Mortgage & gambling

lgrace1

Just need some advice re getting a mortgage and some gambling transactions through a competition website. 

My husband and I are porting over our existing mortgage with Natwest and applying for a new mortgage on top of this as we are moving. Our mortgage lender has asked for 3 months bank statements however the past month or so I’ve made a total of 300 transactions to a competition website. I won £1200 and spent £1300 (so only £100 of my ‘own cash). 

I’m just stressed if I’ll get refused now due to this but my mortgage broker said not to worry and if they do raise it then we’ll just explain it was a one off. Has anyone else been in this situation and all been ok? I’ve never gone in my overdraft, I basically just used the money I won as disposable cash and left it at that.

Any advice appreciated as I’m really stressing now!

ACG

How do you explain 300 transactions is a one off? I would love to be a part of that conversation! 
Ordinarily I would say gambling transactions with Natwest are probably not too bad. 300 in a month however... I am not sure. I do think you will be ok, especially if it is your own money (ie not going into overdrafts etc) but at the same time unless I had checked with the lender myself (which your broker may have), I am not sure I would want to commit to that answer. 

Probably not the answer you were looking for, but I think you are probably with one of the better lenders for your situation. 

lgrace1

Thanks for your reply. I know, I didn’t actually realise it was that many until I’ve counted them now. I would spend £2.50/£3 each transaction but obviously it added up.. 
really hoping it will be okay but poor timing as I’ve never used a competition website prior to this and won’t be again! Just looks bad on my statement. 

Brie

If asked about it you could be honest and say it seemed fun and exciting but you've realised it's not profitable and ultimately a waste of time as well as money.  My guess would be that most people are surprised at how badly they have been dealing with their money when they hit something crucial like a remortgage.  

lgrace1

Thanks for your reply. I’ve just looked into the website and it is technically a charity competition website so I might just use that and say any funds I received I was just putting back into the charity pot (with the possibility of a win). It actually says on the website it’s not considered gambling so hopefully I can go with that and be done with it.