Mortgage Application concerns

dony9978

Hi everyone,

This is my first time using this forum so bear with me if my thread is in the wrong place.

So, my partner and I are buying our first house together, the place we have in mind is £185,000, we are using £18,500 as a deposit from the sale of the current property that my partner owns to cover this.

My salary is £34,000 per year and my partners salary is £32,000 per year, £66,000 all in.

My partner has no debt at all, whereas I have £2,800 on a 0% credit card, where the monthly minimum repayment is £28 and a monthly personal loan repayment of £135 which will continue for a few years yet. This is with my bank.

My partner doesn’t wish to use a broker and instead use the same lender, NatWest, as she has been for the current property.

My main concern is I have some gambling transactions on my statements, over the last three months these amount to: Feb £180, March £295, April £0.

You read a lot these days about any gambling transactions being risks and it’s been playing on my mind recently as we are due to begin our full application in a few weeks once the current property is under offer, the current place has only just gone on the market. 

I’m just curious about how impactful the gambling will be, my credit score is in the excellent band category and I’ve never missed any payments or used an overdraft before, I noticed some people mention the 10% rule on other forums, that being as long as you don’t gamble more than 10% of net income over a 3 month period it should be okay but I’m still concerned.

Any advice is appreciated as it is a stressful time.

Thanks! 

ACG

I think you will be ok. 
If you have bet £1, £1, £1, £1, £1 a few nights a week over the month, that would more likely be a concern than if you did £50 every saturday. So there is an element of the devil is in the detail. But the monetary amounts are not a problem on your income.