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Mortgage and Betting

Hotspur88

Well-Known Member
Aug 1, 2008
3,146
75,106
Morning all.

We had a mortgage meeting at the weekend as we are going to move house this year. I like a bet on the football at the weekend but now understand that any betting activity on your bank account might affect your ability to get a mortgage. So, the bank have told me that as long as from now on I don't place any bets, by the time we want to move (next few months) then there will be no issues. However, I have a predicament as I currently have money left in my betting account. If I was to bet with the money in my account, can the bank access this information? I'm talking about a £10-20 bet on the football once a week. I am genuinely in good profit for my football bets but I obviously don't want to use that money if the mortgage lenders can see that I am betting now and again. I wouldn't be transferring money into the account from my bank, I would be using the money already in there. Any clarification would be great thank you.
 

neilp

Well-Known Member
Jul 9, 2007
3,350
14,710
Morning all.

We had a mortgage meeting at the weekend as we are going to move house this year. I like a bet on the football at the weekend but now understand that any betting activity on your bank account might affect your ability to get a mortgage. So, the bank have told me that as long as from now on I don't place any bets, by the time we want to move (next few months) then there will be no issues. However, I have a predicament as I currently have money left in my betting account. If I was to bet with the money in my account, can the bank access this information? I'm talking about a £10-20 bet on the football once a week. I am genuinely in good profit for my football bets but I obviously don't want to use that money if the mortgage lenders can see that I am betting now and again. I wouldn't be transferring money into the account from my bank, I would be using the money already in there. Any clarification would be great thank you.
The mortgage lender will not have any connection to your bookie, just don’t transfer anything in or out of your bank account.
 

WalkerboyUK

Well-Known Member
Jun 8, 2009
21,658
23,476
Just wait until the mortgage/move is done. After that you can do what you want.
Banks etc. can be a bit shitty over this sort of thing, but they aren't actually going to monitor your monthly activity.
We just took out a loan to consolidate some debts and do a few bits and pieces.
As soon as I mentioned debt consolidation the mortgage lender got a bit arsey about it. I told them that it would be house improvements instead and that was acceptable to them.
 

whitelightwhiteheat

SC Supporter
Jul 21, 2006
6,517
3,195
I used to work for a loan company as an Underwriter and basically how it works is each lending provider will have a set of guidelines on gambling. The company I worked for, for example, if we could see someone spent more than 25% of their income on gambling when we reviewed their bank statements we would decline the application due to being "responsible lenders" as it's termed. I suspect Mortgage companies would do the same.

I applied for a mortgage in 2016 and at that point I would put on bets most weekends, so would transfer £10 per week into my betting account, and I got my mortgage with no issues.

However, I would always recommend just giving it a rest for a couple of months and having no gambling at all, just to make sure for a Mortgage mind you.

As for the betting site account - They would not have access to this information. They would only have access to the bank statements that you provide them. If you're applying for a mortgage with the Bank/Building Society that you have your bank account with, keep in mind they already have access to your bank account history, obviously.
 

Hotspur88

Well-Known Member
Aug 1, 2008
3,146
75,106
I used to work for a loan company as an Underwriter and basically how it works is each lending provider will have a set of guidelines on gambling. The company I worked for, for example, if we could see someone spent more than 25% of their income on gambling when we reviewed their bank statements we would decline the application due to being "responsible lenders" as it's termed. I suspect Mortgage companies would do the same.

I applied for a mortgage in 2016 and at that point I would put on bets most weekends, so would transfer £10 per week into my betting account, and I got my mortgage with no issues.

However, I would always recommend just giving it a rest for a couple of months and having no gambling at all, just to make sure for a Mortgage mind you.

As for the betting site account - They would not have access to this information. They would only have access to the bank statements that you provide them. If you're applying for a mortgage with the Bank/Building Society that you have your bank account with, keep in mind they already have access to your bank account history, obviously.
Really appreciate the info. So as long as I only use what is already in my Sky Bet account, they won't be able to see what I'm betting in my account? Obviously not going to transfer any money from my bank account, just using what's in my betting account already.

The reason I ask is because I won my bet on Saturday and have around £200 in there so technically I could bet 10 Saturdays on the football at £20 each. So as long as they can't see this then that's ok? I genuinely win around half the bets I put on the football so I have a really good profit margin on my account of around £1500 over the past year.
 

Sandro30

Well-Known Member
Jul 7, 2011
2,855
12,322
Fwiw companies like Betfred accept paypal now. If you can't stop/don't want to stop then I would suggest using that.
 

Gingernut

Well-Known Member
Jul 2, 2019
1,422
3,514
Morning all.

We had a mortgage meeting at the weekend as we are going to move house this year. I like a bet on the football at the weekend but now understand that any betting activity on your bank account might affect your ability to get a mortgage. So, the bank have told me that as long as from now on I don't place any bets, by the time we want to move (next few months) then there will be no issues. However, I have a predicament as I currently have money left in my betting account. If I was to bet with the money in my account, can the bank access this information? I'm talking about a £10-20 bet on the football once a week. I am genuinely in good profit for my football bets but I obviously don't want to use that money if the mortgage lenders can see that I am betting now and again. I wouldn't be transferring money into the account from my bank, I would be using the money already in there. Any clarification would be great thank you.
Cash withdrawal and walk into bookies and place them there
 

Hotspur88

Well-Known Member
Aug 1, 2008
3,146
75,106
Fwiw companies like Betfred accept paypal now. If you can't stop/don't want to stop then I would suggest using that.
Thank you. I can easily stop, I just like a bet on the football at a weekend. I'm just making sure with the money I have left in my account, if I bet it, will that affect my mortgage application? It seems as though as long as I no longer use my bank to transfer money, any money currently in my Sky Bet account can't be traced?
 

Sandro30

Well-Known Member
Jul 7, 2011
2,855
12,322
Thank you. I can easily stop, I just like a bet on the football at a weekend. I'm just making sure with the money I have left in my account, if I bet it, will that affect my mortgage application? It seems as though as long as I no longer use my bank to transfer money, any money currently in my Sky Bet account can't be traced?
They can’t track what’s already in your account. So you have no issues with using what’s already there.
 

Gingernut

Well-Known Member
Jul 2, 2019
1,422
3,514
So are you saying I shouldn't use the money currently in my account to bet?
sorry I should clarify, yes - you can of course use that, they won't be able to see it unless you withdraw it to your bank account. But if you lose it and want to top up more - use cash at the bookies until the mortgage is all sorted.
 

NickHSpurs

Well-Known Member
Mar 14, 2004
13,626
11,875
I'd be amazed if betting £10 a week had any impact, I do the same and I've got two mortgages, absolutely no issue with getting either one.

If you're worried you can get money out and go to the bookies, Ladbrokes even have allow you to "Cash Out" on slips from the shops via The Grid app. Alternatively as others have said you can withdraw and deposit via PayPal on Laddies and I'm sure others do the same as all that will show on your statement is a PayPal transaction with no link to the bookie.
 

tototoner

Staying Alert
Mar 21, 2004
29,387
34,059
Surely if they see you are getting more back into your account from the bookie than what you are depositing to them they cannot call you up for irresponsible gambling as you are making a profit.

By the same argument how do professional gamblers ever get finance / mortgages

Interesting conversation
 

Hotspur88

Well-Known Member
Aug 1, 2008
3,146
75,106
Surely if they see you are getting more back into your account from the bookie than what you are depositing to them they cannot call you up for irresponsible gambling as you are making a profit.

By the same argument how do professional gamblers ever get finance / mortgages

Interesting conversation
Apparently the bit going back in makes no difference and they aren't bothered. They just want to see what you're willing to risk. Professional gamblers can get a mortgage as I read about it yesterday. There were a few stipulations but can't remember them all. Certain bets are more acceptable (professional poker player or horse racing with inside knowledge).
 

tototoner

Staying Alert
Mar 21, 2004
29,387
34,059
Apparently the bit going back in makes no difference and they aren't bothered. They just want to see what you're willing to risk. Professional gamblers can get a mortgage as I read about it yesterday. There were a few stipulations but can't remember them all. Certain bets are more acceptable (professional poker player or horse racing with inside knowledge).

Very interesting, as are your footy bets. Well done
 

tototoner

Staying Alert
Mar 21, 2004
29,387
34,059
Happy to post them on here if I'm allowed. Is there a football bet thread?

This one I think although it hasn't been active in a few months

 

Blockbuster

Well-Known Member
Jun 28, 2007
2,765
1,568
If you have a separate bank account to your current account, then it shouldnt come up when you need to show bank statements

obviously a bit late now, but something to think of for the future.
 

Gareth88

Well-Known Member
Sep 19, 2017
4,592
6,727
If I don't gamble for a few months and then go for a mortgage will it be okay?
 
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