Gambling transaction when applying for new mortgage

keadd1985

Hi guys,

I need some advice. I have quite a few recent gambling transaction on a "second" bank account statement. I usually move funds from my main account to this second account to use for online gambling.

When applying for a new mortgage (we are moving) I am aware they don't like to see too many of these gambling transactions. They probably wont need to see the second account statements but they will see some regular transfers to and from the two bank accounts and I a little worried about how to explain these if asked.

Could I say they were from a "crypto" platform maybe which I no longer have access to? The transfers simply state my name with no reference to gambling.

Any advice would be great. Other than that I have a perfect credit rating, regular income etc so this is my only worry.

I need a way to explain the transfers if asked basically.

Thanks guys

GoonerByron

I wouldn't worry about it. For 1, on my last 2 remortgages I haven't even had to provide bank statements - Only proof of income via payslips and credit card/loan amounts? Also I've remortgaged 3 or 4 times previous to this when I've had many £10/£20 gambling transactions per month on my bank statements. As long as you are using disposable income and not going into overdraft etc I don't see how it can be a problem. I think it is mostly a rumour that gets thrown around or maybe when you are a first buyer close to your lending limit. 

ACG

I would recommend against lying on your mortgage application. 

Some lenders ask for bank statements from all accounts, some ask for the statements to more or less verify your income (ie main account only) and some do not ask for bank statements. Maybe speak to a broker, they can ensure it is not going to be a problem legally. 

MWT

keadd1985 said:

Could I say they were from a "crypto" platform maybe which I no longer have access to? The transfers simply state my name with no reference to gambling.

Any advice would be great. Other than that I have a perfect credit rating, regular income etc so this is my only worry.

I need a way to explain the transfers if asked basically.

Just tell the truth, especially to your broker.

Gambling within your disposable income shouldn't be a huge problem, lying about it could end your ability to get a mortgage at all...

simon_or

I don't think this will be an issue. I've had many mortgage applications when I used to do matched betting, my broker never had any problems getting me a good mortgage. If you're not confident, just use a broker. As long your honest with them, it becomes their problem to solve not yours.

Definitely don't make false statements to your bank.