I lost £350 in a week through gambling whilst saving for a house. Can I still get a mortgage?

lickleredcar

Hi all,

I'm saving for a house with my girlfriend and stupidly I had a £50 bet and began to chase my losses before losing £350.

We've just found out that our application for a new build was successful and received the reservation letter. However due to my stupidity this is all on the line now.

I've had problems through gambling in the past but not since we started saving.

Our new build is likely to be built by Christmas.

Will we be able to get a mortgage?

I'd speak to a mortgage adviser but the last one we spoke just tried to usher everything through quickly which made me question whether they cared or whether they were just in it for a quick buck.

So, will we get the mortgage?

Thanks for taking time in reading this.

Best regards,

Redlicklecar

MWT

I don't think anyone can give you a definitive answer on that as it depends on all the other aspects of your credit history and earnings etc.

It sounds like you don't even have a mortgage application in progress yet so do find yourself a good broker and do tell them all about this aspect of your recent history, don't just wait for them to ask the right questions...

As long as the betting didn't take you into your overdraft for example and was effectively out of disposable income I'd hope it wouldn't be fatal, but your broker is the best one to answer your question as they will have all your details and history to hand...

Coffeekup

I doubt it, but you never know. More importantly your squandering away a bigger deposit, fees or something new for you home.

Problems with gambling never seem to go away, first things first I would get rid of the app/s from your device's. As you don't let the devil on your home.
Also maybe speak with your partner about this, as you could become a liability to them in the future

K_S

@lickleredcar No one on this board can tell you whether you can get a mortgage or not. I ackowledge that you have previously had a poor experience with a broker, but I would gently recommend that that would be the best route to take to assess your chances realistically. Do keep in mind that a broker or lender may indeed be unable to serve you if (in their opinion) they identify you as potentially having a gambling problem.