Mortgage while matched betting

tweeto

Hi, I am currently in the process of a mortgage application with HSBC. I have my main bank account with Halifax (where my pay is put into) and also have a bank account with Monzo which I use for my monthly budget/spending and also for matched betting.

I haven't been asked for my bank statements yet from HSBC (application is currently with underwriters), but am concerned that if they ask for my Monzo statement it will look like I have a gambling problem as it's just transaction after transaction for bookie websites. I could probably just submit my main Halifax statements, but they will probably see that every month I transfer X amount to my Monzo account and may request to see these.

Obviously I know it's matched betting, but if HSBC query it, it's just my word which I doubt they will take...... Does anyone have experience of HSBC's view of this? 

bradders1983

Not HSBC but recently sent Barclays bank statements for a mortgage (i bank with Halifax), on which will have been various large credits and debits mainly from Betfred. They were not bothered in the slightest clearly as they never mentioned anything. This is actual gambling though, you see some of us like to take the odd risk 😘😘

As an aside I also have a Monzo account and credits to that will have been evident on my main bank statement but no, they havent asked to see those.

However I have built a seperate bankroll to my day to day outgoings and am not spending what I cant afford, sure the same applies with you 

tweeto

bradders1983 said:

Not HSBC but recently sent Barclays bank statements for a mortgage (i bank with Halifax), on which will have been various large credits and debits mainly from Betfred. They were not bothered in the slightest clearly as they never mentioned anything. This is actual gambling though, you see some of us like to take the odd risk 😘😘

As an aside I also have a Monzo account and credits to that will have been evident on my main bank statement but no, they havent asked to see those.

However I have built a seperate bankroll to my day to day outgoings and am not spending what I cant afford, sure the same applies with you 

Thanks, that's good to know....Yeah I have a matched betting "bank" built up so it's completely self sufficient. I haven't transferred money from my main bank to be used for matched betting for over a year now. All the money is spread across the various bookies/exchanges and in my Monzo bank account. But I was just a bit worried as I use my Monzo account as my everyday spending too, so money gets transferred into that from my main account every month + savings. 

letsbetfair

Nationwide gave me a mortgage with lots of matched betting transactions on my account with no issue (were more concerned that I'd managed the account well - e.g. never overdrawn). My affordability was good and I had a high % deposit though

eve824

This is interesting. We stopped our MB 3 months before we applied for a mortgage when we moved last year. We didn't forsee moving again but luckily we haven't had time to devote to MB over the past few months so we haven't done any. I always thought lenders would really care if they saw hundreds of £££ of transactions to bookies each month!!