from this CCJ


All the required information is in with Precise, HOWEVER there are around 5/6 betting transaction outlaying around -300 total over the last 3 months


I am worried this will be declined because of these transactions - can anyone feedback if this will be a issue ??


Many Thanks

[Deleted User]

Is that -£300 the net figure (i.e. with winnings counted too)?

What's the actual outgoing figure? (Just payments to the betting companies, not any winnings/money coming back in)

If the total outgoing amount is £300, on £70k (joint) that's nothing.

But - As always, there are more factors than just £300 betting.

E.g. how long ago the CCJ was - if it's 6 months ago, it's pretty concerning. 4 years and not so much.

It looks like the CCJ isn't settled ("repayment plan") - they may question why you can spend £300+ on gambling (when you're on reasonable salaries) but aren't showing a willingness to fully repay your CCJ. I can't imagine the CCJ is particularly high if you genuinely didn't know about it?

To be honest, without knowing the entire case (including bank statement conduct - are you overdrawn all month, for example) it's impossible to say. But £300 of gambling wouldn't, on it's own, cause the case to get kicked out.

Precise are intermediary only aren't they? Speak to your broker if you're concerned. Other than that, you'll have to wait and see - hopefully you'll be fine!

RRS1999

Outgoing figure is -£310 (no Winnings included) - I have no overdraft therfore never been overdrawn


CCJ (4.5k) is from November last year, thats why we are using Precise.


The CCJ will be paid off in and satisifed with some of the balance from the equity of the house sale.


Only concerns are 1. CCJ - however MB when going through the DIP said it wont be a problem
2. -£310 in outgoing transactions in 3 months


It's more the 5/6 transactions in 3 months (total -310) on betting are my real concerns


Your feedback is greatly appeciated

[Deleted User]

Maybe it's just me, but to me £310 over 3 months is very little IMO. Even on a modest income like £25k I wouldn't be overly concerned unless you were either OD (and you've said you aren't) OR payments being missed / account being run down to £0.01 each month type of conduct.

Of course if company policy says something different, an Underwriter can't override that - but at a lender like Precise I really doubt they have a formal limit, it'll be Underwriter discretion.

That CCJ is a hefty CCJ mind. The ones I normally see that people didn't know about are for the couple of hundred. Although - having got through DIP, hopefully that won't be an issue.

If they're prepared to lend to you with a £4,500 CCJ within last 12 months, I honestly can't see £310 in betting transactions changing the decision to a reject! Hopefully they'll review your docs to put your mind at rest soon!