Gambling

Mchad2

Hello. 

I currently work away in the desert and i have no outgoings on my bank account apart from a few CC transactions to keep the credit score up. 

I gamble on football because i enjoy it and it passes the time, i dont depend on it, i genuinely enjoy it. 

I have applied for a UK mortgage and have an AIP in place. I have been advised to keep my statements clear of all gambling transactions. Now i understand if i want a property i have to stop but i was wondering if there was anyway around this to keep having my football bets but without showing on my statements? 

I currently spend between £100 - £250 per month on betting. 

Any help is massively appreciated  

Thanks

deannagone

Spend the money from another account (after opening it lol)?

emmajones1976

I had no issue getting a mortgage with loads of them on there, its not a hard and fast rule.

Mchad2

deannagone said:

Spend the money from another account (after opening it lol)?

But if i open another account it will show on my credit report and they will want to see statements?

Penguin_

Withdraw the cash from your account & go to a bookies in person?

RS2OOO

I have done this before, definitely not advisable as you pay much more interest in doing so, and it was years ago so things may have changed with regards to using Credit Cards for "gambling".

I was trading Forex through a Spreadbetting account (before all the leverage rules put an end to it). For 6 Months before applying for a mortgage I only used a credit card to transfer money into my trading account in order to keep my bank statements clean. 

It would show on the CC statement as a cash advance with quite high interest attached, and I would pay the card off monthly when I got paid.

As far as my bank statement showed I was spending £300 - £600 a month on credit card and paying it off each month and this was never questioned on mortgage application.

Also for that period of time I didn't withdraw any profits from the trading account so as not to have a trail back to my current account, which for me turned my trading account into a savings account for that period, as after I moved I withdrew a lump sum of profits to my current account which went a long way towards renovating the new home.

However, a disclaimer, I consider myself reasonably financially savvy, so if there is any risk whatsoever that your monthly flutter could be considered a habit or an addiction or any signs that you might be chasing losses, then what I did becomes the worst possible thing you could do and the best option then is to literally cut out the betting for a few months.

theartfullodger

Any way around this?  Yes, stop gambling & find something better to do 

I appreciate finding a bookies in the desert might be a challenge.

Mchad2

Penguin_ said:

Withdraw the cash from your account & go to a bookies in person?

No bookies in the desert my friend

emmajones1976

Penguin_ said:

Withdraw the cash from your account & go to a bookies in person?

This. Coral/Ladbrokes/Paddypower let you deposit cash in branch to use online.

Or do it via PayPal to the few that still allow it.

Mchad2

emmajones1976 said:

Penguin_ said:

Withdraw the cash from your account & go to a bookies in person?

This. Coral/Ladbrokes/Paddypower let you deposit cash in branch to use online.

Or do it via PayPal to the few that still allow it.

As i said i work in the desert, in the middle of nowhere and i am next home in April. 

I have tried paypal but it still shows up with the betting company name

emmajones1976

Mchad2 said:

emmajones1976 said:

Penguin_ said:

Withdraw the cash from your account & go to a bookies in person?

This. Coral/Ladbrokes/Paddypower let you deposit cash in branch to use online.

Or do it via PayPal to the few that still allow it.

As i said i work in the desert, in the middle of nowhere and i am next home in April. 

I have tried paypal but it still shows up with the betting company name

In which case you are doing it wrong. Send CASH to your Paypal account using their sort code and account number (or one of the other ways), and then do the transaction with the bookie direct with Paypal.