Advice on Mortgage Decline and Appeal.

Sammie1987

Just to offer a bit more information, here's the difference between online transactions versus bank statement.. As you can see the first picture does look like my account goes overdrawn,  but officially on the bank statement it clearly doesn't.

GDB2222

Comms69 said:

Stenwold said:

Comms69 said:

Im not sure on what basis you're appealing tbh. You will have gone overdrawn at some point, even if it's for a few hours. 

They arent obliged to lend to you, either you're desperate to borrow and then you shouldn't - especially if you work in a bookies. Or another lender will lend you the money. 

Sorry

It's not uncommon for transactions to appear in online services at different times to the transaction dates/times, so the OP may not have gone overdrawn at any point.

Not sure why someone who is trying to move house shouldn't just because they are desperate to? And what does working in a bookies have to do with anything?

Sounds like there is good grounds for appeal, especially if you've got the original statements to prove your case - I'd be surprised if your broker doesn't get the decision overturned.

Good luck 

The transactions can appear at odd times, but the balance is always accurate.

Bookies are currently closing left right and centre, so job insecurity would be my concern

I’m not sure why betting shops are a thing these days at all? Why go into a shop when you can gamble on your phone? 

Shops used to make money on the gambling machines, but that’s been curtailed.

Sammie1987

Comms69 said:

Sammie1987 said:

Comms69 said:

Im not sure on what basis you're appealing tbh. You will have gone overdrawn at some point, even if it's for a few hours. 

They arent obliged to lend to you, either you're desperate to borrow and then you shouldn't - especially if you work in a bookies. Or another lender will lend you the money. 

Sorry

We would like to borrow Yes because we have found the house we want, not sure why I shouldn't get a mortgage because I work in a bookies, any reason for that? 

Only because of the current job insecurity is all i meant

Ah right, that makes sense. As it stands my job is secure but I can see your reasoning.

Sammie1987

GDB2222 

Shops used to make money on the gambling machines, but that’s been ccurtailed.

Agreed, we use to make a lot more money prior to the change of stake on machines, online gambling is taking over massively, but we still have a lot of old fashioned betters that like to come in to shops and bet on their horses with a human haha, fortunately as it keeps me employed. 

numbercruncher8

Would you give yourself a loan based on that information?
It looks like you're living paycheck to paycheck, and with hardly any money left in the bank account you spent £20 on gambling.
I'm sure if the overall account balance was £10,000 a £20 bet would be negligible and treated in that way. 
Maybe you have other savings but fact is at the moment the banks can pick and choose who they want to lend to.

Sammie1987

numbercruncher8 said:

Would you give yourself a loan based on that information?
It looks like you're living paycheck to paycheck, and with hardly any money left in the bank account you spent £20 on gambling.
I'm sure if the overall account balance was £10,000 a £20 bet would be negligible and treated in that way. 
Maybe you have other savings but fact is at the moment the banks can pick and choose who they want to lend to.

I see your reasoning here, I get money paid into my account weekly and tend to make sure I pay off extra on balances when I'm due another payment. 

kangoora

The fact you are going so close to the wire on your monthly salary is probably working against you when a real person looks at it as opposed to 'computer he say yes', maybe it would help if you could point out regular savings from that account? If I was looking at that I'd be assuming you are transferring money in to fund/cover a gambling habit. If 6 months statements show that as a regular transfer i.e. money out to savings then some transferred back in to keep the balance up and there are a number of gambling transactions on there, then at the least it would be ringing a few alarm bells.

I'm amazed that anyone working in a bookies gambles, seeing what they must see virtually every day. My dad used to say "You never see a poor bookie", there's a reason for that. I've known exactly one person make OK money from gambling and he used to be a stable boy for 10 years in a couple of racing stables near us and kept up his contacts.

Chandler85

To add, you work in a bookies, which is fine.

Your gambling is with Sky Bet, which don't have bookies, so working in the bookies and your gambling are not the same.  They aren't related.

The banks probably seeing that you are transferring money from another account, to fund the bets you are making.  So you could appear to be right on the wire or gambling beyond your means.  Both may be totally untrue but it is very easy to look at your statements and assume that.  If your balance was going up £200 a month over the 6 months but you also gambled £50 a month, then it wouldn't be seen as the issue.  As it shows you can save money while still gambling responsibility.

Sammie1987

Thank you all, on the whole the balance looks low but generally I use spare money to pay towards any balances before my next payment or transfer most to help to buy isa to help towards deposit and solicitors fees etc but that said can understand everyone's reasoning and views.

iwb100

The problems in reality are this: you're current account, whether technically going overdrawn or not is not showing you to have a lot of spare cash - and in fact shows you are living 'on the edge'. I would bet if you have a savings account and show them this with sufficient funding most of these problems go away. But I know Santander will ask questions like 'how are you paying for fees, what debts do you have an are these covered in assets...' so it might be a case of just proving to them you have sufficient cash resource to finance your move and a suitable buffer. I would reapply elsewhere but before you do ensure your current account has a buffer in it and show your savings. Lenders usually want to see someone with appropriate finances which means usually that their deposit won't completely clear them out - and make sure you don't have any credit card or other debt (other than arranged finance deals) that you can't pay off - Santander for example once asked us to prove we could pay our 0% credit card off (and pay deposit etc). I don''t think a few small bets matter here or there, but if half your transactions are betting - I'd think about stopping them.