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Tradings affect on mortgage

Moneygrabber89
Moneygrabber89 Posts: 197 Forumite
Fifth Anniversary 100 Posts
in Mortgages & endowments
I am looking to port my mortgage to a bigger house.
I've done quiet a lot of trading recently and made good money but last month I lost 3k. Would this affect my porting mortgage application?

Comments

  • Moneygrabber89
    Moneygrabber89 Posts: 197 Forumite
    Fifth Anniversary 100 Posts
    Does nobody have any experience with this?
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    The question's a bit vague. "Trading" what? Is this self-employment which you'd be declaring as part of your application?
  • Moneygrabber89
    Moneygrabber89 Posts: 197 Forumite
    Fifth Anniversary 100 Posts
    no trading on the side. my full time wage is easy enough for mortgage
  • ACG
    ACG Posts: 24,735 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    If they can see large amounts in and out of your bank account, then possibly. If you have not gone overdrawn and you are not relying on the money from trading to support the mortgage then you should be ok. 

    It is not so much the losing the money that is the issue, it can be deemed as a form of gambling so even if you had a 100% success rate, it could still be a problem. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Moneygrabber89
    Moneygrabber89 Posts: 197 Forumite
    Fifth Anniversary 100 Posts
    ah right. well I lost 3k but still had 12k float.
    Do you see this being an issue mate?
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